Tel Aviv Developer Awards Apartment in Lottery Amid High Taxes and Low Sales

The real estate company Anshei HaIr concluded a unique marketing campaign this morning, offering a lottery prize of a two-room apartment near Kikar HaMedina in Tel Aviv, valued at approximately 2.5 million shekels. The promotion promised that one out of every 50 initial buyers of apartments in the company’s projects in Tel Aviv’s districts 3 and 4 would win the apartment. The lottery winner is Aliza Deri, 64, who purchased a three-room apartment and expressed excitement about her win, saying it would help her fulfill the commandment of honoring her parents.

The campaign began on February 15, 2026, and was originally set to end in mid-June. However, due to low sales, only 13 apartments sold totaling about 112 million shekels at an average price of 75,000 shekels per square meter, the company extended the campaign and postponed the lottery until today. The average apartment price in these central Tel Aviv projects is around 8.6 million shekels, which limited buyer interest.

According to the campaign’s terms, all taxes and expenses related to receiving the apartment are the winner’s responsibility. These include the lottery winnings tax, purchase tax, surtax, VAT, legal fees, registration fees, handling charges, infrastructure connections, and payments to the condominium or management company. The apartment will be delivered "as is" with no option for modifications. Rough calculations estimate that taxes alone could total about 66% of the apartment’s value, approximately 1.65 million shekels, excluding additional fees.

The lottery was held at the law offices of Arnon, Tadmor-Levy, marking the end of the marketing campaign. Despite the low sales, the promotion attracted attention due to the high-value prize and the significant tax burden on the winner.