Tel Aviv Luxury Towers Face Slow Sales Amid Rising Prices
Translated & summarized from Globes by baba
Three large luxury residential towers in Tel Aviv's District 4 are nearing completion, significantly changing the city's skyline. Despite a dramatic slowdown in sales since 2022, prices per square meter in these projects continue to rise. Developers are offering incentives like deferred payments and guaranteed rental income to attract buyers to the high-priced units.
The story in 6 lines · by baba
- Three major luxury residential towers are nearing completion in Tel Aviv's District 4.
- Sales in the DUO TLV and Infinity towers have significantly slowed since 2022.
- Despite slow sales, the price per square meter in these projects has steadily increased.
- The Hageg Group is offering incentives including deferred payments and guaranteed rental income.
- The State Square towers are fully allocated to original land owners, with no developer inventory.
- Recent sales in the State Square towers indicate prices between NIS 68,500 and NIS 75,900 per square meter.
Three major residential projects in Tel Aviv's District 4, a hub for urban renewal, are nearing completion, significantly altering the city's skyline. These include Africa Israel's DUO towers and Hageg Group's Infinity tower in the "Sumail" complex, along with the State Square towers. While District 4 has seen numerous Tama 38 urban renewal projects, these three stand out for their scale and impact.
The DUO TLV project by Africa Israel, featuring two 54-story towers with 668 units, is 87% complete as of mid-2026. Despite this, sales have dramatically slowed since 2022, with only 12 units sold in the first half of 2026, compared to 127 in 2022. However, the price per square meter has steadily increased, reaching an average of NIS 71,000 in early 2026, up from NIS 64,500 in 2023.
The Infinity tower by Hageg Group, a 53-story residential building, is also nearing completion, with over 86% finished by mid-2026. Sales have been sluggish, with only one unit sold in the first half of 2026. To stimulate sales, Hageg is offering buyers NIS 1 million upon contract signing, with the balance due three years after occupancy without interest. They also guarantee rental income for buyers who wish to lease their units.
The State Square towers, a complex of three residential buildings with 453 units, are almost finished, with occupancy permits expected in early 2027. This project, initiated by a land-owner consortium, has no developer inventory as all units are already allocated to owners. Recent transactions in late 2024 and mid-2024 show prices ranging from NIS 68,500 to NIS 75,900 per square meter, with penthouses reaching up to NIS 25 million.
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