The Jerusalem luxury market, which had slowed significantly in comparison to the overall robust market in the city is showing signs of a big return. According to News 1, the luxury sales are rebounding. Investors in the city are looking at the luxury market as a potential for the best overall return on investment in the near future.
New luxury projects are being sold on paper, Africa-Israel is now selling its newest planned development for 148 luxury units on Neviim St. (Prophets St.). The company is now seeing a significant gain in its earnings in its ISraeli developments ending its 3rd quarter with a profit of 12 million as opposed to a profit of 4 million in the same quarter last year.
The company’s luxury buidling on Harav Kook St. had shown slow earnings in its early offering but is now more than half sold out.