As Israel’s real estate market continues to slow, with fewer transactions and more cautious buyers, the luxury segment appears to be holding up better than most. Demand for high-end residences and premium developments has remained relatively stable, even as the wider market searches for a new balance.
But the change is not only economic. The idea of what counts as luxury has also shifted.
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Demand for high-end residences and premium developments has remained relatively stable
(Photo: Oded Smadar)
Designer Arik Ben Simhon, one of Israel’s prominent names in luxury interior design, says clients at the top end of the market no longer want homes that simply advertise wealth.
“Luxury today is expressed differently,” he says. “It used to speak loudly; today, it whispers, but much more powerfully.”
According to Ben Simhon, buyers are looking for something more personal than a prestigious address, a dramatic skyline or expensive materials.
“Clients are no longer buying just a prestigious address or spectacular views,” he says. “They are looking for a sense of belonging, tranquility and a home that reflects who they are. If luxury was once highly extroverted, today it is much quieter and more understated.”
That shift shaped one of his latest projects, a duplex penthouse on the 44th floor of the Park Bavli development. The residence spans 360 square meters, with an additional 140 square meters of terraces, placing it firmly in the upper tier of Israel’s luxury market.
“Gal Naor, the project’s developer and architect, approached me to participate in the design,” Ben Simhon says. “Although it felt like a residence suspended above the city, it was clear to us that the design needed to feel warm, human and never ostentatious.”
He describes the apartment as “an almost heavenly experience,” but says the goal was not to overwhelm visitors with scale or glamour.
“I wanted the home to feel as though its residents were living among the clouds,” he says. “The panoramic views become an integral part of the living experience, so I chose a calm design language: natural tones, oak wood, light linen and brushed brass. Even on the 44th floor, this is a home with soul. Not flashy, but inviting. Not designed to impress, but to soothe.”
The use of natural materials, including wood, rattan and brass, was intended to soften the scale of the property and create a sense of intimacy, he says.
(Photo: Oded Smadar)
“The goal was to create a home that is truly enjoyable to live in, not simply one to showcase,” Ben Simhon says. “True luxury is not meant to impress others; it is meant to serve those who live within it.”
For him, the change reflects more than a passing design trend. It points to a broader cultural shift among affluent buyers, many of whom are placing greater value on privacy, emotional comfort and visual calm.
“People once wanted to impress; today, they want to breathe,” he says. “They are looking for warmth, softness and visual clarity. True luxury is not measured by the amount of marble used or the size of a space, but by the sense of calm it creates the moment you walk through the door.”
Ben Simhon says luxury buyers themselves have changed. They still expect high standards, but they are less interested in homes that feel like status symbols and more interested in spaces that support a certain way of life.
“They are looking for a balance between privacy and a sense of belonging,” he says. “They want to be part of an environment that offers a high quality of life, without feeling the need to announce it to the world. The new luxury is more human, warmer and more welcoming.”
In a market where many buyers have become more hesitant, the luxury sector’s resilience may say as much about lifestyle as it does about money. At the top of the market, demand has not disappeared, but the language has changed: less spectacle, less theatrical wealth, and more emphasis on comfort, calm and long-term quality of life.
“True luxury is not measured by price per square meter or the height of a building,” Ben Simhon says, “but by the quality of life it creates. When a home provides peace, comfort and the feeling that you are exactly where you want to be, that is true luxury.”
Today’s luxury no longer needs to shout. Its value may lie precisely in how quietly it makes itself felt.