Real Estate in Israel
Real Estate in Other Cities in Israel
The continuing trend in the real estate market indicates a steady rise in apartment prices in Israel, a trend that has been going on for many years and does not intend to stop soon.
There is a very clear reason for this: Demand for homes is way beyond the supply.
The ratio of the growing demand for housing (both Israeli and foreigners) based on the increasing population and the new construction is far from being equal.
As a result, as the years go by and no significant changes occur in the construction industry, the demand will remain high and apartment prices will continue to rise, especially in the central area where most urban renewal projects and large and prestigious construction projects are to be found.
What is the Average Apartment Price in Israel?
One of the most convenient indicators to present and understand, regarding apartment prices in Israel, is the average apartment price.
It must be said – there is no such thing as an ‘average apartment’.
An apartment has so many parameters that it is impossible to reach an apartment that is statistically considered ‘average’.
However, it is customary to take a certain type of apartment, according to some of the parameters (for that matter, a 4-room apartment with an area of 90 square meters), and call it an “average apartment”, in order to answer questions like “How many average salaries do you have to spend to buy an apartment?” Average in Israel? “- when the average salary can be calculated statistically, and the average apartment is an apartment that is perceived as a common apartment in the Israeli real estate market.
Taxes and the Purchase of Apartments in Israel
The Israel Tax Authority treats real estate taxation differently than the tax brackets in other markets.
Real estate in Israel, and there are quite a few types of real estate taxation.
Real estate taxation is subject to the Real Estate Taxation (Appreciation and Acquisition) Law of the Tax Authority, which has been in effect in Israel since 1963.
The two main taxes are purchase tax for anyone who buys an apartment. And appreciation tax for anyone who sells an apartment.
What are the Factors that Affect Apartment Prices?
The price of apartments in Israel is affected by a variety of factors that affect the entire market:
from major government programs such as ‘price per occupant’, changes in supply (land) and changes in demand (young couples who ‘sit on the fence’ and do not buy an apartment, stay in rented apartments / with parents), changes Demographics (large increase of buyers from abroad, divorce rate), building infrastructure, improving accessibility to a particular locality, war situations, and more and more.
Israel Real Estate Prices for new Apartments
Many Israelis who are interested in buying an apartment are trying to understand what is better in terms of price – a new apartment from a contractor, or a second-hand apartment? In principle, the prices of an apartment from a contractor are 10% -15% higher than a second-hand apartment, without taking into account additional costs that exist only in purchasing an apartment from a contractor, such as linking to the construction input index, a contractor lawyer, and more.
However, there are places where there is a high demand for apartments, so the gaps between new and second-hand apartments are lower, when in some cases there is no gap at all. This is because of the high availability of second-hand apartments: when buying a second-hand apartment, you can enter it in only a short period, compared to buying from a contractor, when you have to wait until the end of construction, which can take several years.
In addition, in many cases, contractor apartments are sold at bargain prices, because the contractor has a greater interest in selling as quickly as possible, in order to reduce the level of financing and leverage he manages vis-à-vis the financing entity. Once the contractor sells an apartment, after receiving the down payment and signing the contract, his exposure to risk and his financing costs are lower. Therefore, it is not uncommon to see particularly affordable prices on new apartments, even compared to second-hand apartments in the same area and with the same data.
Apartment Prices by Cities
The national housing price index weights the prices in the various localities, in accordance with the number of dwellings in that locality compared with the total number of dwellings in Israel.
That is, if Tel Aviv constitutes 3% of the volume of dwellings in Israel, after calculating the average price of dwellings in the city, the contribution of this figure to the overall index is weighted according to the city’s relative share in the national real estate market.
Apartment prices in different cities vary drastically, according to many and varied parameters: proximity to employment areas, transportation accessibility, public transportation, infrastructure quality, population types, nature of residence, community services like parks, education system, culture and leisure), and more.
You can search the various indices for apartment prices by city, in order to see the change within each city, and the comparison between the prices in the different cities.
Beit Shemesh Houses for Sale
In recent years, the rate of population growth in Beit Shemesh has increased significantly – an average of 5% per year.
In 1991, Beit Shemesh was declared a city, and many Israelis are looking for options to purchase a new apartment in Beit Shemesh. The city is only about 60 km from the city of Tel Aviv, which makes it a very nice option for those who want to enjoy apartments at affordable prices, while maintaining a reasonable distance from the center of employment and culture of Israel.
Today, the city of Beit Shemesh is home to about 110,000 residents, and thanks to the many new projects in Beit Shemesh for young couples and Beit Shemesh houses for sale in the city, it is likely that the number will increase in the coming years.
Beit Shemesh consists of several neighborhoods, some of which are very different from each other. The old neighborhoods have a secular population with new immigrants from Russia and Ethiopia.
The Ramat Beit Shemesh B neighborhood is an ultra-Orthodox neighborhood and largely disadvantaged. On the other hand, the Ramat Beit Shemesh A neighborhood is modern ultra-Orthodox and the most expensive neighborhood in Beit Shemesh. This was the start of the influx of the stronger and richer population. The neighborhood is made up of excellent people from the United States, Israelis and more. Adjacent to it are the neighborhoods of Ramat Beit Shemesh III, Ramat Beit Shemesh IV and Ramat Beit Shemesh V. They are all new neighborhoods populated with modern ultra-Orthodox.
Because of the differences between the different neighborhoods, it is difficult to give an average. But still, I will say that according to the madlan website the average price of an apartment is 1.5 million shekels. Average rental price 3,800 NIS. The average price per square meter is NIS 15,000 and the average annual yield on renting an apartment is 2.7%.
Herzliya Israel Real Estate
For me, Herzliya real estate is divided into two completely different cities. The first city is Herzliya. And the second city Herzliya Pituach. Between them the highway Coast Road, Road No. 2 passes.
Herzliya Pituach real estate is closer to the sea, much richer, with mostly detached houses. On the other hand, Herzliya real estate, on the other side of the coastal road is more similar to ordinary modern cities.
From anywhere the average seller of an apartment in Herzliya (including Herzliya Pituach apartments for sale) is NIS 2.8 million. Average rental price 7,200 NIS. The average price of a square meter is NIS 26.00 and the annual yield of renting apartments is 2.8%.
Apartments for sale in ashdod israel
Ashdod is a port city of Israel.
The city is made up of many neighborhoods.
In order to make your choice of apartment for sale in Ashdod Israel you have to choose the neighborhood that best suits you and your family. Each neighborhood has its own character.
Ashdod is spread over a large area and large parts of it serve the port of Ashdod.
According to the ‘Madlan’ website houses for sale in Ashdod Israel are rising steadily, The average apartment price is NIS 1.9 million. The average price to rent an apartment is NIS 4,400 per month.
The average price of a square meter is NIS 20,000 per square meter and the annual yield of renting an apartment is 2.5%.
Ramat Poleg Real Estate
Ramat Poleg is a beachfront neighborhood and prices for Ramat Poleg real estate reflect it.
Ramat Poleg is the southernmost neighborhood in Netanya and it borders the Ir Yamim neighborhood to the north, the coastal road and Moshav Udim to the south.
According to the ‘Madlan’ website, the average purchase price is NIS 2.1 million.
The average price for rent is 5,500 NIS. The average price per square meter is NIS 18,000 and the annual yield is 2.8% annual.
Zichron Yaakov Homes for Sale
Zichron Yaakov is a small and beautiful city on a mountain overlooking the beach.
The city is ancient but has been revived thanks to non-residents from England and the United States. Zichron Yaackov homes for sale has a lot of ground-level construction.
According to the ‘Madlan’ website, the average price of an apartment is NIS 2 million. Their average rent is NIS 4,600. The average price per square meter is NIS 16,300 and the annual yield is 2.5%.
Elad Israel Real Estate
Elad is a young city populated by the ultra-Orthodox.
It is less ultra-Orthodox than cities like Beitar and Kiryat Sefer, and Elad’s socio-economic level is better.
It is even better located in terms of access roads to other major cities.
According to ‘Madlan’, the average price for Elad real estate is NIS 1.7 million, and the average price per square meter in Elad is NIS 20,000.
Real Estate Nahariya Israel
Nahariya is a small city in northern Israel on the coastline.
It used to be a bit of a tourist town but in my opinion lately it is less successful at it.
The city itself is considered in the periphery and the level of prices and deals reflects its being not so desirable therefor the prices of real estate in Nahariya Israel are somewhat lower that they could be..
In terms of real estate prices, according to ‘Madlan’ data, the average price of a housing unit in Nahariya is NIS 1.1 million.
The average rental price is NIS 3,500. The average price per square meter is NIS 11,000 and the annual yield on renting an apartment in Nahariya is 3.3%.
Tiberias Israel Real Estate for Sale
Tiberias is a beautiful and hisotical city. For many years Tiberias fought with Eilat as a tourist city. But in all respects Tiberias lost to Eilat. This is evident in all areas and also in real estate prices.
Tiberias is located on the shores of the Sea of Galilee.
It is also located on a mountainside. Because of the topography of the city so the higher you go up the mountain the better the air gets. The same goes for real estate prices – the higher and the further away from the Sea of Galilee and the city center – the higher the real estate prices.
The average price of an apartment in Tiberias is about 950,000 NIS. The average rent is NIS 2,700. The average price per square meter is NIS 9,600 and the annual yield is 3.11%.
The Sea of Galilee
The Sea of Galilee or perhaps Lake Galilee (Kinneret or Kinnereth) is a freshwater lake in Israel. It is the lowest freshwater lake on Earth and the second-lowest lake in the world. At levels between 215 metres (705 ft) and 209 metres (686 ft) below sea level.
Around The sea of Galilee you can find many Kibutzem and hotels. So as beaches and other tourist activities.
Galilee Israel real estate
you I you want to buy a house in Galilee or galilee Israel real estate, so I recommend you visit and check the main cities in the Galilee. So as Tiberias, Tzfat, Nazareth, Mount Meron, Afula and Carmiel.
Homes for sale on the sea of galilee
Tiberias is a striped city. For many years she fought with Eilat to be a tourist city. But in all respects, she lost to Eilat. This is evident in all areas and also in prices of Tiberias Israel Real Estate for Sale.
Tiberias is located on the shores of the Sea of Galilee. It is also located on a mountainside. Because of the topography of the city so the higher you go up the mountain the better the air. The same goes for real estate prices – the higher you are and the further away from the Sea of Galilee and the city center – the higher the price of the home for sale on the sea of galilee.
In general, there has been a growth in construction of homes for sale in Tiberias Israel. Young couples that are not able to afford a home in the centers, opt for this area.
The average price of an apartment is about 950,000 NIS. The average rent is NIS 2,700. The average price per square meter is NIS 9,600 and the annual yield is 3.11%.
Houses for Sale Modiin Israel
Modiin is a modern, strong and young city.
Modi’in is one of the only cities in Israel that was planned before construction began. About one hundred thousand inhabitants live in it and modiin real estate is still in demand.
Modiin is well planned and has received many awards for it.
The entire city of Modi’in was planned in advance in order to be a large district city between Jerusalem and Tel Aviv. There are industrial areas, offices, parks and a variety of other designated areas that make Modi’in real estate for sale still very desirable.
Homes for sale in Modiin Israel are very popular because of Modiin’s proximity to Jerusalem and to Tel Aviv and major places of employment, as well as two train stations, that connect the city to the center of Israel.
The people who have decided to buy houses for sale in Modiin Israel are diverse. They come from various countries abroad, such as the USA, Canada, the UK, and France. As well as from Jerusalem and Tel Aviv.
According to ‘Madlan’ data, the average price of an apartment is NIS 2.3 million. The average price for rent is 5,600 NIS. The average price per square meter is NIS 22,000 and the annual yield is 2.7%.
Kfar Vradim Real Estate
Located in the northern region of Israel, Kfar-Vradim real estate is known for its prestige value, having one of the best views and village architecture in the country.
In part of the older section of the village, Kfar-Vradim real estate has a unique plot size – 800sqm, almost double the average new plots on the market.
The size of the houses is above average as well – 300sqm with 5 bedrooms, 6 bathrooms, large family areas and a covered parking.
Gush Etzion Real Estate
Gush Etzion is a regional council that contains a number of localities such as Alon Shvut, Tekoa, Neve Daniel.
Adjacent to Gush Etzion is the city of Efrat. From a legal point of view, real estate in Gush Etzion is registered in the offices of the Civil Administration and not in the Land Registry.
In general, the localities beyond the Green Line are weaker socio-economically than other localities I have talked about. But Gush Etzion and especially Alon Shvut and Efrat are different. They are strong settlements and real estate in these settlements is not cheap.