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Jerusalem's Ghost Towers and the Diaspora Buyer
Jerusalem has a record 10,340 unsold new apartments and an estimated 15,000 homes that sit dark most of the year — yet luxury towers keep selling out before permits are even filed. This episode traces how Israel Canada went from a Tel Aviv brokerage to the country's largest real estate developer, and why its flagship Midtown Jerusalem project is aimed squarely at diaspora buyers paying 51% above local prices. From Brooklyn's OP Jerusalem dropping a billion shekels on two towers near Mahane Yehuda to the city's quiet war on ghost apartments, we look at a housing market split cleanly in two —…
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