TEL AVIV 3700
KEY FIGURES:
Area:190 hectares
Number of units:11,927
Project status:zoning change approved by national council
Pending:detailed plan design by local committee
Our advice:one unit (104m2) = 120 m2 built
FIVE TIPS FOR THE FUTURELAND BUYER
It is clearly preferable to buy private landto be able to resell it much more easily at any time.
It is better to invest in large projects. The bigger the project, the more it has been publicized, and the more it illustrates, in the Israeli mentality, that the government is dealing with the housing crisis. There is almost an "obligation" to complete this kind of project.
Highly recommended: Invest in a project 'managed' by the municipality in order to rely on this huge structure for very difficult procedures that require knowledge of all laws as well as for the pressure that the municipality will know how to apply when needed.
For a more secure investment: Invest after the first submission of plans has already been accepted.
It is smarter to invest in projects backed by major economic players who will know how to activate and put pressure for the project's advancement. Examples of major economic players who have invested in the 'Hof Te'helet and TA 3700 projects: Canada Israel, Electra, Teddy Saguy, etc....
TO NOTE!
GOOD TO KNOW
Purchasing land where the building permit process is advanced can prove to be a good real estate opportunity. Even if the land price is higher than at the very beginning of the process, the overall price (land + construction) will still be approximately 60% lower compared to acquiring a finished property.
