An Israeli slabs in the middle of the city, with a cost of over USD 2,000 per square metre, and a price tag of USD 2.8 million.
The city has one of the highest prices in Israel for the construction of new houses, with the average price in the city currently set at around USD 1.8m.
Israel has one the highest price tags in the world for the building of new homes, with prices set to increase even further in the coming years.
Slabs have been a major theme in Israel’s housing market in recent years, as builders struggle to compete with cheaper overseas rivals, such as China and Brazil.
The cost of the most popular slabs is set to go up to around USD 2 million in 2020, with most of them being built in the ultra-high-rise sector.
“Israel’s housing is not cheap,” said Amir Eshel, head of the Israel-based Housing Information Service.
“We are getting rid of some of these slabs and replacing them with cheaper ones.”
“I think the housing market is becoming more stable, but we will need more slabs to continue to increase the amount of new housing.”
The average cost of a single-family home in Israel was around USD 6.5m in 2019.
This number has risen by more than 50% in the past year, according to Israel Housing.