45 Israeli Cities Fit 4-Room Apartment Budget of 2 Million Shekels

A new tool developed by Bizportal allows potential homebuyers to identify Israeli cities where a four-room apartment can be purchased for approximately 2 million shekels. Out of 85 surveyed cities, 45 meet this budget criterion based on median sale prices over the past 12 months, provided at least 30 transactions occurred in the city. Cities closest to the 2 million shekel mark include Or Akiva at exactly 2 million, Elad at 1.91 million, Ashdod at a median of 1.9 million, Hadera at 1.87 million, Tirat Carmel at 1.86 million, and Kiryat Ata at 1.8 million. In contrast, cities like Nazareth, Ofakim, and Kiryat Shmona have median prices around 900,000 shekels for a four-room apartment. The tool also allows users to adjust their budget between 1.5 and 4 million shekels and search for three, four, or five-room apartments. For instance, with a 1.5 million shekel budget, 48 cities are suitable for a three-room apartment, while 76 cities are available for a four-room apartment at a 3 million shekel budget. The data presented for each city includes median price, price per square meter, number of transactions, a reliability score, and the difference from the user's budget in both shekels and percentage. Cities that exceed the budget by up to 15% are listed separately, including Tzoran Yitzhak, Pardes Hanna-Karkur, Yokneam Illit, and Holon. For comparison, a four-room apartment in Tel Aviv has a median price of 3.87 million shekels, based on 1,532 transactions. In Hadera, the price difference between a three-room and a five-room apartment can nearly double the cost, from 1.23 million to 2.4 million shekels. Similarly, in Gedera, a three-room apartment sells for a median of 1.95 million shekels, while a five-room apartment costs 3.13 million shekels. In Tel Aviv, these figures are 2.96 million and 5.31 million shekels, respectively. The actual purchasing budget is typically determined by a combination of down payment and the monthly mortgage repayment approved by a bank, which can significantly differ from central Israel's property prices.