And You Thought Our Prices Were High?
Real-estate prices a myth - Israel Opinion, Ynetnews
When Yitzhak Tshuva's Elad Group sold the most upscale penthouse at the renovated Plaza Hotel for $50 million, this was not surprising: The Plaza will be the most desired and snobbish address in the world's richest city. Yet paying $10 million for a penthouse near the Carmel Market? In the land of wars and terrorism?Be glad you don't live in Tel Aviv. In our City, a "terrorist" is somebody who voted for George Bush. We have a lot to be thankful for.The Pacific Heights neighborhood is one of the most sought-after locations in a particularly expensive real-estate town – San Francisco, California. At this time, there is a huge two-floor penthouse for sale there, with amazing 360-degree views of the ocean and Golden Gate Bridge, including stunning furnishing, a library, a giant balcony, and an entertainment room. The asking price: Only about $5 million.
Yet you mean to tell me the same amount is required to get a more modest penthouse near the train station and Halacha intersection in Tel Aviv? In Israel, a country facing war? Does anyone believe such real-estate prices?