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Azorim marketing apartments with hotel service in Jerusalem

September 26, 2013 19:49

The luxury apartment market in Israel already has a unique variety of options, many of which cater to foreign owners.

Haneviim Boutique residence, Jerusalem

Haneviim Boutique residence Jerusalem Azorim370. (photo credit:Courtesy, Azorim)

The Azorim building company is opening a new breed of luxury apartments in Israel, building a complex that is to include full hotel services.

Buyers who snatch up any of the 87-apartment in Jerusalem’s Hanevi’im Boutique will have access to hotel like services including a spa, business lounge, housekeeping and room service, “providing them with the elegance of a five star hotel with the convenience and comfort of home,” according to the company.

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“Our concept is to combine the relaxing feeling of vacation with the convenience of being at home,” said Hershy Friedman, owner of Azorim. “The results speak for themselves.

We have already sold half the project.”

The luxury-apartment market in Israel already has a unique variety of options, many of which cater to foreign owners. For example, one common model sells apartments in hotel buildings with a time-share element; owners who plan on visiting only for one season in the year let the hotel rent out their apartment for the remaining months, saving on costs.

In extending that model to include full-on, year-round hotel services, Azorim continues its sometimes experimental forays in the real-estate market. Earlier this year, The Jerusalem Post first revealed the company’s plans to import an entire, existing community from abroad to reside in a newly built apartment complex.

“We are always looking for unique projects in prime locations that bring the quality and luxury that Azorim is known for, while providing a considerable investment advantage over our competitors for our clientele,” said Aya Roesh, Marketing manager for Azorim.

The boom in the housing market, however, caused both by a shortage of supply and strong demand from investors, has led the Bank of Israel to set out more stringent terms for investors buying real estate.

Between 2008 and 2012, the average home price skyrocketed 54 percent, while average household income in the country rose by only 20%.
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