Despite higher interest rates to involve inflation, the value of assets in Israel has continued to rise. The most recent figures show year-on-year increases of 19%, with all regions of the country recording double-digit jumps. Market knowledge shows that fewer homes are hand conversion amid increases in value.
In a market like this, asset values move particularly from month to month. That’s why this feature analyzes homes sold in the last 4 to 6 weeks, Israel’s asset tax database to locate the final costs paid for the properties. The struggle to move up the ho ladder doesn’t just apply to young, single couples. Families looking for a house with at least 3 bedrooms (or 4 bedrooms in Israel) are keeping a close eye on the market and looking for how much they can afford.
1. In downtown Jerusalem, Menashe Street, near the Old City, four-bedroom (five-room) assets were sold in early September for NIS 4,250,000 ($1,237,623). The unit covers 75 square meters (807 square feet) in a construction built in 1970, on a 3rd plot of six.
2. In Holon on Saadia Gaon Street, in the northern component of the city near Wolfson Medical Center, a three-bedroom (four-room) component sold for NIS 2,230,000 ($649,388) in early September. The 73-square-meter (786-square-foot) apartment is currently on the six-floor building dating back to 1994. The sale of the apartment included a reserved parking space.
3. In the middle of Petah Tikva, Hafetz Hayim Street, a four-bedroom apartment sold in early October for NIS 2,415,000 ($682,589). feet). Construction was completed last year (2021) and houses 50 apartments.
4. Arad, towards the outskirts of town, a three-bedroom bungalow replaced hands with NIS 1,300,000 ($385,185) in September. The space at Mivtsa Lut covers 122 square meters (1,313 square feet) on a plot of 701 square meters (7,546 feet) and built in 1960. There is also committed parking.
5. In She’an, on Kiryat Rabin Street on the outskirts of the city, a four-bedroom apartment on the first floor of a four-story building was sold in the current part of September for NIS 1,100,000 ($312,551). The unit measures 147 meters (1,582 feet) and comes with a reserved parking space. Construction dates back to 2016.
6. Safed on Eliyahu Fromenchenko Street, a four-bedroom villa sold for NIS 2,600,000 ($772,889) in early September. Built in 1989, the assets measure 242 meters (2605 feet).
7. On HaGalil Street in Nazareth, a three-bedroom apartment on the first floor of a year-old building sold for NIS 1,570,000 ($466,706) in early September. The apartment measures 119 square meters (1281 square feet) with 39 apartments on the block in total. There is no reserved parking.
8. In Bannei Brak, lately Israel’s most populous city, a four-bedroom apartment was replaced in mid-September by NIS 3,900,000 ($1,102,941). The unit is on the seventh floor of a nine-story construction completed in 2021. It measures 135 square meters (1,453 square feet). Precise location is available.
9. In That area, a luxury city consisting mainly of personal housing, a three-bedroom apartment in an all-suite hotel was sold for NIS 2,900,000 ($848,946). It measures only 81 square meters (872 square feet) and is located on the first floor of a two-story development, with 31 apartments. The construction dates from the year 2000. This style allows to rent the apartment through the hotel when the owners do not wish to use it.
Rental costs seem to be emerging more slowly than genuine property sales, some spaces (looking at you, Tel Aviv) have noticed increases of 30-50%.
The number of families for whom renting is the only option (because they simply don’t have the capital for the down payment) is increasing. But with smart income, they can afford rents that would have seemed absurdly high just a few years ago. Here are some features for families renting across the country, drawn from Yad2’s online real estate marketplace.
In Tel Aviv’s old Jaffa neighborhood, a three-room apartment of one hundred square meters (1,076 square feet) can be purchased for NIS 11,000 ($3,126) per month.
Not far away, south of Tel Aviv, you can rent a luxury 3-bedroom duplex of 270 square meters (2906 square feet) on Yehuda Margoza Street. The charge is NIS 25,000 per month ($7103), but also access to concierge service, gym and pool.
In Gan, a three-and-a-half-room garden apartment must be rented at NIS 8888 per month ($2500) starting in November. The unit measures 256 square meters (2756 square feet). The apartment is located on Ben Saruk Street, in the central district of the city.
In Zichron Ya’akov’s Neve Sharet neighborhood, a five-bedroom villa must be rented for NIS 9500 per month ($2699). The land measures 318 square meters (3423 square feet) – the habitable domain is 160 square meters (1,722 square feet).
A three-bedroom apartment in Tiberias overlooking the Sea of Galilee on Moran Street sells for NIS 6500 consistent with the month ($1847). It measures 120 square meters (1292 square feet) and is located on the first floor of a recently completed building. building. It is delivered with parking.
In Jerusalem, a three-bedroom apartment was recently presented for NIS 7800 per month ($2216) in the community of Mekor Haim in the southwestern part of the city. It sits on the current 4-square-foot site and measures 110 square meters (1,184 square feet). One of the balconies is closed and can be used as a room.
Do you depend on The Times of Israel for accurate and insightful facts about Israel and the Jewish world?If so, sign up for The Times of Israel community. For as little as $6 a month, you:
That’s why we introduced The Times of Israel ten years ago: to provide discerning readers like you with the must-have politics of Israel and the Jewish world.
So now we have a request. Unlike other media outlets, we have not set up a paywall. But because the journalism we do is expensive, we invite readers for whom The Times of Israel has become vital to help our paintings join the Times of Israel community.
For just $6 a month, you can help our quality journalism while enjoying The Times of Israel WITHOUT ADVERTISING, as well as access exclusive content only for members of The Times of Israel community.
Thank you, David Horovitz, founding editor of The Times of Israel.