The third quarter of 2019 was characterized by stability in the office market.
- As a result of the summer season, activity in this quarter was low.
- Most of the office areas in the new projects have been absorbed.
- In this quarter, construction of the Green Line and the Purple Line of the light rail continued.
- Occupancy rates remained at a high level of 94%, given the demand for Class A office space.
- Prices in Tel-Aviv continued to rise, reaching an average of NIS 102/sq m.
The significant supply of office space that came on the market was largely absorbed. Most of the space available for marketing is held by private owners in multi-owner projects.