Thursday, May 26, 2011

Tel Aviv and its Luxury Apartments

My pictures show two of the three Akirov - Towers in Pinkas Street / Tel Aviv

Photo: Miriam Woelke


Tel Aviv is has been building luxury apartments for the past few years and continues doing so. Despite the fact that most inhabitants are not able to afford any luxury, the city keeps on trying to attract rich investors. Including wealthy Jews from France and the US who don't really care when they destroy our local price system and people who actually live in Tel Aviv and Jerusalem are being pushed out of some of their own neighbourhoods. 


  1. its a sad development.. But its the standard and usual development of any capitalist country.. Why would Israel be any different? Where do people who can't afford to live in tel aviv any longer usually go?

  2. B"H

    For quite a while, people with a lower income or who are simply unwilling to pay the enormous rents in Tel Aviv have been moving into the outskirts such as Holon, Bat Yam or Rishon LeZion. But also in those smaller cities, real estate prices have been skyrocketing.

  3. Now, Israel has become the land of the millionnaires. If you don't have millions or a millionnaire friend, or a millionnaire Rebbe (like the Gerrer Rebbe and others), there is no way to build, no way to find something affordable.

    What is sad is that life seems cheaper for tourists and outsiders, while Israelis are struggling in their daily lives.

  4. B"H

    The Akirov Towers on the photo are more for secular Jews but when you go to Bnei Brak, you can see how many Haredim live in luxury. I heard that the Gerrer Rebbe has a kind of castle.:-) Indeed, he is one of the richest men in Israel although nobody really knows how Gur became wealthy. Before the war and back in Poland, they were, more or less, quite poor.

  5. "you can see how many Haredim live in luxury"

    With which money? Where does it come? That is the question.

    As for Gur, not only they were quite poor before the war, but they were among the most miserable Jews of the time.

    Bli Ayin Hara, I just hope their money does not come from laundry activities, as recently, some chasidic Rebbes were caugt in laundry problems.

  6. B"H

    Gur doesn't really say it but what they basically state is that they made their money in real estate. I can't really believe that when you look at the times after founding the State of Israel and Gur suddenly becoming wealthy.

    In Israel, many Haredim are dealing in finances and stocks. Real estate is another popular branch.

  7. interesting blog. It would be great if you can provide more details about it. Thanks you

    Luxury Apartments