Haifa Apartment With Massive Balcony Sells for 1.55 Million Shekels

A two-room apartment in Haifa, measuring 40 square meters with an unusually large 63-square-meter balcony, has been sold for 1.55 million shekels. The apartment, located at 24 Elhanan Street, also features a bedroom that doubles as a protected space. This transaction is part of a broader trend in Haifa, where over 200 two-room apartment deals have been recorded since the beginning of 2026, with prices varying significantly across different neighborhoods. Cheaper units are typically found in Hadar HaCarmel and the Lower City, often in older buildings needing maintenance, starting at 350,000 shekels. In contrast, apartments on Mount Carmel, especially in prime locations, can fetch between 1.6 to 2 million shekels. The apartment in question is situated in a project developed in the late 1990s in the heart of Mount Carmel, near a major intersection. The building, completed in 2002, features a stepped design due to the terrain, with most units being small (43-50 square meters) and duplexes on the upper floors. Notably, two apartments on the third floor received large balconies, effectively functioning as penthouses. Recent sales in the building include a duplex for 1.65 million shekels and a 57-square-meter apartment for 1.56 million shekels. Appraisers estimate the equivalent price per square meter for the analyzed apartment, including the balcony, to be around 25,000 shekels, a price considered reasonable given its unique features and location. Such apartments are seen as potentially suitable for individuals or couples seeking a desirable location without needing extensive living space, or for investors and older residents who value outdoor areas.