On Payne Street in the Neve Sha’anan neighborhood in south Tel Aviv, a 54-room apartment, 54 sq.m., with two small balconies, a warehouse with an area of 3.5 sq.m., on the 1st floor out of 5, in a building with an elevator without parking, was sold for NIS 2.65 million.
“Neve Sha’anan is notorious as a difficult and neglected neighborhood,” says Yaron Rosenbaum, a real estate consultant at Remax Place in Tel Aviv. “TMA, and as a result a new population comes to live here, for example high-tech workers, young people who rent apartments in the area because of the increase in price in the city center, and also AIRBNB apartments.”
The apartment on Payne Street in the Neve Sha’anan neighborhood in south Tel Aviv / Photo: Itai Raz
Rosenbaum notes that the apartment has been on the market for about six months. According to him, in the last two and a half months, dozens have been interested in her.
At the beginning of the year, deals were closed in the area at prices of NIS 35,000-38,000 per square meter. The current deal expresses a price of more than NIS 45,000 per square meter, a price level that until recently we knew only in the most sought-after and expensive neighborhoods in the city – the heart of Tel Aviv and the old north. In a period of price tide, the market knows how to identify areas where there is potential for higher value added and gives this expression in transaction prices.
“Today, the average rent in the neighborhood is about NIS 5,000, a year ago the rent was NIS 4,000 at most.”
The sellers are investors who lived outside the city, and the buyers are investors who are residents of the city. They will be represented by Shimon Zarbiv, the owner of Lafayette – Property Marketing and Real Estate.
Kfar Yona: How much was a 5-room apartment in the new Sharona neighborhood sold for?
At 84 Ahvat Adam Street in the new Sharona neighborhood in Kfar Yona, a 5-room, 133-square-meter apartment with a 14-square-meter balcony and a 7-square-meter warehouse was sold, on the 5th of 8 floors in the building, with two covered parking lots (NIS 18,142 per square meter).
The apartment building in the new Sharona neighborhood in Kfar Yona / Photo: Avi Asraf Courtesy of eXp
“The building was built in 2017,” says Doron Dan, an eXp Israel broker who represented the sellers in the deal. “The neighborhood is relatively new, developing and growing. Serious entrepreneurs are building new projects in it, and it has parks, a school, nearby commerce and bus lines. In general, the neighborhood is accessible to exits and entrances but as in the whole country there are traffic jams.
“The apartment has been on the shelf for about three and a half months. The buyers are local residents who have upgraded from four to five rooms.”
Dan says that there has been demand in Kfar Yona for the past year, and he says “many interested people approached me: from Netanya, the surrounding moshavim and also from Tel Aviv – most are from the first circle, and many of them are young couples – and also from the Haifa area.” According to him, the population in the neighborhood is heterogeneous and young with many couples and young families as well as housing developers.
Dan adds that the marketing price of the property was initially NIS 2.63 million, but the deal was closed at NIS 2.54 million. “Prices in Kfar Yona have risen by about 12%. A five-room apartment was rented a year ago for around NIS 5,000 a month, but today the rent reaches NIS 5,800-6,000 and this is a jump that happened in just four months.”
The Sharona neighborhood is located in the east of the city and according to the Madeleine website, 123 apartments were sold there in the past year at an average price of NIS 15,300 per square meter.
Sold
Jerusalem
On San Martin Street in the new Katamon neighborhood3-room apartment, 67 sq.m., 12 sq.m. balcony, on the 5th of 7th floor, with elevator, no parking, At NIS 1.72 million. (Anglo Saxon)
Beer Sheva
In the Safed plaza in the T. neighborhood3-room apartment, 76 sqm, on the 1st floor of 8, with elevator, no parking, At NIS 770,000.
On Haviva Reik Street in Neighborhood C2-room apartment, 45 sqm, on the 2nd of 3 floors, without elevator and parking, At NIS 590,000. (Anglo Saxon)
On Operation Erez Street in the new V neighborhood5-room cottage, 170 sqm built, including parking, At NIS 1.52 million.
On Rabbi Shlomo Tene Street in the Neve Zeev neighborhoodMini penthouse, 5.5 rooms, 200 sq.m., 60 sq.m. balcony, 13th of 14th floor, including parking, At NIS 1.73 million.
On Uzi Narkis Street in the Ramot neighborhood4-room garden apartment, 120 sq.m., 120 sq.m. garden, on the ground floor out of 5, with parking, At NIS 1.68 million.
On Bezalel Street in Neighborhood B4-room apartment, 137 sq.m., on the 7th floor of 23, including parking, At NIS 1.38 million.
On Avraham Avinu Street in the Ramot neighborhood6-room duplex, 170 sq.m., on the 4th of 4 floors in a building with elevator, with parking, At NIS 1.85 million. (RE / MAX Plus)
intelligence
On Chrysanthemum Street in the Flower neighborhood3-room apartment, 85 sqm, with two balconies, on the 11th floor out of 19, with parking, At NIS 2.6 million. (RE / MAX MORE)
Holon
On Henkin Street2-room garden apartment, 65 sq.m., 18 sq.m. garden, ground floor out of 9, with parking, At NIS 2.03 million.
On Sprintzak Street3-room apartment, 70 sq.m., 3rd of 4 floors, in a building with elevator, At NIS 1.7 million.
On Histadrut Street4-room apartment, 91 sqm, on the 3rd floor of 6, in a building with an elevator, At NIS 1.93 million.
On Weizmann Street3.5 room apartment, 91 sqm, on the 1st floor of 4, At NIS 1.91 million. (RE / MAX Excellence)
Lod
On Commanders Street4-room apartment, 94 sqm, on the 3rd of 4 floors, without elevator and parking, At NIS 1.3 million.
On Freeman Street4-room duplex apartment, 100 sq.m. + 40 sq.m. balcony, on the 4th of 4 floors, without elevator, no parking, At NIS 1.17 million. (Anglo Saxon)