The real estate bubble in Bat Galim - a distressed neighborhood on the waterfront
Finally an authentic article in the press about the situation in Bat Galim. A distressed neighborhood completely neglected with a weak population
and many guests from abroad. No education, no cleanliness and maintenance and no security for the residents.
But a lot of investors from the central area and interested parties bought neglected apartments here for rental purposes and inflated a real estate bubble here.
From the article: "Couples of young academics who leave the neighborhood", "Fields of thorns and overflowing sewage", "Giant traffic jams and air pollution".
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Sewer in Bat Galim - Photo: Ehad Shafran
On the other hand, the entry and exit of thousands of vehicles to the parking lot now being built in Rambam, and the planned branch in Allenby - which will result in the entry of thousands of vehicles into the neighborhood throughout the hours of the day, together with the cancellation of the parking lots next to the quiet beach (currently hundreds of vehicles go to the parking lots on the beach and do not enter the neighborhood) may cause a decrease Significant value of properties on the second Aliyah street and the adjacent streets.
When the construction of the Bat Galim Promenade and the Rambam Bypass Road are completed, there is a possibility that Shabbat Galim will begin to change.
I didn't see a reference to real estate here, but the prices embody potential. Sometimes it remains as potential (a bubble like neighborhoods near a central station in Tel Aviv) and sometimes it succeeds. If the municipality wants to, it can change the face of the neighborhood.