An apartment in the city of Yamim in Netanya became 50% more expensive within four years; “Prices will continue to rise”

by time news

The story of a building

On the last day of 2021, a second-hand 5-room apartment on the first floor of a tower on Natan Yonatan Street in the Ir Yamim neighborhood of Netanya was sold for NIS 4.09 million. According to Madlan, the area of ​​the apartment is 135 square meters, so the price reflects a value of NIS 30.26 thousand per square meter.

Exactly 4 years earlier, on 31/12/2017, the same apartment on the same floor and with the same area was sold by the entrepreneurial company YH Dimari for NIS 2.69 million, ie NIS 19.96 thousand per square meter. However, the seller recorded a profit of NIS 1.61 million within 4 years, and a handsome return of 52%.

The housing price index also jumped during this period, but by about 18%. Therefore, part of the increase in the value of the apartment can be attributed to the state of the housing market across the country, but it seems that buyers give Dimeri’s tower in particular, and the city in particular days added value for which they are willing to pay more.

The most notable advantage of the neighborhood is its location on the seafront – this specific tower is located a few hundred meters from the beach and the promenade from which the residents of the neighborhood enjoy. The shiny new towers are in demand and preferred by many over old apartments, the proximity to a large and well-known mall, and the public gardens (6 according to the Netanya Municipality website) also give the neighborhood an advantage. In addition, the fact that hairy days on the outskirts of Netanya on the descent to the coastal road are especially attractive to those who work in the Tel Aviv area.

Also compared to other neighborhoods in Netanya, a prestigious and sought-after city of days. In 2021, the average price per square meter was NIS 29.6 thousand, while in eastern Kiryat Hasharon in the Netanya neighborhoods the price was only NIS 22.3 thousand per square meter. In the center of Netanya, the price is about NIS 20,000 per square meter.

Tal Kopel, CEO of Madlan, said that “Ir Yamim is a clear example of what can be achieved outside Gush Dan at similar prices. For the price of a 5-room apartment in Givatayim, you can get a 5-room apartment in a building with a pool, gym, easy access to the beach and even “A nature reserve within walking distance. Those who purchased for the investment made a nice return, and with the completion of construction in the neighborhood in the coming years and its uniqueness, it is likely that prices there will continue to rise and widen the gap from the rest of the city.”

The project we examined with the help of Madlan includes three 17-14 storey buildings, and a total of 170 apartments. The Ir Yamim neighborhood was planned in the late 20th century, construction began in 2006. Dimeri received a building permit in July 2016, and within a few months began selling apartments. The construction of the project has recently been completed, and these are currently inhabiting the 3rd and final building.

As in the whole country, also in these towers during the year 2021 there is a sharp jump in prices. At the end of 2016 and the beginning of 2017, apartments were sold at a value of NIS 21,000 per square meter, towards the end of 2020 the price per square meter reached NIS 23,000 – an increase of 9.5% on average within 3 years. On the other hand, as stated at the end of 2021, the average price per square meter of weapons per NIS 30,000 is an increase of about 20% on average within two years.

The most expensive apartments in the towers that Dimeri built are those on the upper floors, and especially the large penthouse apartments. According to Madlan, the expensive apartment in the tower was sold in October 2021 for NIS 8,135 million, this is an apartment on the 17th floor that spans 219 square meters, so the price reflects a value of NIS 37.1 thousand per square meter. A slightly smaller apartment, with an area of ​​209 square meters, was sold in February 2022 according to a key of NIS 37.8 thousand per square meter, and in total its price was NIS 7.9 million. A huge apartment with an area of ​​222 square meters was sold in November 2019 at a value of NIS 28.6 thousand per square meter, and in total its price was NIS 6.3 million. So the luxury apartments in the project became 32% more expensive within two years.

A typical 5-room apartment (only 135 square meters) on the 14th floor was sold by Dimeri in March this year for NIS 4.58 million at a value of NIS 33.9 thousand per square meter. Exactly one year earlier, the company sold an apartment of the same size and floor at a value of NIS 24.59 thousand per square meter – the price of the apartment in February 2021 was NIS 3.32 million. An increase in value of almost 38% or NIS 1.26 million within a year.

You may also like

Leave a Comment