In paid partnership with Ben-Shalom Development and Construction
Despite the nearly 7-month long war, real estate prices have remained strong in Israel, and particularly in Tel Aviv. With almost year-round sunny blue skies, amazing beachfront, and boasting a ranking of World’s Happiest City, it’s no surprise that people are continuing to invest in the city’s real estate market.
For 3 generations, the Ben-Shalom family has been building apartments in the White City, with 30 new projects in the works.
Home buyers like Sarah Geist says purchasing was a “no-brainer,” especially in light of the growing antisemitism in her native United States, she describes buying an apartment like an act of Jewish pride.
“I watch friends and family abroad deal with antisemitism that is so strong. We have only one safe place that’s ours. So to me, now that I’m here it’s a no-brainer,” Geist told i24NEWS.
Geist, who immigrated to Israel with her young family years ago, recently bought the penthouse in a brand new apartment building being built on Horkanos street in north Tel Aviv. The quiet and leafy green area, within walking distance of the beach and HaYarkon park, makes it an attractive environment for a family, while still offering the amenities of the city’s most elite establishments.
Geist, who says she was initially reluctant to invest in real estate, says that the Israeli market has proven stable, without the bubbles and bursts seen in the U.S. Real estate lawyer Andy Schwartz confirms that view. “Tel Aviv doesn’t have a lot of supply that can afford to allow a drop in prices,” he told us.
Schwartz says that despite the war, the market is back to where it was before October 7. While in many other countries similar conditions would have caused a huge market drop, Israel has proven itself to be a secure and resilient market.
Schwartz says an added benefit of Tel Aviv is that buyers are purchasing private land and getting full rights, meaning they are not leasing the land or required to get approval from the land authority.
Itamar Ben-Shalom, co-CEO of Ben-Shalom Development & Construction says real estate comes down to 3 things: location, location, location. For over fifty years, their projects have sprung up across the best locations in Tel Aviv, focusing on entirely new buildings as well as renewal and renovation of some of the city’s most famous historic buildings.
These days, they are working on more than thirty projects, including on Tel Aviv’s central avenues of Dizengoff, Ben Yehuda and Rothschild, as well as in more suburban neighborhoods like Kiryat Shalom, Yad Eliyahu and Hadar Yosef. “Each project has its own character, and for each project we give our utmost attention,” Ben-Shalom says.
Ami Balshan, who works with the Ben-Shalom company, explains the care that goes into working with a buyer. “When a client comes to us and decides to buy an apartment in Ben-Shalom, we understand that he’s putting the most precious thing to him, his home, in our hands. We make sure he receives guidance, that we go step by step with him in all his choices. We make sure he’s satisfied throughout the whole process, and even when he receives the key and encounters problems, if there any in the first few years, we make sure to be there, to fix, and to arrange what’s needed.”
Geist agrees, saying she felt like she was buying into a family. “They seemed very concerned with what I wanted my home to be like and feel like, it was important to them. I had the opportunity to sit with the woman works on interiors. We’re now most of way through this project and everything they said they were going to do they’ve actually done without fail.”
The Tel Aviv skyline is certainly rising into the future, with no signs of slowing down.
To learn more, visit the Ben-Shalom website.
