"Where in Jerusalem can someone buy an apartment for under a million shekels?"
– Jerusalemites FB group
-"There’s no such thing."
– "Armon HaNatziv [neighborhood]"
[In response:] “Maybe a one-bedroom apartment. Prices have gone up there too… It's like everyone thinks they’re in Arnona [neighborhood]."
-"You can maybe get a storage unit, but not an apartment."
-"In Monopoly… or maybe, a room in Rehavia [neighborhood]."
-"For a million shekels, you can only afford a toilet."
-"You could probably build something out of cardboard from a recycling bin."
-"Shuafat [a Palestinian neighborhood of East Jerusalem]"
[In response:] “No way. Apartments in Shuafat are expensive.”
– "People get carried away and demand ridiculous prices. […] As long as there are people willing to pay, prices will continue to rise. [It's the same thing with rent] People keep renting. So, apartment owners take advantage of the situation and keep raising the rent prices. It’s a never-ending cycle."
0202 Editor's Notes:
Rising property and rent prices in Jerusalem have been a major cause for concern, and have been a topic of much public discourse in the past years. This is a concern in Jerusalem and all over Israel.
#Property_Value #Inflation #Rent_Prices