New Tool Reveals Apartment Sale Prices in Your Building and Neighborhood
Translated & summarized from Bizportal by baba
Lawyer Guy Zomer has launched a new online calculator that allows Israelis to see apartment sale prices in their building and neighborhood, using a database of 3.8 million real estate transactions. The tool provides detailed information previously hard to access, aiding buyers, sellers, and financial professionals. It joins other tools Zomer developed for comparing apartment values and finding affordable housing options.
The story in 5 lines · by baba
- A new calculator allows Israelis to check apartment sale prices in their building and neighborhood.
- Lawyer Guy Zomer created the tool using a database of 3.8 million real estate transactions.
- The calculator provides detailed building and transaction history previously difficult to access.
- It aids buyers, sellers, appraisers, and banks in assessing property values.
- The tool joins other resources for comparing apartment sales and finding affordable housing.
A new online calculator allows Israelis to check the sale prices of apartments in their specific building and neighborhood, providing real estate transaction data previously difficult to access. Lawyer Guy Zomer developed the tool by compiling a database of 3.8 million real estate transactions, which he made publicly available. This data, which the Tax Authority is mandated to provide but restricts, offers significantly more detail than official government databases.
The calculator enables users to input their address and receive information on their building's construction year, number of floors, and a table of all transactions, including the history of apartments sold multiple times. This tool is particularly useful for potential buyers and sellers, as well as for appraisers and banks, who previously had to conduct manual searches for comparable sales.
This new calculator joins other tools Zomer has developed, including one that compares a specific apartment to similar recent sales and another that identifies cities where a four-room apartment can be purchased for around 2 million shekels. The article also briefly touches upon rising construction costs and the increasing risks associated with urban renewal projects, despite claims that apartment prices have fallen significantly.
