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Valley Railway boosts northern town home prices - report

Valley Railway Photo: Sasson Tiram
Valley Railway Photo: Sasson Tiram
9 Nov, 2017 12:28
שלח תגובה במיילGlobes correspondent

Real estate prices in Beit Shean, Migdal Ha'Emek, and Yokneam have risen sharply since the railway line opened in October 2016, "Yediot Ahronot" reports.

The Jezreel Valley Railway between Haifa and Beit Shean, opened just over a year ago, has boosted real estate prices in the northern towns along the route, "Yediot Ahronot" reports, according to an examination of Tax Authority records of real estate deals by appraiser Nehama Bogin.

The new line was opened on October 16, roughly along the route of the western section of the old Ottoman built Haifa - Syria line, with stations in Yokneam, Migdal Ha'Emek, Afula and Beit Shean.

In just 12 months, "Yediot Ahronot" found that the price of an average home in Beit Shean rose by a massive 22% from NIS 562,000 to NIS 684,000. When work began on the line in 2011, the price of an average home in Beit Shean was just NIS 318,000, less than half today's average price.

In Afula, the price of the average home has risen just 3% over the past year from NIS 889,000 to NIS 916,000. In Migdal Ha'Emek, the price of an average home has risen 18.5% over the past year from NIS 562,000 to NIS 684,000. In Yokneam, the price of an average home has risen 9.5% over the past year from NIS 1.23 million to NIS 1.35 million.

Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Valley Railway Photo: Sasson Tiram
Valley Railway Photo: Sasson Tiram
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