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Will a new 64-floor apartment building solve Tel Aviv’s housing crisis?

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Tel Aviv’s Regional Planning Council is pushing Givatayim to approve the construction of a 64-story building. long-term rental apartments, No option to purchase.

The plan includes 500 smaller studios and one or two bedroom apartments. The smaller apartment size is a deliberate move to provide more supply to the demand of young couples who can’t afford more living space.

According to the plans, the building was to be built in Gibatime near the border. Tel Avivlocated near Savidor Center Station.

This is the first time such a building has been constructed. Because the dominant construction method in recent years relied on relatively large apartments designed for sale rather than for rent. However, his proposed 500 apartment was intentionally designed for the needs of young couples and relatively elderly people, and may not require as much space as a family with children.

The plan focuses on the interaction between the residential tower and the urban space in which it resides, including the extension of the sidewalks around the tower. This plan will allow us to build a more comfortable and efficient walking environment around the station.

A simulated photo of the new 64-story building in Givatayim. (Credit: D-BLK Architects)

“The creation of Tel Aviv Metropolitan, alongside transport infrastructure in the center of Gushdan, will allow us to expand the supply of long-term rental apartments instead of buying them,” said Eran, chairman of the Tel Aviv Regional Planning Council. Damn.

“The real estate market must evolve with long-term rental apartments competing for quality of life, level of service and efficiency,” said Erez Ben-Eliezer, regional urban planner at the council. .

Projects of this type involving hundreds of apartments are part of a reorientation of the real estate market and their locations offer residents many services within walking distance.

“The real estate market must evolve with long-term rental apartments competing for quality of life, level of service and efficiency.”

Eres Ben-Eliezer

Housing costs plague Israeli youth

The Israeli real estate market has been a painful subject for many young people as house prices, especially rents, have risen over the past 15 years, sparking numerous protests, including the widespread social justice protests of 2011. Rent increases in Tel Aviv.

Housing in Tel Aviv, in particular, is very expensive, and economists at USB Bank say Tel Aviv’s real estate market is 18% jumped From late 2021 to early 2022.

Some experts argue that one of the main problems in the Israeli property market is the shortage of one- and two-bedroom apartments. Most of the recently built apartments in Israel were designed to accommodate families with children, with his three or four bedrooms making affordable housing for those living alone or without a large family. Out of space.

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