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Tel Aviv’s real-estate market is decidedly hot. A recently published global Mastercard study found 1.7 million tourists have stayed in Tel Aviv in 2017, an increase of 21 percent over the previous period in 2016.
In addition, the average tourist stay in Tel Aviv was 7.9 nights and the average spend per day was $142, according to the study.
Hotel Infrastructure and Future Potential
While most luxury hotels in Tel Aviv are located along Hayarkon Street facing the Mediterranean, many boutique hotels are located in the neighborhood of Rothschild Boulevard and the “White City” areas. New hotels recently opened in Jaffa but there are very few new hotels actually located outside these areas.
Tel Aviv is becoming a serious metropolis and as of 2020, the city will likely be physically connected to the cities of Herzliya to the north and Rishon Le Zion to the south. It is already connected to Petach-Tikvah to the east.
These cities are not small, with between 200,000 and 300,000 inhabitants. These figures do not...