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Dateline: Gaza's New Millionaires

House prices in Gaza have trebled in four years, but as Dateline reports, the unlikely property boom is also widening the gap between rich and poor.

One of the many luxurious homes now being built in Gaza.

It’s an unlikely place for a property boom, but in Gaza, house prices have trebled in just four years.

Its fast-growing population is virtually trapped on a small strip of land, with many buildings destroyed by conflict, and that means big competition for what’s left.

In a report shown on SBS's Dateline, Seyi Rhodes meets some of the instant millionaires feeding the demand for high-end properties, but the gap between rich and poor is also building.

He meets families at the bottom of the housing ladder, forced into poor quality homes in the districts most likely to come under attack.

But there’s also an underground world behind this story… the Israeli blockade means building materials have to be smuggled through tunnels under the Egyptian border, and that too has created new wealth.


1 min read

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Source: SBS


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