Why are rentals in Jerusalem 15k for tishrei

amother

Mon, Aug 22 2022, 7:43 pm

We have been dreaming and planning a family trip for an upcoming family simcha tishrei time and booked tickets for the month only to discover to our dismay that simple basic 3-4 bdrm apts in Jerusalem area are 10-15k some actually even asking 26k or more!!! We paid 3500 5 yrs ago in jerusalem area!

I do understand that for many the rents have climbed but is that across the board and to such an insane degree? Some are actually owners of apts so whats the general reasoning?!

Are they just taking advantage?

amother

Papaya

Mon, Aug 22 2022, 8:09 pm

Supply and demand.
2019 prices were definitely close to 10k or the 10k range
2020 no one could go
2021 only people with permits could go, so you could actually get gorgeous villas for 10k
2022 this year people who haven't been in a while are going and there will be a lot of demand

amother

Snowflake

Mon, Aug 22 2022, 8:44 pm

amother Papaya wrote:

Sorry but it's not due to supply and demand.
It's greed and exploitation. Period.

camp123

Mon, Aug 22 2022, 9:07 pm

Prices of apartments have increased like crazy.
There are a shortage of apartments
Electricity prices have increased which makes air conditioning these apartments very expensive.
Prices of cleaning had increased.
The shekel is strong against the dollar.
The market sets the price. People will always say a price based on what they can get for something.
It's not exploitation it's a free market economy.

amother

Papaya

Mon, Aug 22 2022, 9:17 pm

amother Snowflake wrote:

Sorry but it's not due to supply and demand.
It's greed and exploitation. Period.

What are they exploiting?
Who exactly is forcing anyone to pay these prices?
Do you know how know this information?
A lot of my family goes every year.
Do I go?
No.

They pay because they want to.

I don't.

I don't think you understand what exploitation means

amother

Snowflake

Mon, Aug 22 2022, 9:22 pm

Quote:

I don't think you understand what exploitation means

Exploitation is the act of selfishly taking advantage of someone or a group of people in order to profit from them or otherwise benefit oneself. Exploitation is a noun form of the verb exploit, which commonly means to take advantage in such a way.

DrMom

Mon, Aug 22 2022, 9:26 pm

camp123 wrote:

Yeah... but there's also an element of price-gouging at play.

amother

Hotpink

Mon, Aug 22 2022, 9:55 pm

I rent out my apartment in Jerusalem for around that amount. Have been doing it for more than ten years. I don't think prices are significantly more this year than they were pre corona.

It's a crazy amount of work to rent out. We need to store all of our stuff, clean more than pesach, rent another place to stay, move out with my kids for 2 weeks plus of course the electricity, water, new linens, home improvements (we generally paint and fix up whatever is broken). It needs to be worth it. For less than the amount that I'm getting, I would just stay home and have a nice chag in my house without all the work.

I agree the prices are high. But it's much cheaper than getting 4 hotel rooms and paying for all of the hotel meals and must be worth it for people because from what I hear, most apartments are rented out already for this year.

Zeleze

Mon, Aug 22 2022, 10:00 pm

I ask a cousin that is renting her home for Tishre in Machal, she says that is she is renting another apartment in Bet Shemesh for Yom Tov, and is only making about $5000 at the end of the day, which she will split up for the coming year, 500 extra to live off for the next year

That's how dire she is for a extra few pennies

I'm not saying that the expensive prices are justable, but think of her that she also needs to go elsewhere and still support her family, she won't make that much at the end of the day

amother

Mon, Aug 22 2022, 10:05 pm

amother Hotpink wrote:

We also rent out our houses here in Brooklyn and were just as post covid and financially swiped as Jerusalem is. Don't think anyone in their right mind here would ask over 10k for the month and that would be for a tremendous americanized nice place. Yea we also clean and store etc...

I'm trying to not see it as exploiting and that's why I'm asking for the other side to try to be DLZ

amother

Smokey

Mon, Aug 22 2022, 10:23 pm

amother OP wrote:

You wouldn't ask 10,000 bc you wouldn't get it. But, if people were willing to pay 10000, would you say no, I'll rent it to someone who wants to pay 8000?
There is only one Jerusalem in the world and a lot of people who want to stay there. If the price were cheaper there would be less apartments to rent bc people wouldn't bother.

Zeleze

Mon, Aug 22 2022, 10:50 pm

If you know that your money is going to a Kolel or Mir Yungerman, for his monthly expenses, it might give you some comfort.

Again not trying to justify the amount they ask (which each year goes up) but some live out of this income the entire year

Ruchi

Mon, Aug 22 2022, 11:26 pm

amother Smokey wrote:

There was always places to rent even when the prices were way cheaper.

amother

Mimosa

Mon, Aug 22 2022, 11:28 pm

amother OP wrote:

Try getting a house upstate for the week of sukkos(and that’s an empty house where the owners stuff aren’t there) and see what they charge.
Not that different.

Ruchi

Mon, Aug 22 2022, 11:30 pm

Zeleze wrote:

Quite a number of these rentals are being let by couples/families that get supported by their parents /in laws back in the USA And the UK/Europe
They are travelling back home for Yom Tov with paid tickets. This rental money is extra pocket money for them.

amother

NeonOrange

Mon, Aug 22 2022, 11:34 pm

Very simply, alot of people say they can only go home for yt if the rent covers the price of travel etc.
If they don't rent they stay in Israel.
You dont have to take the appt but if you want to the only they can rent it is if you pay the price.