Standing on the sun-drenched rooftop of what might be the largest private residence in Jerusalem, Tomer Dowek described how a mansion in the capital’s central Talbieh neighborhood became part of Israel’s cultural history.

“When industrialist Miles Sherover opened this home in 1956, it was the largest private residence in Israel, and became a center for hosting heads of state, international dignitaries, and the elites of Israeli society,” explained Dowek, vice president of business development at Prosperity Real Estate, the agency managing the estate’s sale. “There are no private estates of this scale available today.”

The property, popularly known as Villa Sherover, features a massive home of 1,200 square meters (12916 square feet). It’s designed for an owner who likes to host large events.

In addition to large areas designated for bedrooms, entertainment halls, wine cellars, and an indoor swimming pool, its three stories of built space include historic works of art, along with delivery docks and side entrances for caterers to prepare for large feasts without interrupting the residents.

The original 5.5 dunam (1.4-acre) plot was recently split up, and the lower half now accommodates the new One Dubnov luxury apartment complex overlooking southern Jerusalem. But with 2.4 dunams (0.6 acres) of land remaining, the property remains a unique asset in Jerusalem — and it’s available to the right buyer. (The seller has requested not to publish the asking price.)

“We have several people from overseas who are currently showing interest,” said Ronit Dowek, the owner of Prosperity and Tomer’s mother, during a private tour of luxury homes with The Times of Israel. “Properties of this caliber don’t become available very often in Jerusalem.”

Properties of the level of Villa Sherover are seeing increased demand in Jerusalem as wealthy Jews from around the Diaspora seek to relocate their lives to the Holy City.

A growing number of overseas investors are purchasing homes in the range of NIS 10-25 million ($3.1-7.8 million) in Jerusalem, local real estate agents say. A smaller segment of ultra-wealthy buyers is interested in larger, more unique homes that can cost NIS 100 million ($31 million) or more.

“We are talking about people that 10 years ago would have typically bought small apartments for vacation rentals,” explained Oren Cohen, who founded the Oren Cohen Group, which specializes in luxury real estate in the capital, more than 30 years ago. “But now, we’re seeing these people buy big homes of 250 square meters (2,690 square feet) or more, and spending a lot of money on interior design, because they want to live here with the same lifestyle they have abroad.”

Rising antisemitism is the main factor driving Diaspora Jews to purchase homes here, agents say. In the UK, for example, more than 60 percent of the Jewish community say they have considered leaving the country since Hamas launched its war with Israel on October 7, 2023, and more than half feel that they do not have a long-term future in the UK, according to a recent survey by Campaign Against Antisemitism.

However, shifting social dynamics also play a significant role, as many see their children moving to Israel and want to stay close to their families. That means they are planning for the rest of their lives, not just short visits.

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© The Times of Israel