New skyscraper in Tel Aviv – a way out of the housing crisis?

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 New skyscraper in Tel Aviv - a way out of the housing crisis?

The plan includes 500 relatively small apartments — studios and apartments with one and two bedrooms. The small size of apartments — this is a deliberate move to try and meet the demand of young couples who cannot afford large living space.

This will be the first time such a building has been built, as the dominant construction method in recent years has relied on relatively large apartments designed for for sale, not for rent. The proposed 500 apartments that will be in the new building are specially designed for young couples and relatively elderly people who may not need as much space as families with children.

Tel Aviv Regional Planning Council regional planner Erez Ben-Eliezer said that “the real estate market should be developed through long-term rental apartments that will compete for quality of life, service level and efficiency.”

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