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Housing snapshot: Home sales and rentals across Israel

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

Illustrarive. A view of the Givat Olga neighborhood in Hadera, on June 22, 2022. (Nati Shohat/Flash90)
Illustrarive. A view of the Givat Olga neighborhood in Hadera, on June 22, 2022. (Nati Shohat/Flash90)

This week’s round-up looks at smaller two-bedroom (three-room) homes that have changed hands — suitable for a young couple starting out or for an older couple looking to downsize. It provides an indication of the costs required just to get a foot on the housing ladder across the country.

The Times of Israel uses the national property tax database to highlight the actual prices people are paying.

1. In Tel Aviv on central Betzalel Street, around the corner from Rabin Square, an apartment with one and a half bedrooms changed hands in early October for NIS 4 million ($1,132,317). Built in 1950, it measures 81 square meters (872 square feet), on the first of four floors in a building containing 13 apartments. There is no dedicated parking.

2ָ. In Haifa on Aba Hillel Silver Street, in the center of the city close to the main shopping center and the Technion,  a two-bedroom apartment sold for NIS 1 million ($282,645) in October. It measures 67 square meters (721 square feet) and was built in 1970. The apartment is on the 14th floor of 19, with 108 apartments in the building, and no reserved parking.

3. In Kiryat Ata, a first-floor, two-bedroom apartment on Yoseftal Boulevard was sold for NIS 670,000 ($191,373) in late October. The apartment covers 75 square meters (807 square feet), in a building with four stories built in 1970.

4. In Ashdod on Mevo Hasharvitan Street a two-bedroom penthouse apartment covering 79 square meters (850 square feet) changed hands for NIS 1,550,000 ($442,730) in late October. The building dates from 1980, and the apartment is on the top floor of six.

5. On Hagefen Street in the northeast of Kfar Saba a two-bedroom apartment measuring 66 square meters (710 square feet) sold for NIS 2,240,000 ($634,097) in mid-October. The apartment is on the first floor of a building of seven stories built in 1986. There is no reserved parking.

6. In Hadera on Hanaharonit Street, on the edge of town, a two-bedroom apartment on the second floor of three sold in mid-October for NIS 1,400,000 ($393,311). Built across 76 square meters (818 square feet) of living space, the apartment is on the second of three stories, with six apartments total in a building completed in 1990.

7ָ. A two-bedroom apartment in central Ma’ale Adumim in the West Bank on Hanehalim Street changed hands in late September for NIS 1,695,000 ($476,525). Built in 1990, it measures 78 square meters (840 square meters) and is on the second of three floors with just four apartments in the building. There is no dedicated parking.

8. On Sheshet Hayamim Street in Ariel, also in the West Bank, facing a large central green area, a two-bedroom penthouse apartment covering 89 square meters (958 square feet) sold in early October for NIS 1,330,000 ($373,595). Built in 1992, the apartment on the third of three stories in a building of six apartments in total.

9. In the southern town of Yeruham in mid-September, a two-bedroom apartment on Harambam Street close to the Desert Iris Hotel changed hands for NIS 515,000 ($145,786). It is in a building dating from 1950, on the second of four floors, covering 83 square meters (893 square feet). There are 16 apartments in the building, but no dedicated parking.

10. On Shkoret Street in the southern, coastal city of Eilat, a two-bedroom apartment sold in late September for NIS 1,095,000 ($309,972). It covers 76 square meters (818 square feet), in a building completed in 1970. The apartment is on the first of three stories. There is no reserved parking.

Rentals

Rental prices have been steadily increasing across Israel, as leases end and apartments come onto the market. The official numbers give annual rises of around 8% – but those looking for apartments say prices are up by much more. Continuing to look at smaller apartments, here are some options currently available advertised now in the online property marketplace Yad2.

In Tel Aviv on Nissim Aloni Street — some way from the center of town and the beach — a 1.5-bedroom apartment is on the rental market for NIS 13,000 ($3,680) It’s spacious, at 123 square meters (1,324 square feet), with a “designer” kitchen, two designer bathrooms, and a north-facing balcony. The apartment is on the 6th floor of a 38-story building. There are two parking spaces, and the building has a gym and a pool for residents. Local property tax (arnona) is another NIS 1,700 a month ($481).

If one bedroom will do, in Jerusalem’s Ramot neighborhood, on Nerot Shabbat street, there is a 24 square-meter (258 square feet) apartment available to rent for just NIS 2,400 ($679). It’s described as having a kosher kitchen, comes fully furnished and is said to be in good condition.

In Bat Yam, on Jabotinsky Street, a two-bedroom apartment measuring 85 square meters (915 square feet) is available for NIS 5,500 a month ($1,557). It is a couple of minutes’ walk from the beach, on the sixth of eight floors, with a sea view and a reserved parking space.

On Haim Nachman Bialik Street in the center of Beersheba, a two-bedroom apartment in an older, low-rise building is listed for NIS 2,800 a month ($793). It measures 78 square meters (840 square feet) and sits on the third floor. The apartment is described as having been renovated. It includes a parking space.

A two-bedroom apartment on Pinsker Street in central Haifa is available for NIS 3,800 a month ($1,076) in the Century 21 Diamond building. It is on the first floor of the building, measuring 120 square meters (1,292 square feet), and is described as being in good condition. There is no reserved parking.

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