After a jumpy week at the local stock exchange, the Tel Aviv real estate community are getting prepared for a long recession. It’s been a great year for Tel Aviv property owners – Value has been growing and growing for a while to levels no one expected.
But every bubble has a bursting point, and everything that goes up must come down eventually. does it mean Tel Aviv is no longer a source for opportunity and investment? only time will tell. I don’t think so.
But with the world financial crisis, the sub-prime bubble in the U.S. I would definitely expect a slowdown, and for things to calm down for us here.
Another interesting influence might be the upcoming local elections, whicn might be the end of long time mayor Ron Hulday, a big supporter of Real estate sharks, Luxury towers and a great attraction for wealthy citizens.
The calming down of alien citizens from Europe, France and Asia, affected by the world economy situation, might also help calming down price skyrocking and such.