Gindi Holdings Offers Unprecedented Payment Plan for Remaining Apartments
Translated & summarized from Ice by baba
Gindi Holdings is offering a new payment plan for its remaining 300 apartments in central Israel, allowing buyers to defer 30% of the price for ten years after occupancy. This initiative aims to boost sales by offering significant savings on mortgage costs and financial flexibility. The offer applies to projects in Herzliya, Ramat Gan, and near Ramat Pinkas, with substantial price differences compared to current market rates.
The story in 5 lines · by baba
- Gindi Holdings offers a 10-year deferred payment plan for 30% of apartment prices.
- The plan applies to approximately 300 remaining apartments in four central Israel projects.
- Buyers can save an estimated 700,000 shekels by avoiding interest and mortgage costs.
- The offer includes projects in Herzliya, Ramat Gan, and near Ramat Pinkas.
- Apartment prices under the plan are significantly lower than current market rates.
Gindi Holdings, a prominent real estate developer, has introduced a novel sales initiative to move its remaining apartment inventory, comprising approximately 300 units across four projects in central Israel. The new payment structure allows buyers to pay only 20% of the apartment's price upon signing, with another 50% due at the time of delivery, both without interest or linkage to inflation. Crucially, the remaining 30% of the price will be deferred for ten years after the buyer takes possession of the apartment.
This groundbreaking offer is available for apartments in projects located in Galil Yam, Herzliya; Ramat Afal and Kfar Azar in Ramat Gan; and Neve Aylon near Ramat Pinkas. The company is presenting this as a significant financial advantage, estimating potential savings of up to 700,000 shekels per buyer. This saving stems from not needing to finance the deferred amount with a mortgage and avoiding interest and inflation adjustments on it for a decade.
The plan aims to provide buyers with considerable financial flexibility, enabling them to occupy and use their apartments for ten years before the final payment is due. During this period, the value of the property may increase, while the deferred payment amount remains fixed. This allows buyers to benefit from the property's use while managing their finances more effectively.
Specific examples of the offer include 5-room apartments in Galil Yam, Herzliya, starting at 4.2 million shekels, compared to market prices of 5.3-5.7 million shekels. In Kfar Azar, Ramat Gan, 3.5-room apartments are offered from 2.7 million shekels, versus local prices of 3.5-3.6 million shekels. In Neve Aylon, 4-room apartments start at 2.1 million shekels, while similar units in the area sell for 2.9-3.1 million shekels. The company notes that over 470 units have already been sold in the Ramat Afal project.
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