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Tuesday, May 29, 2012

New home sales up 17% in April

New home sales rose 17% in April 2012, compared with March, snapping a three-month slump, the Central Bureau of Statistics reported today. New home sales rose to 1,868 homes in April from 1,438 in March, despite the Passover holiday. New home sales were unchanged compared with April 2011.

The largest increase in new home sales in April was in the Tel Aviv District, where they doubled from March to 291 homes. New home sales rose 77% in the Jerusalem District, 17% in the Northern District, and 11% in the Southern District. New home sales were unchanged at 660 homes in the Central District, and fell by 20% in the Haifa District. 74% of new home sales in January-April were in the Central District. New home sales in the Tel Aviv District were down 29% in January-April compared with the corresponding months, and fell 16% in the Haifa District, but rose 42% in the Jerusalem District.

Demand for new homes rose 15% in April, compared with March, to 3,014 homes, but was down 6% compared with April last year. The housing inventory rose 35% in April to 20,653 homes. 45% of the inventory is in the Central District, and 4% is in the Northern District. The housing inventory is sufficient for 13 months at the average rate of sales over the preceding three months.

Source Globes

Tuesday, May 22, 2012

Startup Nation now on the map

Michael Eisenberg (Benchmark Capital) set a challenge a few days ago, asking developers from Israel to create a similar map to the one Michael Bloomberg unveiled in NY and that showcases more than 500 local companies based on their location as well as the available jobs within these companies.

Inspired by the NY map, Eisenberg's challenge and probably the promised free wine, one developer has decided to take on the task and created a simple tool to help Israel-based companies quickly add themselves onto the map. There is also a "who's hiring" section where companies can post job openings and that will definitely help job hunters who want to find those hot jobs in Israeli startups.

Amazingly, Ben Lang, who created this map, did it while he had some time off from the army. Hopefully someone will help him take it to the next level because some features are missing: wider map, company search, clickable links, street view, related photos, etc.

Meanwhile, If your company based in Israel, make sure to add it to the list now available at mappedinisrael.com.

Source Go2web20

Sunday, May 20, 2012

Earthquake retrofit regulation to accelerate renovation

It will now be possible to add 2.5 additional floors to buildings as part of National Outline Plan 38 or Tama 38 (allowing retrofitting of existing structures to make them earthquake-proof in exchange for additional building rights), after the ministerial committee for internal affairs and services today approved the third amendment to the plan. The National Planning and Building Commission approved the amendment three weeks ago.

Under the amendment, it will be possible to add up to 2.5 floors to existing buildings retrofitted to withstand earthquakes, and obtain building rights to another lot in exchange for the retrofit. The amendment originally allowed the addition of 2.5 floors to buildings in poor areas only, and 1.5 floors in wealthy neighborhoods. But following the recommendation of the investigator who heard the objections to the amendment, the government decided to apply the new rules uniformly nationwide.

The Ministry of Interior says that the amendment will further encourage the renovation of old buildings.

Source Globes

Friday, May 11, 2012

South Tel Aviv to become a High Tech Hub

The Tel Aviv Municipality continues its program to upgrade the south of the City. At a meeting held this week the City Manager announced that they had decided to establish in the neighbourhoods of Neve Shaanan and Shapira a new High Tech Hub. The municipality explained that start-ups deciding to establish in that area will receive various benefits, including discounts on municipal taxes, benefits from upgraded facilities and assistance from a new fund designed to support technological incubators. "This will encourage new populations to enter areas that have been neglected up until today" said the municipality.

Just last month the local committee approved the municipality Master plan for Tel Aviv now called "Tel Aviv 5000" and which determines the design trends for the city by 2025 and which includes construction of an additional 35,000 housing units. Under this plan, the Abu Kabir detention centre will become a business district and most importantly, the central bus station of Tel Aviv which currently houses a shopping centre, will become a large business complex. Enough to boost the neighbourhood, known today for his poverty and insecurity on the rest of the city.

The municipality also made ​​population projections estimating that roughly 486,000 people will be living in Tel Aviv in 2025 (compared to 400,000 currently). Mayor Ron Huldai said he welcomed the approval of the plan after 4 years, 15 meetings of the local committee, planners and consultants as well as 50 meetings involving the public in which more than 1700 residents participated. A mammoth task for Tel Aviv .

Source Ynet

Thursday, May 10, 2012

Meier on Rothschild reaches 12th floor

Meier on Rothschild Tower which is being built on an area of 3.57 acre on the corner of Rothschild Boulevard and Allenby Street has now reached the 12th floor. Apart for the tower, the project also includes retail space.

The tower will include 37 floors built over 6 floors of parking space. On top of the shopping centre that will total 2900 square meters will be a private pool, a SPA and a courtyard. Building was originally approved for 27 stories, but the developer successfully managed to obtain additional building rights for an extra 10 residential floors making the tower 158 meters high from street level.

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Thursday, May 3, 2012

Renovation spree continues in Tel Aviv

Garlic cloves hung from the front door at 9 Bialik Street in Tel Aviv as a harbinger of good luck for the new owners. Last year the residential building was completely renovated. Its historic features were preserved, three underground floors were added, the facade was painted and the windows replaced. Now it is a bright, polished home that looks as though plastic protective wrappings were just removed from it. But the main change is that what was once a building of apartments will now serve as the private residence of the Gertler family from Britain, which has developed a small hotel empire in Israel. Thus 9 Bialik Street has joined a group of historic structures in the city that over the past decade have been transformed from apartment buildings to private townhouses owned by the wealthy.

The most conspicuous example of the trend is the Pagoda House on King Albert Square, at the corner of Nahmani and Montefiore streets. For years the building stood in a state of disrepair before being purchased in the late 1990s by Swiss-Jewish billionaire Robert Weil, for $5.5 million. Weil funded a lavish renovation, and the Pagoda House turned into one of the city's most eye-catching structures. Not far away, on the corner of Nahmani and Goldberg streets, the deserted Lodzia factory, known as the Red House, was purchased by businessman-philanthropist Roni Duek. It too is slated for thorough renovation. Marius Nacht, one of the founders of Check Point Software, purchased a historic dwelling in the city's Neveh Tzedek neighborhood. Attorney Dan Lahat, son of legendary Tel Aviv Mayor Shlomo Lahat, lives in a three-floor villa on Karl Netter Street.

No. 9 Bialik Street was built in 1928, when the eclectic building style was reaching its peak in the country. Architect Pinchas Philip Huett designed an opulent structure replete with Parisian balconies and art deco stairwells. Particularly conspicuous is the decorative rooftop that caps two columns in the building's entrance area - a unique feature of Tel Aviv's architectural repertoire that looks like a small temple. For years 9 Bialik Street served as an apartment building, but due to a lack of adequate maintenance its condition deteriorated. The Gertler family purchased the entire building and hired architects Gidi and Tal Bar Orian to design a renovation plan. Gidi Bar Orian explains that the new design caters to the family's needs: The ground floor features a living room, kitchen and communal area; the second floor is divided into children's bedrooms; and the parents' bedroom is on the third floor. The building can be divided into a number of self-sufficient living units, each equipped with a kitchen and bathroom.

During the renovation, space was dug out for an underground parking lot and a large hall to house the family's art collection. A pergola sits on the building's roof and will function as a kind of summer living room. The building's total area is 1,100 square meters - about six times the average size of an Israeli home. "We made an effort to preserve as many of the home's original components as possible in the renovation," explains Bar Orian. "For instance, we preserved the building's decorative flooring. The renovation created an interesting combination of old and new. It was important not to turn the building into Disneyland and so we chose subtle colors for the exterior. The big challenge involved the interior design: The trick was to create a sense of a private house, and overcome the staircase, which is the sort that is ordinarily used in an apartment building."

The renovation at 9 Bialik Street contributes to a renewal process in this street that has been going on for the past three years. The Tel Aviv municipality invested considerable sums to upgrade street infrastructure. Electric cables were installed underground and Bialik Square was renovated. Two years ago Beit Ha'ir, a museum and cultural facility located in the old municipality building on the square, opened. The nearby Reuven Rubin Museum will apparently add a new wing, and at the end of the same street a small Bauhaus-style gallery opened in a building owned by billionaire Ronald Lauder.

This renovation spree has clear real estate implications: real estate agents estimate that prices on Bialik Street are 10 percent higher than those on nearby roads. Will Bialik Street turn into a thoroughfare for the rich only, and will more of its buildings be converted into exclusive villas for wealthy home buyers from Israel and overseas? One senior official at the Tel Aviv municipality dismisses the trend as a small-scale phenomenon. "It's better that it happens here rather than somewhere else," he says, referring to the city taxes that will flow into the municipality coffers from the pockets of the new homeowners.

Source Haaretz