The Rise of Tel Aviv's Super Luxury Properties
SUPER luxury properties are bigger, better located and built to higher standards and specifications. Not every asset can qualify as ‘super luxury’ as prices start from £5m (£18,000 per sqm) upwards. Super luxury properties are designed by international award-winning architects with flexible budgets that allow usage of the finest materials and the creation of bespoke amenities. The clients tend to be ultra-high-net- worth individuals who own similar prestigious properties in other metropolitan cites.
In recent years, Tel Aviv has become synonymous for its high quality of life, low pollution levels, sunny year-round weather, nightlife, cultural activities and gourmet restaurants. The Israeli start-up market attracts thousands of international investors to Tel Aviv in search of the next VIBER, WAZE or WIX.
According to the World Economic Forum, Israel’s technology sector attracted £3.3bn of foreign investment in 2016 - much more than London, Shanghai, Moscow, Berlin, Paris, Sydney, São Paolo or Singapore. Tel Aviv’s municipality also invests resources to develop new quality infrastructure, such as bicycle lanes, green open spaces, accessible routes to the city’s sixteen beaches and for the preservation of historic buildings.
A fine example to reflect the super luxury real estate market is ORANIM, the developers of Royal Beach luxury hotels and residencies in Tel Aviv renowned for breaking several records. Their chart-topping sales prices include over £23m for penthouses and their latest project, Celestia Seafront Penthouse, conjures up a sense of grandeur with its soaring 6-metre high ceiling and the spectacular vast blue views from Old Jaffa to Herzlia. Designed by renowned Israeli interior designer Shlomo Frenkel, the challenge was to creatt magnificent, timeless seafront palace. White marble floors with book-match tiling to create kaleidoscope images on the floor, the 6-metre high kitchen surfaces are glass, shot through with silver silk fabric and mirror slabs that reflect Italian chandeliers hanging from the ceiling. The master bedroom, with its 4-metre high headboard upholstered with silk, overlooks old Jaffa. Even the light fixtures are bespoke.
Shira Oren-Nahmias, the Deputy CEO of Oranim said:
“We sell art, not real estate. Each penthouse is a one-of-a- kind work of art.” In line with Oranim’s philosophy that there is a convergence between art and real estate, the art in the penthouse pays tribute to contemporary Israeli artists. She added: “Our motto is ‘Oranim - Art Estate’ and similar to fine works of art, our development value surges with time.” Indeed, properties with a price tag of £30m are no longer a rarity in Tel Aviv with several of them currently on the market.
We at PREMIUM TLV offer some of the finest real estate in the city. Launched in 1990, we have a solid track record for providing clients with personalised reports analysing historical sales data by geographical locations and in-depth socio-political/legislative trends. We also offer access to some of the most knowledgeable luxury real estate experts, including architects, solicitors, accountants, tax specialists and banks, should you require financing.
To contact Sholomi Ben Ishai or Noa Ella for a non- obligatory consultation,
please visit PremiumTLV.com or email:
To contact Shira Oren-Nahmias of Oranim Art Estates, please visit Oranim-projects.co.il