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Housing snapshot: Apartment sales and rentals across Israel

Our regular behind-the-scenes feature on what is going on in Israel’s housing market right now

A view of Jerusalem. (Liran Sokolovski Finzi via iStock by Getty Images)
A view of Jerusalem. (Liran Sokolovski Finzi via iStock by Getty Images)

Here’s our regular roundup of homes bought and sold over the last month to keep you in touch with the realities of Israel’s housing market. We’ve also included a quick overview of rental apartments currently on the market.

The information on sales was gathered through the Israel Tax Authority’s real estate research database, which shows the final prices paid for properties. The rentals are from the platform Yad2.

The latest figures for the housing market show that prices rose by 17.9% in July 2022, compared to July 2021, with the largest increases across towns and cities in the central region. Meanwhile, new home sales have dropped.

1. In Jerusalem on Mekor Chaim Street, next to the Hadar shopping center, a first-floor four-room apartment sold in mid-August for NIS 3.8 million ($1,166,002). Built in 1996, it measures 72 square meters (775 square feet) and comes with one reserved parking space. It does not appear to include any outside space.

2. On Yehuda Street in central Arad,  a four-room apartment sold for NIS 1,365,000 ($420,906) in late August. It measures 142 square meters (1,528 square feet) and is on the fifth of 10 floors. Built in 2016, it is one of 42 apartments in the building and includes a reserved parking space.

3. In late August on Hanetsach Street on the outskirts of Ramat Hasharon in central Israel, a five-room apartment measuring 132 square meters (1,421 square feet) sold for NIS 4,843,200 ($1,435,022). Set for completion next year, the apartment is on the second of seven floors, one of 28 apartments in the building.

4. In central Haifa, a four-room apartment sold on Derekh Tsarfat for NIS 1,120,000 ($327,868) in early September. It dates from 1960 and measures 60 square meters (645 square feet). It is on the first of four floors with 24 apartments in the building in total.

5. During the first week of September, on the outskirts of Ma’ale Adumim on Hametsadim Street, a five-room apartment sold for NIS 2,900,000 ($846,715). It consists of five rooms, on the fourth floor of a 16-story building, and measures 125 square meters (1,345 square feet). The apartment was built last year and is one of 62 apartments in the building.

6. On HaDekel Street in Ashdod, within walking distance of the beach, a five-room apartment sold in the second half of August for NIS 4,176,000 ($1,222,840). It measures 206 square meters (2,217 square feet). The apartment was built in 2018 and is on the 25th of 29 floors, one of 162 apartments in the building. There is no reserved parking space.

7. In Ramat Beit Shemesh in area Daled, a four-room apartment sold for NIS 1,107,910 ($323,477). It was built in 2021 and measures 110 square meters (1,184 square feet). It is on the second floor of eight, with 20 apartments in the building and no reserved parking.

8. In Pardes Hanna on Ha-Meyasdim Street a four-room apartment sold for NIS 2,390,000 ($710,463) at the end of August. It is on the fourth of five floors and measures 132 square meters (1,421 square feet). The apartment dates from 2018, and is one of nine apartments in the building. It came with a dedicated parking space.

9. On the iconic Ahad Ha’Am street in downtown Tel Aviv, a three-room apartment sold at the end of August for NIS 7,400,000 ($2,161,186). It is on the first of four floors, containing eight apartments in total, and it measures 95 square meters (1,023 square feet). The apartment was built in 1950 and has no dedicated parking.

10. In central Ra’anana on Maccabi Street, a five-room apartment sold in late August for NIS 3,350,000 ($978,375). It measures 170 square meters (1,830 square feet) and is situated on the first of six floors with 22 apartments in the building. Parking is included.

Rentals

This week, we are also including a selection of rental apartments available in Tel Aviv, Haifa, and Jerusalem.

In Tel Aviv, on  Eigar Street a little north of the old bus station in what is described as a “developing area,” a one-room apartment on the second floor is priced at NIS 2,800 ($818) per month. The room measures 35 square meters (377 square feet). The owner is prepared to allow pets.

At the other end of the spectrum, on Sderot Ben Gurion, on the corner of Dizengoff Street, a two-room apartment measuring 70 square meters (753 square feet) is available for NIS 13,000 a month ($3,797). The apartment also has two balconies. It is being rented by the contractor.

In Haifa, on HaShomer Street about 200 meters from Talpiot Market, a two-and-a-half room ground floor apartment is listed for NIS 1,780 ($520) a month. The apartment measures 55 square meters (592 square feet), has two balconies, one parking space and a sea view. Tenants will also need to pay NIS 290 a month for property tax and utility bills.

For NIS 3,200 ($935) on Kabirim Street in Haifa, there’s a two-room apartment available on the second floor of a building with a “partial sea view.” The unit measures 70 square meters (753 square feet) and has a covered balcony.

In Jerusalem, although demand is high, prices for rentals tend to be lower than in Tel Aviv.

A studio apartment in Jerusalem’s Ramot area on Mish’ol HaDekalim, with an overview of a major road junction, is listed for NIS 2,500 ($730). The apartment is on the first floor and measures a total of 18 square meters (194 square feet). It has one balcony and is part of a building that has been subdivided to create individual apartments for short- and long-term renting.

In Jerusalem’s city center, NIS 9,000 ($2,628) a month can net a two-room apartment on the fifth floor of a building on Meir Shaham Street. The apartment measures 72 square meters (775 square feet) and has a balcony and a reserved parking space. The apartment was styled by an interior designer and is fully furnished. The building has 24/7 security, a pool, gym, and sauna.

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