Ghost Towers: Jerusalem's Empty Luxury Apartments

We investigate the phenomenon of intentionally vacant luxury apartments in Jerusalem high-rises — units purchased as pure financial instruments, never occupied, never rented, never visited. Drawing on a 2025 Jerusalem Institute for Policy Research report called "Vertical Vacancy," we explore how building managers navigate the legal gray area of ghost units, the cottage industry of "unit sitters" who flush toilets once a year for insurance compliance, and the financial mechanics of parking wealth in concrete and rebar. From shell companies registered in Delaware to the socialized costs of water damage and fire risk, this episode unpacks a quiet corner of the global luxury real estate market where apartments function more like safety deposit boxes with balconies.