Title: Rehovot Apartment Sold for 2.4 Million Shekels, Reflecting Stable Real Estate Market
Subtitle: Second-hand apartments in various cities also find buyers
Rehovot, Israel – In a recent real estate transaction in the south of Rehovot, a 4-room apartment measuring 106 square meters, along with a spacious 13-square-meter balcony, was sold for a total of 2.4 million shekels. The property, located on Zachariah Katucha Street, benefits from a relatively new building equipped with an elevator and a lavish lobby, and offers amenities such as central heating, parking, and storage facilities.
Avi Pinchas, an Anglo-Saxon agent specializing in the Rehovot area, expressed his satisfaction with the deal, stating that the apartment itself is relatively basic but boasts an advantageous southeast-facing location. The balcony overlooks the scenic fields of the Schiller group, offering an unobstructed view with no construction planned in the vicinity. The buyer, who previously sold a private house in the Sharon area, already had a connection with Pinchas as he had successfully facilitated a previous property transaction for her family.
Pinchas emphasized that the price paid for the apartment, which was initially listed at 2.6 million shekels, reflects the current trend of stabilization and a slight decrease in real estate prices. Furthermore, the seller’s motivation to complete the transaction quickly, along with favorable payment terms, contributed to a smooth and timely closing process. Within just 60 days, the seller vacated the apartment, allowing the new buyer to move in promptly.
Regarding rental prices, Pinchas mentioned that an apartment of this nature typically commands a monthly rental fee between 5,700 and 6,000 shekels. He also highlighted the varying strength in different areas of Rehovot, pointing out that the northern regions, due to the presence of prestigious institutions like the Weizmann Institute and the Faculty of Agriculture, generally have higher property prices. However, the south of the city, particularly the neighborhoods near Kaplan Hospital, has been experiencing growth in recent years, largely due to a planned metro system and urban renewal initiatives.
In addition to the Rehovot transaction, several second-hand apartments were recently sold in various cities across Israel. On Turquoise Street, a 4-room garden apartment with a sizeable 90-square-meter garden was sold for 1.78 million shekels. Meanwhile, a 4-room apartment on Savion Street was acquired for 1.4 million shekels and a 5-room apartment on Gefen Street changed hands for approximately 1.75 million shekels. Tax Authority records also indicate sales in Nahariya, Bat Yam, Kiryat Malachi, and Ashdod.
The stable real estate market in Rehovot, as demonstrated by the recent transaction, suggests confidence and demand among buyers. With ongoing development plans and strong infrastructure, the city continues to attract buyers from various backgrounds, establishing itself as an appealing investment destination within Israel’s competitive real estate market.
Note: The content of this article has been generated using AI technology and does not reflect the views or opinions of any individuals or entities mentioned.