Luxury apartment in Tel Aviv for one million shekels: The unusual offer from the Hagag Group
The company selling luxury apartments in Gush Dan has launched a new promotion: buyers can move into an apartment with an initial payment of one million shekels, with a guaranteed return of up to 52% over the first two years.
The Hagag Group is known for selling luxury apartments, mainly in Gush Dan and high-demand areas. Today, it introduced a new purchase model for the Infinity tower in Tel Aviv, allowing buyers to pay one million shekels upon signing the contract and move into the apartment without a mortgage or the use of a credit line. The balance is to be paid without interest or linkage in approximately three years. This is another step by developers to generate revenue and demand through attractive financing promotions.
The company promises buyers who choose to rent out their units a double-digit return during the first two years of occupancy, thanks to a commitment regarding the rental price. As part of this new model, more than 30 apartments are being offered. The Hagag Group undertakes to ensure the property is rented out during the first two years with a double-digit return on the initial amount paid (24%–52%) for those interested in leasing their property.
For example, buyers of a 2-room, 70-square-meter apartment are guaranteed a rent of at least 10,000 shekels per month for the first two years, totaling 240,000 shekels—a 24% return on the initial million shekels paid. For a 5-room apartment, buyers are guaranteed a rent of 22,000 shekels per month, reflecting a 52% return over the first two years, totaling 528,000 shekels in rental income.
This model was developed for those looking to upgrade their living situation who are dependent on selling an existing property and wish to avoid immediate mortgage commitments. It is also suitable for investors seeking guaranteed capital returns.
The company stated: "This unique model gives buyers flexibility and financial security by deferring payment without the need for a mortgage or contractor loan. The buyer is not required to take any credit during the interim period, does not need to sign loan documents, and does not limit their bank credit line, receiving about three years to sell their existing property or arrange alternative funding."
Hagag expects to occupy the Infinity project within the coming year. The luxury residential complex is located in the heart of Tel Aviv, on the Ibn Gabirol axis at the corner of Jabotinsky, near Kikar HaMedina and the light rail line. It includes 278 units, most of which have already been sold. The remaining apartments range from 2 to 5 rooms, with prices starting from 60,000 shekels per meter. The complex features a wide range of exclusive amenities, including an infinity pool.
