The average rent has fallen from NIS 111 per square meter per month to NIS 109.
For the first time in years, office rents along one of Tel Aviv most prestigious streets, Rothschild Boulevard, fell in the first quarter of 2014, according to Inter Israel Real Estate Consultants, an affiliate of Cushman & Wakefield. Its quarterly survey found that the average office rent on Rothschild Boulevard fell from NIS 111 per square meter per month in 2013 to NIS 109 per square meter in the first quarter of 2014.
The average office rent in the Bnei Brak Business Center (BBC) dipped from NIS 73 per square meter per month in 2013 to NIS 72 per square meter in the first quarter. The average office rent was unchanged in other leading business areas: Ramat Hayahal, Yigal Allon Street, Shaul Hamelekh Street, on the waterfront, and in Ramat Gan's Diamond Exchange. The average office rent rose in just one location: along Menachem Begin Road, from NIS 99 per square meter per month to NIS 100.
Published by Globes [online], Israel business news - www.globes-online.com - on April 16, 2014
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