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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, including a look at some rentals in Tel Aviv and Jerusalem

A view of Tiberias and the Sea of Galilee., 2019. (Thomas Leirikh via iStock by Getty Images)
A view of Tiberias and the Sea of Galilee., 2019. (Thomas Leirikh 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 added a quick look at rental apartments currently on the market in this week’s edition.

The information on apartment and home sales in this article was gathered through the Israel Tax Authority’s real estate research database, which shows the final prices paid for properties.

The latest figures for the housing market show that housing prices rose over the year to July by 17.8%, compared to July 2021, but it seems as if fewer homes are changing hands. The highest price rises have been seen across the towns and cities in the central region of the country.

Sales

1. In Jaffa on Hinanit Street, a three-room apartment sold for NIS 1.85 million ($552,238) in late July. It was built in 1960, on the first of four stories, and covers 73 square meters (786 square feet) in a building of 16 apartments.

2. On Ha’irisim Street in the center of Yokne’am Illit close to Gandhi Park, a house with five rooms sold for NIS 2 million ($603,431) in mid-July. Built in 1970, the living area covers 122 square meters (1,313 square feet), and a further 380 square meters (4,090 square feet) of space are registered to the property.

3. In Kiryat Ono, an apartment in a newly built tower that has yet to get an official address was sold in mid-August for NIS 3,239,000 ($985,397). The space measures 102 square meters (1,098 square feet) with four rooms and is on the third of 31 floors with a total of 115 apartments in the building.

4. On Hashoftim Street in Tiberias, a six-room apartment on the fifth floor of seven sold in the middle of August for NIS 2,350,000 ($721,080). It measures 290 square meters (3,122 square feet) and was completed this year.

5. In Caesarea, very little property has changed hands over the last couple of months. But in mid-August, a two-and-a-half-room apartment measuring 69 square meters (743 square feet) was sold within the city for NIS 1.5 million ($460,687). It was built in 1995 and is located on the second floor of a two-story building.

6. On Ha’ela street in Even Yehuda, close to the junction with Route 4, a garden apartment within a four-story building sold in the first half of July for NIS 4.8 million ($1,448,235). It was completed this year and measures 126 square meters (1,356 square feet) with a yard of an additional 104 square meters (1,119 square feet).

7. In Rehovot on Yechiel Michal Pines street, close to the Rehovot shopping mall in the Neve Alon neighborhood, a four-room apartment sold in the first half of August for NIS 2,330,000 ($707,991). It is on the second of three floors in a building of 11 apartments, and measures 134 square meters (1,442 square feet). The building dates from 1960.

8. On Kedoshei Kahir street in Holon close to the junction with the Ayalon Highway, a four-room apartment was sold at the end of July for NIS 1.88 million ($567,225). It has four rooms over a space that measures 77 square meters (829 square feet), on the first of eight floors in a building of 32 apartments. It also has a dedicated parking space.

9. In Beersheba on David Niv Street, in the city’s outskirts toward the old cemetery, a four-room apartment sold in early August for NIS 1,390,000 ($422,634). It is on the second floor of an 11-story building dating to 2000, and measures 122 square meters (1,313 square feet). There are 21 apartments in the building. The apartment comes with a reserved parking space.

10. On Rachel Immenu Street toward the edge of the city in Modiin, a garden apartment sold in early August for NIS 4,000,000 ($1,206,862). It was built in 2010 and has four rooms in 131 square meters (1,410 square feet) of living space, with a further 126 square meters (1,356 square feet) of yard. The apartment is on the first of three stories containing 10 apartments in total. It also includes two reserved parking spaces.

Rentals

One of the results of soaring house prices is that more people are renting and are looking to do so for longer. This week, we are also including some properties available to rent in Tel Aviv and in Jerusalem — cities with the biggest rental markets. We checked out prices on the rental forum Yad2, and tried to give an idea of the range of prices and facilities available for a single person or a couple.

In what’s described as “the heart of South Tel Aviv,” a studio apartment that measures 22 square meters (237 square feet) is available to rent for NIS 2,800 ($845) per month. The apartment is on Mikve Yisrael street in what is described as a renovated elevator with an elevator and free wifi.

Also in Tel Aviv, on Hayarkon Street, in the Opera Tower facing Gordon and Frishman beaches, a two-room apartment with a sea view on the seventh floor that measures 90 meters square (969 square feet) can be rented for NIS 13,500 ($4,073) per month. It comes with parking, a gym, and a seawater pool. The rent includes management fees and property tax (arnona).

In Katamonim in Jerusalem, a space measuring just eight square meters (86 square feet) on the third floor of a home/building can be rented for NIS 1,575 ($475). The space is on Jose San Martin street and is described as a private room that has been renovated to a high level. The space comes with access to two toilets, a shower, a washer and a dryer, and “quiet neighbors.”

For NIS 9,000 ($2,715) in central Jerusalem on Meir Shaham street (close to Mamilla Mall), tenants can rent a two-room apartment on the fifth floor of a nine-story building. The building is new and the apartment measures 72 square meters (775 square feet) and comes with a parking space. The “architect-designed” apartment comes fully furnished with an open balcony. The building has 24/7 security, a pool, a gym, a sauna and showers, as well as a room that can be rented for events.

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