Tel Aviv's Kiryat Shaul Sees Rare Transactions in New Project

Two nearly identical transactions were recorded in Tel Aviv's Kiryat Shaul neighborhood in April 2026, both involving new construction. The deals were for first-floor, 178-square-meter, five-room apartments priced at 7.375 million shekels each, equating to approximately 41,000 shekels per square meter. These were the only recorded transactions in the neighborhood over the past year, according to GOB.Nadan, highlighting a limited second-hand market where buyers primarily deal directly with contractors.

Kiryat Shaul, situated in Tel Aviv's northeastern edge bordering Ramat Hasharon, is characterized by its quiet and somewhat isolated atmosphere, largely influenced by the presence of the large Kiryat Shaul Cemetery. While older structures from the 1950s exist, new projects are also underway, such as the "Yahalom" project on Lili Menachem Street. It's important to note potential confusion with Kiryat Shaul Street, which extends into Ramat Hasharon, leading to real estate listings that may not strictly represent the Tel Aviv neighborhood.

Previous documented sales show a significant price difference between new and older properties. In June 2024, a 154-square-meter, five-room garden apartment sold for 3.95 million shekels (about 26,000 shekels per square meter). In February 2024, a 160-square-meter, first-floor, five-room apartment sold for 5 million shekels (about 31,000 shekels per square meter). In August 2023, a seven-room, 309-square-meter house sold for 10.6 million shekels.

The new project transactions at approximately 41,000 shekels per square meter represent a 30% to 60% premium over second-hand apartments sold in 2024. This price gap suggests that the neighborhood's average price per square meter is likely to increase in the coming years as new constructions become a larger part of the transaction mix.

Properties within Kiryat Shaul's official boundaries are scarce. Available listings nearby include a 203-square-meter duplex for about 5.2 million shekels and a 261-square-meter semi-detached house in nearby Ramat Hasharon listed at 10.4 million shekels. A three-room, 80-square-meter apartment on Kiryat Shaul Street in Ramat Hasharon is listed for 4.95 million shekels, though advertised prices are typically starting points for negotiation.

Kiryat Shaul offers tranquility, low-rise buildings, and proximity to green spaces, with convenient access to major highways. New projects are attracting younger families and gradually improving the area's construction standards. However, the dominant cemetery influences its image, local commerce is limited, and reliance on cars is high. The thin market also presents challenges in pricing and quick sales, requiring buyers to have a long-term perspective and budget accordingly.