Q1 and Q2 Sales Reach $100 Million
Our sales office has been fairly humming with activity as demand for private living soars. The past half year has been especially busy, with the total sales currently at $100 million (!) for the first two quarters of 2021.
We’ve been attributing that to the timeless desire of every Jew to dwell in the holiest land in the world, combined with the undeniable appeal of a most transcendental living experience, borne of the collaboration of Israel’s best management and construction firms. In addition, the world has seen Israel’s remarkable performance and rapid recovery throughout the COVID pandemic, in both economic stability and efficient healthcare systems. These have deeply underscored Israel’s leading global role at the forefront of developed nations.
Housing Prices Spike
We have also seen a steady rise in real estate prices, both in Israel as a whole and particularly in desirable areas such as Tel Aviv and Yerushalayim. Consistent with the population growth rate, the land resources for housing are in increasingly short supply, which in turn affects demand and price hikes. The few land auctions held by the Israeli Land Authority have been closing at unprecedented prices, which are reflected in the final cost per residence, with no price moderation expected anytime soon. In fact, Zev Elkin, the new Minister of Housing, has publicly stated that he could not lower housing prices and according to his expectations, they would continue to rise.
Here at Jerusalem Estates, the demand is greatly pronounced. In fact, the demand, coupled with the success and rapid progression in Phases I and II, has compelled us to proceed with the marketing and execution of the buildings in Phase III – HaLulav and HaOgen.
Word Spreads Quickly
Our residents have done their share of contributing to the clamor by telling their friends about the remarkable living experience afforded at Jerusalem Estates, from the character of construction in their residences, to the immaculate lobbies, to the expansive quality of the Amphora Garden, whose blooms, ecological water pools and fragrant flora have been thriving along the experiential promenade.
May Hashem watch over us all, and may we soon merit the final rebuilding of Yerushalayim. May it be speedily in our days.
With best wishes for a meaningful month,
The Team at Jerusalem Estates