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Israeli office rentals are on the rise
Israeli office rentals are on the rise
June 01, 2010In Q1 rental rates have increased by 4%, compared to the preceding quarter.
The average office rentals in Tel Aviv, the economic capital of Israel, have climbed up by 2.5%, compared with Q4 2009. In Ramat Gan, and Herzliya, the increase worked out 3% and 4.6%, respectively. Rental rates have remained stable in other major cities of the country - Jerusalem and Netanya.
Nationwide, the cost of office rentals ranged between $13-21 per sq. m. per month, the Globes reports, with reference to MAN Properties Research Company.
According to the company’s CEO, Jacky Mukmel, rental rates will continue to increase in the coming months due to the lack of new office space.
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