Jerusalem records Israel's most expensive housing deals

Villa Sherover credit: Nimrod Levi Yoma Architects
Villa Sherover credit: Nimrod Levi Yoma Architects

"Globes" lists the most expensive housing deals in 2024 in Israel's ten biggest cities.

This year, instead of summing up the year in the luxury housing market, "Globes" lists the most expensive deals in Israel's 10 biggest cities. In the comparison between the cities, Jerusalem surprised this year, by recording the biggest deals in Israel, while Tel Aviv was in second place, by a large margin. However, since deals and especially luxury transactions, are reported late to the Israel Tax Authority, the picture may yet change.

Jerusalem: Two properties sold for more than NIS 60 million

In Jerusalem in 2024 there have been 17 deals in which homes have been sold for NIS 15 million or more. The biggest deal in Israel's ten biggest cities was at 1 Dubnov Street in the Villa Sherover complex where an eight-room, 437 square meter apartment with a 234 square meter roof area was sold for NIS 62 million.

Close to the Jerusalem Theater, the Van Leer Institute and the President's Residence in Talbieh, the buyers are foreign residents. The apartment was designed by Jerusalem's Yoma Architects. Villa Sherover was built in 1954 and the new project includes two six floor buildings joined together. Yoma says that the design serves a double purpose: "Complete preservation of the historic Villa Sherover and construction of new buildings that respect the architectural principles of the villa while creating exceptional quality in the important urban space that surrounds it."

Also in Jerusalem, an apartment in a new project at 1 Basel Street was sold for NIS 60 million. Most of the expensive deals in the city were for between NIS 20 million and NIS 29 million.

Tel Aviv: 309 square meters on the 31st floor for NIS 42 million

In Tel Aviv more than 50 deals were recorded in 2024 of more than NIS 15 million. The biggest housing deal in the city was for a house in Afeka, which was sold for NIS 49 million. According to the Tax Authority the 676 square meter house, which was built in 2011 and has parking for two cars, is at 10 Yoav Street.

Three other deals for more than NIS 40 million were signed in Rothschild 10 tower, a project being built by Tidhar and expected to be occupied next year. The most expensive of them is a 5-room 309 square meter apartment, on the 31st floor, which was sold in August for NIS 47 million. Two other similar apartments were sold for NIS 45 and NIS 42 million. The first ten floors of the building will house a 140-room hotel with, and the floors above will contain 50 residential apartments. The building is located between Rothschild, Herzl and Lilienblum Street, and the complex also includes five buildings for conservation.

Haifa: Average price of NIS 4 million in exclusive neighborhood

In Haifa, housing prices have risen by 11% in just one quarter of 2024 but the expensive segment of the market in the city is very limited. There was just one deal in Haifa over NIS 10 million - the sale of a house at 7 Hof Hashinhav Street in Denya. The seven room, 360 square meter house was sold for NIS 10 million. The house has parking for two cars. According to Madlan data the average price of a home in Denya is NIS 4 million and there were only eight deals in the neighborhood in 2024.

Rishon Lezion: A house in Nahlat Yehuda sold for NIS 12.5 million

In Rishon Lezion there were only two housing deals for more than NIS 8 million in 2024. In one of the deals a 400 square meter, five-room semi-detached house with parking for two cars in Ortal Street was sold for NIS 8.1 million. There was an even bigger deal in the Nahlat Yehuda neighborhood on Avraham Zvi Huberman Street where the Tax Authority reports a house was sold for NIS 12.5 million. No additional details were provided.

Petah Tikva: A house in Kfar Ganim sold for NIS 12 million

One of the most surprising expensive housing deals in 2024 was in Petah Tikva at 8 Partizanim Street in Kfar Ganim Aleph where a 428 square meter, 11-room house with a 576 square meter yard and two parking spaces was sold for NIS 12.392 million. This was the most expensive deal in the city over the past five years although according to Madlan the deal reflects a price of NIS 29,000 per square meter, only slightly above the average of NIS 27,000 per square meter in the city.

Netanya: NIS 37 million paid for penthouse in Briga Towers

In Netanya, there were eight deals worth more than NIS 10 million in 2024 including an apartment in Briga Towers at 5 Ehud Manor Street in Ir Yamim, which was sold for NIS 37 million. The 497 square meter, five-room penthouse apartment is on the 33rd floor near the seafront. In November 2023, another penthouse in the project was sold for NIS 36.6 million.

Ashdod: A five-room, 29th floor apartment near the sea sold for NIS 8 million

At 1 Egoz Street a 236 square meter, five-room, fifth floor new apartment with a 133 square meter roof area was sold for NIS 9 million. The second most expensive apartment sold in Ashdod was at 5 Hadekel Street near the sea. In this deal a 455 square meter, five-room apartment on the 29th and top floor was sold for NIS 8 million.

Bnai Brak: A top floor 160 square meter apartment was sold for NIS 5 million

Over the past three years no particularly expensive deals have been reported in Bnai Brak. The most expensive deal in the city was at 10 Admor Meradzamin Street where a five room, 160 square meter, sixth floor apartment with parking was sold for NIS 5 million. Two other deals at similar prices were reported in Bnai Brak in 2024.

Beersheva: A house in Ramot Daled for over NIS 5 million

The only deal in Beersheva for more than NIS 5 million in 2024 was the purchase of a house at 3 Hatmuna Street in Ramot Daled. The six-room, 327 square meter house on a 750 square meter lot was sold for NIS 5.3 million. The house is a 15 minute walk from the University railway station.

Holon: An apartment in a TAMA project for NIS 8 million

In Holon in 2024 there were 11 deals for more than NIS 5 million. The most expensive deal was the sale of a 168 square meter, six-room, ninth floor apartment at 17 Uri Almog Street in the 370/heh neighborhood for NIS 7.5 million.

In another deal, an old house slated for demolition on a 2,000 square meter lot was sold for NIS 8 million.

Published by Globes, Israel business news - en.globes.co.il - on December 29, 2024

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024

Villa Sherover credit: Nimrod Levi Yoma Architects
Villa Sherover credit: Nimrod Levi Yoma Architects
Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Holon, Rehovot, Kiryat Tivon, Shlomi and Beersheva.

Dano Ben-Hur credit: Dror Sithakol Statisticians contradict BoI on housing finance deals

The Central Bureau of Statistics insists the impact of 20/80 buy now pay later financing deals on the real estate market and housing prices is minimal.

Eilat's old airport Photo: Shutterstock Building set to begin on former Eilat airport land

2,469 housing units will be built as well as 2,776 hotel rooms, 88,000 square meters of office space and 95,000 square meters of commercial space.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Givatayim, Ra'anana, Modiin-Maccabim-Reut, Gedera, Kiryat Shemona and Ashkelon.

Airbnb credit: Reuters Knesset ignores Airbnb tax evasion loophole

The Israel Hotels Association has slammed the government's indifference to tax evasion by Airbnb landlords, which it insists promotes unfair competition.

Sde Dov credit: Guy Yehieli Tenders close for 2,744 more homes in Sde Dov

Four tenders closed last month for the north Tel Aviv district saw a decrease of about 40% in the prices of land, and there is great interest in the prices these latest tenders will fetch.

Tel Aviv credit: Shutterstock Rent rises moderate due to emigration and reserve duty

Rents only rose 4% in 2024, the Bank of Israel reports, despite the large number of evacuees, due to the negative migration balance and the large number of young people in the army reserves.

Africa Israel Residence CEO Ronit Eshed Levy credit: Cadya Levy "Jewish communities want to move together to Jerusalem"

Africa Israel Residence CEO Ronit Eshed Levy told the Globes Going Long on Israel investment conference about urban renewal in Jerusalem.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Netanya, Rishon Lezion, Tirat Carmel and Sderot.

Supervisor of Banks Daniel Hahiashvili   credit: Eyal Izhar, Shlomi Yosef  processing: Tali Bogdanovsky BoI moves to restrict developers' financing offers

Supervisor of Banks Daniel Hahiashvili sees growing risk in bank loans subsidizing new home purchases.

Check Point offices credit: Shutterstock Check Point, Israel Canada buying NIS 800m Tel Aviv site

The two companies are expected to win a tender by the Tel Aviv Municipality for land zoned for residential and office construction in the Bitsaron neighborhood.

Inflation  credit: Tali Bogdanovsky Unexpectedly low February CPI reading cuts inflation

While inflation in Israel in the 12 months to the end of February 2025 is lower than forecast, housing prices continue to rise.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

Real estate agencies illustration: Tali Bogdanovsky credit: Eyal Izhar Too many agents and too few housing deals in Tel Aviv

There were 2,270 second-hand homes sold in Tel Aviv last year, while the city has 2,566 registered realtors, "Globes" finds.

Ramat Hasharon house in Ankor Street credit: Leanna Rose Ramat Hasharon house sells for NIS 12.4m

The 240 square meter, five-room semi-detached house on two floors is on a 430 square meter lot in the Neve Rom neighborhood.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018