If there is one thing that Israel has no shortage of, it’s an extremely rich past. From biblical sites to contemporary national landmarks, Israel is loaded with possibly more notable locations than anywhere else. However, as time goes by time takes its toll on these sites, and without the proper preservation and restoration they face the peril of slipping away forever. While conventional wisdom would suggest that living in the past is hardly the way to live, there is something special about, well, living in the past! Thankfully, there are an increasing number of municipalities and architects who are hard at work at have taken the initiative to keep the “good old days” intact, and in this guest blog by, The Agency Israel, we find out what you need to know when it comes to these properties.
Since the UNESCO declaration regarding the heart of the city of Tel Aviv as a conservation area, the Tel Aviv Yafo municipality has embarked on a plan to preserve specific buildings that were built at a certain time according to the Bauhaus principles and other architectural trends designed by well-known architects from Israel and the world. However, these types of renovation require strict adherence to raw materials, a specific building style and the use of special wooden shutters in the same original style, it is not surprising that the cost of reconstruction is higher than regular construction.
Despite the high costs, purchasing an apartment in a conservation building also includes many advantages:
- The rise in value – the occupants of a building that underwent a preservation project benefit from the increase in the value of the apartments – both due to the improvement of the entire property after the completion of the conservation work and due to the fact that this is a special building that is part of the history of the State of Israel.
- Investment for the future – a building that underwent a conservation process not only fuels the value of apartments in the short term, but also constitutes an economic investment for the future: the value of the building itself and of course the apartments in it are expected to rise in the long term.
- High Standard – Since a conservation project is carried out according to a detailed list of binding rules, the body conducting the actual procedure is required to present a special professional skill. In other words, we are talking about meticulous planning, the use of quality building materials and strict supervision of all phases of the project, which are combined to perform at a higher standard than is customary in the real estate market.
- Environmental prosperity – Not only the residents of the building who underwent a conservation project are witnessing an increase in the value of real estate, but the entire environment (the so-called “second circle” and “third circle”). Attracts many visitors from Israel as well as tourists from abroad, enjoys a flourishing business (opening new businesses as well as growing activity in existing businesses such as cafes, restaurants and shops) and attracts many young people interested in residential apartments in a vibrant environment, With the “fragrance of the past”.
As time goes on more and more of Israel’s historic properties will continue to age, becoming candidates for conservation. As this happens, new and interesting opportunities will be created for both buyers and sellers, and while there are serious considerations to take into account when it comes to owning such a property, at the end of the day, almost everyone can agree that it’s nice to know steps are being taken to make sure these potentially endangered species stick around for a long time.
Founded in 2011, TheAgencyIsrael, specializes in premium estate in Tel Aviv and Herzliya Pituah. For questions and additional information about conservation buildings and more, visit their website now at theagencyisrael.co.il
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