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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

A panoramic view of the port of Haifa and the surrounding neighborhoods. Illustrative. (Kateryna Mashkevych via iStock by Getty Images)
A panoramic view of the port of Haifa and the surrounding neighborhoods. Illustrative. (Kateryna Mashkevych via iStock by Getty Images)

For Israeli homeowners not looking to move any time soon, the spiraling costs of housing — 19.8% over the past year, compared to 4.9% for the overall consumer price index — are a reason to stay put longer. But for those hoping to get on the homeownership ladder, the numbers are frightening.

This week’s feature will highlight a selection of homes that changed hands on the very high end of the pricing spectrum and those on the lower end, to offer a varied housing snapshot in locations across Israel.

By using the national property tax database, we look at the prices that people have really paid (although property taxes can take a few months to come through the system).

1. In Tel Aviv, on Miriam HaHashmonait street in the heart of the city’s Old North, an apartment due for completion next year was sold in early October for NIS 8,960,000 ($2,621,148). The apartment, within walking distance of both the beach and Yarkon Park, covers 111 square meters (1,195 square feet) and offers three bedrooms (four rooms) on the sixth of eight floors. There is no dedicated parking.

2. On the other side of town, on Hara’aba Street in south Tel Aviv, about a block away from the central bus station, an apartment in a 1940s building sold for NIS 1,600,000 ($468,062) in early November. The apartment measures 37 square meters (398 square feet) with 1.5 rooms in total (a semi-studio setup) on the second of three floors.

3. In Haifa, in early October, a two-bedroom apartment (three rooms) on Arlozorov Street sold for NIS 755,000 ($213,216). Right near the Israel National Museum of Science, Technology, and Space (also known as MadaTech), it measures 72 square meters (775 square feet) in a building that dates from 1930. The apartment is located on the top floor of four.

4. Also in central Haifa, on Hayarkon street, a four-bedroom (five-room) apartment sold in recent weeks for NIS 4,317,550 ($1,263,051). It measures 135 square meters (1,435 square feet) on the fourth floor of seven, in a building that has just been completed.

5. On Kedoshei Hashoah s\Street in Afula Illit, a six-bedroom (seven-room) villa covering 400 square meters (4,306 square feet) sold for NIS 2,950,000 ($826,909) in late October. The villa was built in 1990.

6. Also in Afula, a two-bedroom (three-room) apartment on the other side of town on Connecticut Boulevard sold for NIS 535,000 ($150,122) in early November. The apartment building dates from 1980 and the apartment offers 70 square meters (753 square feet) of space on the second of three floors in a block of 32 apartments.

7. In central Dimona a one-bedroom (two-room) apartment on Ben Gurion Road sold in late October for NIS 345,000 ($100,926). The apartment measures 38 square meters (409 square feet) on the third of three floors. The apartment building dates from 1970 and houses 12 apartments in total.

8. Close by on Dugit street also in central Dimona in late November, an apartment in a 2005 building sold for NIS 1,450,000 ($424,181). The apartment has four bedrooms (five rooms) on the first floor of a two-story building with just two apartments. The unit measures 140 square meters (1,507 square feet).

9. In Ashkelon on Yefe Nof Street, close to the marina, an apartment completed last year sold for NIS 3,280,000 ($959,527) at the beginning of November. The apartment covers 173 square meters (1,862 square feet)  and includes three bedrooms (four rooms total). It is on the 14th of 18 floors, with 184 apartments in the building.

10. On the southern edge of Ashkelon, a one-bedroom (two-room) apartment on Shapira Street sold for NIS 850,000 ($248,658) in early November. The apartment building dates from 1970, and the unit includes just 46 square meters (495 square feet) of living space on the first of three floors.

11. In Rehovot, on Josephson Street, a four-bedroom (five-room) apartment changed hands for NIS 3,750,000 ($1,097,020) in mid-November. The apartment was built in 2010 and includes 136 square meters of living space (1,464 square feet). It is on the second of nine floors, with 33 apartments in the building, and two reserved parking spaces come with the sale.

12. Also in mid-November, on Hakibutzim Boulevard in Rehovot, a one-bedroom (two-room) apartment sold for NIS 390,822 ($114,331). The apartment building dates from 1970, and the apartment covers just 48 square meters (517 square feet) on the fourth of four floors in the building.

13. On Henrietta Szold Street in central Ra’anana, an apartment due for completion next year sold for NIS 7,400,000 ($2,113,682) in late October. The apartment will have four bedrooms (five rooms) with a total living area of 228 square meters (2,454 square feet) on the first of four floors.

14. Staying in central Ra’anana, on Eli Cohen Street, an apartment completed in 2015 sold at the end of October for NIS 2,400,000 ($702,093). The apartment consists of three bedrooms (four rooms) on the fourth of six floors and measures 97 square meters (1,044 square feet).

15. In Hadera on Moshe Dayan Street, an apartment in a building dating from 1993 sold in early November for NIS 566,280 ($165,659). The apartment consists of two and a half bedrooms (three and a half rooms) and covers 89 square meters (958 square feet) on the ninth floor of 10.

16. Also in Hadera, a five-bedroom (six-room) apartment due for completion next year sold for NIS 4,425,826 ($1,293,722) in the first half of November. The apartment is on Hagdud Ha’vri Street and measures 178 square meters (1,916 square feet). It is the penthouse apartment in a mega-building that will stand 32 stories high, with 159 apartments in total.

An apartment building in Rehovot. Illustrative. (Vicu9 via iStock by Getty Images)

Rentals

Rental prices are also rising around the country, although at a slower rate than purchases. We looked at what’s available at the top and the bottom of the market, in some of the same cities we covered in the previous section. Prices are sourced from the leading online housing marketplace Yad2.

In Tel Aviv, the hottest property hotspot in Israel, the cheapest apartment advertised in Yad2 listings during the last week of November costs NIS 5,200 a month ($1,521). It is in east Tel Aviv, some distance from public transport and other amenities, on Tsora Street, and it contains two bedrooms (three rooms) measuring 55 square meters (592 square feet).

Over on Degania Street in Tel Aviv, a penthouse apartment is available to rent for NIS 13,800 ($4,037) a month. It has 2.5 bedrooms (3.5 rooms), two large balconies, and 120 square meters (1,292 square feet) of living space. It does not include parking.

In Haifa, a two-bedroom (three-room) apartment measuring 60 square meters (646 square feet) is available on Zalman Shneor Street for NIS 2,500 a month ($731).

On the more luxurious side, in Haifa, a brand new apartment with three bedrooms (four rooms) is available for NIS 8,200 a month ($2,399) on Neot Peres street close to the stadium. The apartment includes two balconies, panoramic views, 135 square meters (1,453 square feet) of space, wood parquet flooring throughout, and two parking spaces.

In Afula, a three-bedroom apartment can be rented for just NIS 1,700 ($497) per month on Connecticut Boulevard in the Neve Yosef neighborhood. The apartment has 70 square meters (753 square feet) of space, on the third floor of four.

At the top end of the market, NIS 4,000 ($1,170) will get you an apartment in the center of town, on Oranim street in Afula. The apartment offers three bedrooms (four rooms) on the second floor, with 128 square meters (1,378 square feet) of space, two kitchens, a large balcony, and a reserved parking space.

In Rehovot on Hanasi Harishon Street, close to the Weizmann Institute of Science, a penthouse apartment is available to rent for NIS 10,800 ($3,159) a month. It is newly built and has three bedrooms (four rooms) covering 175 square meters (1,844 square feet) of space. It also has a large balcony and two parking spaces.

For a more budget-friendly rental in Rehovot, an apartment on Hakibutzim Boulevard is available for NIS 3,000 ($878). It has one bedroom (two rooms) and measures 54 square meters (581 square feet).

In Dimona, NIS 1,900 ($556) will secure a renovated, two-bedroom (three-room) apartment on Ezra U’nechemia Street covering 60 square meters (646 square feet).

In the medium price range, NIS 4,700 ($1,376) in Dimona will get you a brand new garden apartment with three bedrooms (four rooms) measuring 207 square meters (2228 square feet), with 95 square meters (1023 square feet) of private outdoor space on Rabbi Nachman Meuman Street.

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