On Gedalyahu Street in Neve Sha’anan, a 2-room apartment, 38 sq.m., on the second floor out of four in a train building, without a balcony and without parking, was sold for NIS 850,000.
“The neighborhood is located about a 10-minute walk from the Technion. The street is in the heart of the Neve Sha’anan neighborhood and in recent years has been characterized by investor interest due to high demand among students,” says Eran Lieberman, franchisee and owner of RE / MAX VIP Haifa. “Future plans for TMA on the street are also attracting a lot of interest and causing prices to rise.”
“Today, there are two types of buildings on the street: old four-story train housing without an elevator, with apartments in an area of about 40 square meters, and buildings sitting on a ridge, because of the mountainous topography of the city.”
Lieberman adds that the 40-square-meter apartments in the apartment buildings were sold about NIS 700,000-750,000 a year ago, but today their price has jumped to NIS 800-850,000, which is an increase of 13% -14%. “R were sold a year ago for a little over NIS 800,000 and today their price has already crossed the million mark and they are sold for around NIS 1.1 million.”
The apartment on Gedaliah Street in Neve Sha’anan, Haifa / Photo: Philip Morozov, courtesy of RE / MAX VIP Haifa
How long was the apartment on the shelf?
“The apartment was on the shelf for two months. About 30 customers came to see it, and six or seven of them submitted bids,” says Lieberman. “We started marketing at NIS 940,000 and this is a price that was high in advance and at the end of the deal closed at NIS 850,000.”
According to him, the seller is a resident of the center who bought the apartment many years ago and decided to sell in order to move to another property in the center, and the buyers are young investors in their 30s.
What are the rental prices in the area?
Lieberman notes that most of the residents on the street are renting students, and the monthly rent for a 3-room apartment is NIS 2,700-2,800. “The apartment sold is rented at a monthly rent of NIS 2,200” (annual yield of 3.1%).
An inspection by the Tax Authority shows that 20 apartments have been sold on Gedaliah Street in the past year. A 65 sq.m. apartment with 3 rooms, on the 4th floor out of 7, was sold in June 2021 for NIS 1 million, reflecting NIS 15,384 per sq.m., and in April a similar apartment was sold, with 3 rooms in an area of 70 sq.m. , Reflecting NIS 16,428 per square meter. That is, within 10 months there was a 15% increase.
Yavne: An 8-room private house, on a plot of 650 square meters, sold for NIS 6.1 million
On Pa’amonit Street in the Neve Ilan neighborhood of Yavne, an 8-room private house, 285 sq.m. on a 652 sq.m. plot, was sold for NIS 6.1 million, ie NIS 21,403 per sq.m. for a garden, two parking spaces and a shelter.
The Neve Ilan neighborhood is located in the northwest of the city of Yavne and Hapamonit Street is located at the northern end of the neighborhood with quick access to Highway 4 and the city’s industrial area. The street is one kilometer from Yavne West train station west.
“This is a neighborhood of villas that was founded 35 years ago by mostly military and police personnel,” says Michal Cohen, CEO of the MRN Real Estate, Entrepreneurship and Investment Group from EXP Israel. “Today it has about 2,500 households. The population that lives there is from a very high socio-economic background, and there is a movement of young people who have been buying there recently.”
Cohen adds that “there are two elementary schools in the neighborhood: Maayan and Ramot Weizmann, as well as public areas, tennis courts and gardens, and in the area is the city’s Scout tribe. About 10 minutes walk is Center G where there is commerce and offices.”
The house itself, says Cohen, sits on a large area and has recently been renovated, as part of which all the infrastructure has been replaced. “There are not many such deals,” she emphasizes, “demand is high and supply is very low.”
The house on Pa’amonit Street in the Neve Ilan neighborhood of Yavne / Photo: Eyal Gutman
How long was the house on the shelf?
“The property has been on the market for less than a month, during which seven potential buyers saw it, six of whom came to inspect it that day,” says Cohen, adding that it is one of the most expensive deals recorded in the city. An inspection by the Tax Authority shows that in December 2021, the last deal sold at a record price in Yavne was reported. This is a single-family cottage located on Galit Street, with two floors, six rooms, in an area of 171 square meters – a building from 1980 that sold for NIS 5.05 million (NIS 29,532 per square meter).
“The sellers are an elderly couple in their 70s who moved to the north. The buyers are young – a family with three children who moved to the city two years ago,” she said.
How much is a similar property rented?
“Most of the residents are permanent residents and there are few tenants. The rent for a property of this size is about NIS 10,000 per month.”
According to the Madeleine website, nine homes were sold in the Neve Ilan neighborhood last year at an average price of NIS 14,800 per square meter. The average rent in the neighborhood is NIS 5,600, reflecting an annual return of 1.66%. Cohen represented both parties in the deal.
Sold
Jerusalem
On Eliezer Kashani Street in the Armon Hanatziv neighborhood4-room apartment, 91 sqm, on the 4th floor of 4, At NIS 1.64 million.
On Mordechai Alkahi Street in the Armon Hanatziv neighborhood4-room apartment, on the 1st floor of 4, At NIS 2.69 million.
On Dov Gruner Street in the Armon Hanatziv neighborhood2.5 room apartment, 38 sqm, on the ground floor out of 5, At NIS 1.44 million. (RE / MAX VISION)
Haifa
On Second Aliya Street, in the old Romema neighborhood3-room apartment, 42 sqm, on the 4th floor of 4, At NIS 1.18 million.
On Allenby Street in the Kiryat Eliezer neighborhood4-room apartment, 76 sqm, on the 4th floor of 4, At NIS 870,000.
On Max Bodenheimer Street3-room apartment, 48 sqm, on the 1st floor of 4, At NIS 745,000. (RE / MAX City)
Beer Sheva
On Eliyahu Hanavi Street in the D neighborhood3-room apartment, 50 sqm, on the 5th floor of 12, At NIS 370,000.
On Wingate Street in Neighborhood C3-room apartment, 72 sqm, 3rd floor out of 3, At NIS 748,000.
On Golomb Street in Neighborhood C5-room apartment, 150 sq.m., balcony 20 sq.m., 2nd of 3 floors, including parking, At NIS 1.23 million.
On Michael Hazani Street in the 11th neighborhood4-room apartment, 100 sqm, 2nd floor out of 4, At NIS 760,000. (RE / MAX Plus)
Streets
On Neve Alon Street3.5 room apartment, 84 sqm, sun terrace about 7 sqm, on the 4th floor of 9, without parking, At NIS 1.85 million.
On Batya Makov Street3-room apartment, 67 sq.m., on the 3rd of 4 floors, without parking, without elevator, At NIS 1.42 million.
On Prof. Daniel Kahneman Street5 room apartment, 123 sqm + sun terrace about 12 sqm, on the 5th floor out of 10, with parking and storage, At NIS 3.1 million.
On Herzl Street4-room apartment, 85 sqm, on the 8th of 8th floor, with parking, At NIS 1.48 million. (Anglo Saxon)
Acre
On Independence Street4-room apartment, 130 sq.m., on the 3rd of 6 floors in a building with elevator, with parking, At NIS 1.12 million.
On Avraham Danino Street5-room apartment, 122 sqm, on the 4th of 4 floors, with elevator and parking, At NIS 1.35 million. (RE / MAX Pioneers)