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Housing snapshot: Home sales and rentals across Israel

The Times of Israel’s regular feature on what is going on in Israel’s property market right now

An aerial view of Yeruham in the southern Negev desert on February 1, 2022. (Menahem Kahana/AFP)
An aerial view of Yeruham in the southern Negev desert on February 1, 2022. (Menahem Kahana/AFP)

With the average price of apartments now close to NIS 2 million (about $585,000) — or NIS 3 million ($877,000) if you are shopping in Tel Aviv — it is becoming increasingly challenging to get that first foot on the housing ladder. Although it seems that the number of properties changing hands is falling, prices themselves are not yet trending down.

Buyers may be purchasing less with more, but by taking a step away from the cities that are most in demand, a small budget may still stretch to at least a one-bedroom place. It will likely be older, and smaller, but it can be a place to call home.

This week’s housing round-up takes a look at such options, sourcing sale prices that have been registered in recent weeks with Israel’s property tax database.

1. On the edge of Rehovot, on Gush Etzion Street, a single-bedroom (two-room) apartment sold in early December for NIS 1,100,000 ($317,200). Built in 1970, the apartment measured 49 square meters (527 square feet) and was on the second of two floors in the building.

2. In Holon, close to the Ayalon Highway on HaAmoraim Street, a 40 square meter (431 square feet), one-bedroom apartment on the first of four floors in a building built in 1950 changed hands for NIS 1,150,000 ($327,400) in late December.

3. Close to one of the city’s shopping malls, and also the national park, a one-bedroom apartment in Ashkelon on HaHistadrut Street sold in late December for NIS 700,000 ($198,400). Built in 1970, the apartment was on the first floor and measures just 22 square meters (237 square feet).

4. In the Kiryat Bialystock neighborhood of Yehud, a one-bedroom apartment on Ben Zvi Street measuring 55 square meters (592 square feet) sold for NIS 771,493 ($221,900) in late December. It was built in 1970 and is located on the first of four floors.

5. In Yeruham in mid-December, a two-bedroom (three-room) apartment sold for NIS 760,000 ($220,200). The apartment is on HaHagana Street and covers 81 square meters (872 square feet) of space. It was built in 2013 and is located on the second of four floors, with a reserved parking space.

6. On Dov Gruner Street close to the shoreline in Acre, a single-bedroom apartment changed hands in early November for NIS 695,000 ($203,100). It measures 36 square meters (388 square feet) and is located on the second of three floors in a building that dates to 1960.

7. In Katzrin, a two-bedroom (three-room) apartment sold for NIS 725,000 ($216,300) in mid-December. The apartment is in a building constructed in 1970, on Dalyot Street in the center of town, and measures 85 square meters (915 square feet).

Rentals

Renting outside the main centers of commercial activity and employment may add time and cost to the daily commute, but it can also save money on housing. Here’s a selection of smaller apartments outside central Israel that are currently available on the Yad2 online platform.

A single-room studio on Sheshet Hayamim Street in the center of Rishon Lezion is available for NIS 2,800 ($810) per month. The apartment measures a relatively spacious 40 square meters (431 square feet) and is located at basement level.

In Ashdod, a single-room studio apartment measuring 25 square meters (269 square feet) located on the ground floor close to the shore on Rova 15 Street is also available for NIS 2,800 ($810) a month.

On Shir HaShirim Street in Modiin, a studio apartment is being marketed at NIS 2,450 ($710) a month. It is on the second floor and measures just 19 square meters (205 square feet).

In Tel Mond, a one-bedroom (two-bedroom) apartment is available for rent on Hayarden Street for NIS 2,700 ($780) a month, including all bills except for electricity. It measures 100 square meters (1,076 square feet).

On Leah Goldberg Street in Lod, not far from the city’s new rail station, a one-bedroom (two-room) apartment can be rented for NIS 2,100 ($610). The apartment is on the third floor, offering 30 square meters (323 square feet) of space.

In Bnei Brak on Sokolov Street, there is a single-bedroom, ground-floor apartment for NIS 1,500 ($430). The apartment measures 50 square meters (538 square feet).

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