For the price of a Tel Aviv apartment, one can buy a private island, a castle or a whole village
Israel have escaped the 2008 global financial crisis relatively unscathed, and so did its huge housing bubble, which continues to grow each year.
The typical price of a four-room apartment in the center of Tel Aviv have sharply climbed over the last eight years and is currently between 2.6 million and 3 million shekels (nearly a million dollar), according to Madlan website, which provides housing data based on Tax Authority records.
In the upscale neighborhoods of Tel Aviv new four-room apartments are currently on the market for about 6 million shekels ($1.6 million) and second-hand apartments run for about 5 million shekels.
According to daily Haaretz, for the same price and sometimes for much less, one can choose instead to buy luxury properties across the world that might even include a forest, a private beach, a sky slope or a coral reef.
(*Tel Aviv Housing Prices on the Rise 2006-2014: Purple – Tel Aviv; Blue – Israel)
A private island
In the Private Island Online website, it is possible to buy the private island of Alligator Caye Parcel in Belize in Central America for just $99,000.
A group of small islands make up about 43 dunams (just under 11 acres) of virgin territory, accessed only by boat. The major attraction in the area is a coral reef that, at about 300 square kilometers, is the second largest in the world and has been declared a UNESCO world heritage site.
For up to half a million dollars, the snowy Alps offer a large selection of places for sale that are cheaper than central Tel Aviv.
One unique site in the Austrian Alps, which includes 26 kilometers of ski slopes, a snowboarding site, an ice-skating rink, a restaurant, four residential huts and an equipment rental shop. It is sold for a nominal one euro and comes with an annual economic grant estimated at about 1.4 million euros, all in an effort to attract investors to develop the spot.
On the Italian side of the Alps, there is an entire village for sale for about $333,000. Calsazio, currently home to just eight residents, seeks attract young people to the area. It includes 14 homes of wood and stone, pasture land and a forest.
Real estate in Thailand is cheap compared to Tel Aviv and Europe. Rightmove Overseas website advertises properties on the popular Koh Samui Island for a maximum of a million dollars.
A new private home on the western coast of the island costs $863,000 (the price of a four-bedroom apartment in Tel Aviv). The house comes with a view of the water, a private beach, a spa and a private pool, three bedrooms and security and cleaning services instead of pollution, traffic, noise and never ending construction projects.
A room with a view
American writer J.D. Salinger’s house in Cornish, New Hampshire is up for sale for about $680,000. It is a 270 square meter (2,900 sq ft) home on a 50 dunam (12.5 half acre) lot. The house has five bathrooms and four bedrooms.
Castles in the air?
For a million dollars, one can even live in a castle.
France’s Loire Valley has about 300 chateaus, most of them built in the 10th century. The region was designated a UNESCO heritage site in 2000.
The French real estate website Le Nail is offering a chateau for sale for 496,000 euros (less than 2.4 million shekels), featuring 540 square meters of living space on a 32-dunam piece of property. The ground floor includes a living room, dining room, work room, a bathroom and three additional rooms. One floor up, there are nine bedrooms and two bathrooms and on the upper floor there are seven more bedrooms and two bathrooms.
Another option is an estate in Cleveland, Ohio that was built in 1915. It has an asking price of $900,000. The 2,260 square meter (24,300 sq ft) home features eight bedrooms, eight bathrooms and two acres — eight dunams — of garden.
For $999,000, one can buy a 315 square meter (3,400 sq ft) house on 10 acres, or 40 dunams, in the picturesque state of Vermont. It has eight rooms, including three bedrooms on grounds that include a pond with a fountain.