Israeli City Offers Affordable Apartments With Balconies and Shelters

The city of Harish, located in central Israel, is presenting an affordable housing option for those seeking new apartments, with a recent sale of a three-room unit for 1.21 million shekels. The 78-square-meter apartment, situated on the fourth floor of a five-story building, includes a 17-square-meter balcony, an elevator, parking, and a safe room (Mamad).

While Harish may not be a top choice for many homebuyers and has a notable number of vacant and rental properties, it offers a "sane price" for new construction. Prices in Harish have stabilized around 14,000 shekels per square meter, down from a peak of 15,000-16,000 shekels per square meter. This contrasts sharply with Tel Aviv, where similar apartments could cost between 4 to 5 million shekels, and even Beersheba, where prices would likely be hundreds of thousands of shekels higher than in Harish.

The article also highlights other recent real estate transactions across Israel. In Kiryat Gat, a 70-square-meter, three-room apartment with a balcony and safe room sold for 1.5 million shekels. Ashdod saw a 157-square-meter, five-room apartment with a balcony and safe room sold for 2.66 million shekels, and a four-room apartment for 2.15 million shekels. Beersheba recorded sales of a 50-square-meter, two-room apartment for 690,000 shekels and a 105-square-meter, four-room apartment for 940,000 shekels. Additionally, a 180-square-meter cottage on a 370-square-meter lot in Beersheba sold for 2.52 million shekels.

The report notes that the wide supply of apartments in areas like Ofakim and Netivot has kept prices stable or even slightly decreased in some new neighborhoods. Ofakim experienced a surge in price increases, at one point surpassing Tel Aviv in sales volume. The Afikei Nachal neighborhood is developing rapidly, and with a 18% tax benefit, potential buyers are considering Dimona, which offers the same tax advantage, over Beersheba. Netivot offers a 16% tax benefit.