Tel Aviv bubble: Akro sold apartments for an average price of NIS 6 million

by time news
The past year was particularly difficult for investors in real estate stocks on the stock exchange, who lost tens of percent of their value against the background of the sharp increase in interest rates in the economy, which makes the mortgages of apartment buyers more expensive on the one hand and increases the financing costs of the companies themselves on the other hand. However, the financial reports of Acro Real Estate, which focuses on initiating projects to build apartments in Tel Aviv, they teach that 2022 was a record year for the company’s results, which trades at a value of approximately NIS 2 billion. This is after a 50% drop in Akro shares since it was issued in Tel Aviv a year ago. The Tel Aviv Construction index, in which the company is included, plunged by 45% during that period.

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