A Templar house slated for preservation in Jerusalem’s German Colony has been sold for NIS 32 million. The house at the corner of Yitzhak A. Cremieux Street and Yochanan Smuts Street was bought by a family that immigrated to Israel from the US 10 years ago.
The 490 square meter house, part of the Ahuzat Cremieux project, is on a 600 square meter lot with a 358 square meter garden. The house comprises three floors and a basement and includes a spa, sauna, fitness room, swimming pool and two parking spaces.
The original Templar house has a strict preservation order, with additional building rights used on the eastern part of the plot, which was empty. Some of the building rights were used to expand the Templar house by excavating the basement, which did not change the character of the building.
The house itself was renovated by incorporating contemporary elements including wood, stone and metal. Electrical systems and advanced heating and cooling systems were installed. The floors are connected by a unique metal staircase, which it is estimated cost close to NIS 1 million. In addition, an elevator was installed in the house from the parking lot. The house was sold without a kitchen and the buyers will install one themselves at their own expense.
Daniel Bouzaglo of Daniel Bouzaglo Real estate, which brokered the deal, said, "Demand from foreign residents, including Israelis who left the country, has since shortly after October 7, even exceeded the high demand that was here immediately after the start of the Covid pandemic. - peak demand not seen for 20 to 30 years."
He added, "The luxury market in the city is vibrant, and even in areas where the prices were considered reasonable, such as the Arnona, Rassko, and Kiryat Yoval neighborhoods, are already being marketed at prices that, until three or four years ago, were typical of the more expensive neighborhoods of the city. Many projects are approved 'on paper', but construction is delayed because there is a huge lack of building workers. There is a bottleneck in construction and completion will be delayed by a year or more, which will create another jump in prices."
Published by Globes, Israel business news - en.globes.co.il - on July 21, 2024.
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