Tel Aviv Seafront Apartment Sells for NIS 81.5m

Despite a few big sales, the luxury market is in retreat; foreign buyers no longer prepared to pay whatever it takes to snag what they want.

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The highest-priced residential real estate sale in Israel for the first half of the year came in June, with the purchase of a 10-room apartment on the 17th floor of developer Henry Taic's David Promenade...