The Jewish Chronicle

Mount Scopus sale as property prices soar

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AFTER a long process that included an auction, the prestigiou­s Bezalel Academy of Arts and Design has sold its Jerusalem campus for £21 million. The site will now be turned into senior citizens’ nursing and assisted living facilities. Bezalel’s academic activity will be moved to the Russian Compound, located in the centre of the city.

Meanwhile, a Bank Leumi assessment has noted property prices in Israel’s central region, including Tel Aviv and Jerusalem, will continue to rise despite government initiative­s to increase housing supply and lower prices. Recent transactio­ns include a seven-room penthouse in Raanana for £900,000 and a four-room flat in Tel Aviv that went for £1 million.

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