Shapir Real Estate Seeks Premium Prices for New Yehud Apartments
Shapir Real Estate is targeting the high end of the housing market in Yehud-Monosson with its Gadot Savion project, which will feature 204 apartments across three buildings. The company is setting a starting price of approximately 3.15 million shekels for a three-room apartment, aiming to command a premium for the location in a new neighborhood, proximity to a park, shared amenities, and future access to the Purple Line of the light rail.
The project offers apartments ranging from three to six rooms, including garden apartments and larger units on upper floors. Shapir has allocated about 2,250 square meters for shared spaces for residents, such as co-working areas, a gym, lounges, and a cinema. Apartment deliveries are scheduled for 2028.
The starting price for an 80-square-meter, three-room apartment with a 14-square-meter balcony is 3.15 million shekels, equating to roughly 39,400 shekels per square meter. A four-room apartment of about 120 square meters starts at 4.2 million shekels (35,000 shekels per square meter), and five-room apartments begin at 4.45 million shekels.
These prices are higher than some previous transactions and opening prices in Yehud this year. For comparison, the Mohliver project reported opening prices of around 2.39 million shekels for three-room apartments and 2.65 million shekels for four-room apartments earlier this year, approximately 26,000 to 27,000 shekels per square meter. Even in the open market, four-room apartments in Yehud have sold for between 2.7 and 3 million shekels.
Shapir's strategy to differentiate the project includes extensive shared facilities, with each building having approximately 750 square meters dedicated to communal use. However, the company faces a challenging sales environment due to a high inventory of unsold new apartments nationwide, currently around 84,000 units. This market condition increases the bargaining power of apartment buyers.
The project's proximity to a planned 90-dunam park and the upcoming Purple Line light rail, expected to open in 2028 with seven stations in Yehud-Monosson, are key marketing points. While these amenities can add value, the high entry price for a three-room apartment means sales pace will be a crucial indicator of Shapir's success in achieving its premium pricing strategy.
