Foreign buyer snaps up Ashkelon penthouse for NIS 7.5 million
A Foreign resident just bought a massive Ashkelon penthouse.
The short version
- The six-room home sits in Afgad's Breeze project.
- The price hit NIS 7.5 million after a prior deal fell.
- That matches the tag from two years ago.
A massive penthouse in Ashkelon just sold for NIS 7.5 million to a Foreign buyer, according to Globes. The 188-square-meter home sits on Modiin Street in Afgad's Breeze project, featuring six rooms and a 115-square-meter balcony just two streets from the sea.
Afgad, a real estate development company, built the complex with 175 apartments spread across a 23-floor tower and two 10-floor buildings. This is actually the second time this exact apartment found a buyer at this price. Two years ago, a retiree signed a contract for NIS 7.5 million, but the deal collapsed late last year when she failed to sell her own two properties to fund the purchase.
The developer, Afgad, kept the price flat for the new buyer despite years of market climbs. Yael Dekel, vice president of marketing at Afgad, noted that proximity to the sea drives values sky-high, pointing out that an identical home elsewhere in the city would fetch half the price.
The buyers are a US couple who plan to split time between Israel and the US, touring the property just once before handling all negotiations remotely. Non-residents make up over 20% of the buyers in the project, closing deals without batting an eye at higher interest rates or local market swings.
For anyone watching coastal real estate, the flat pricing after a two-year gap amounts to a real-term price cut on luxury views.
