Light Rail Construction Will Not Bring Down Apartment Prices in Tel Aviv

The construction of the light rail in Tel Aviv is expected to begin next month, and the lives of residents in the area are going to change. Tenants living near construction sites are seeking a reduction in their rent, but most of the requests are being refused by landlords.

Less than one hundred meters separate the home of Yisrael Robtnik from the light rail. Next month his apartment will turn into a construction site. The sounds of digging, the dust, and the rats that will come as a result of the drilling sound like a recipe for an unpleasant living environment.

Yisrael requested a significant discount on the apartment from his landlord due to the disruption of his quality of life, but he said no. “The noise that we hear now is nothing compared to what will soon occur. However, the landlord even raised the rent.”

Homeowners do not receive benefits or compensation for the construction of the railway, so they are reluctant to lower the price of rent for tenants despite how much it will harm the quality of life. “There is definitely room for reduction in rent for those who will suffer,” said Ohad Danos, chairman of the Real Estate Appraisers Association. “You can request to start with a few percent until 15-20%.”

Nobody knows just how long the construction will take place and when life will return to normal. Currently landlords are not bringing down prices, but when the building stops they will definitely raise them.