45 Israeli Cities Offer 4-Room Apartments Within NIS 2 Million Budget

A new online calculator from Bizportal reveals that 45 out of 85 surveyed Israeli cities offer four-room apartments for a median price of NIS 2 million or less. The tool analyzes actual transaction data from the past 12 months, requiring at least 30 sales in a city for it to be included.

Cities where a four-room apartment can be purchased within the NIS 2 million budget include Ashdod, Hadera, and Elad, with median prices around NIS 1.87 million to NIS 1.91 million. Other cities close to this price point are Or Akiva (exactly NIS 2 million), Tirat Carmel (NIS 1.86 million), and Kiryat Ata (NIS 1.8 million).

In contrast, cities like Holon and Rishon LeZion already exceed this budget, with median prices for similar apartments at NIS 2.17 million and NIS 2.2 million, respectively. Rehovot, Rosh HaAyin, and Yehud are priced around NIS 2.3 million. At the lower end of the spectrum, Nazareth, Ofakim, and Kiryat Shmona have median prices for four-room apartments around NIS 900,000.

The calculator also allows users to adjust the budget between NIS 1.5 million and NIS 4 million and to search for three, four, or five-room apartments. For instance, 48 cities are suitable for a three-room apartment within a NIS 1.5 million budget, while 76 cities fit a four-room apartment within a NIS 3 million budget.

Tel Aviv stands out as the most expensive market, with a median price of NIS 3.87 million for a four-room apartment based on over 1,500 transactions. The article also notes significant price variations within cities, such as in Hadera, where the price difference between a three-room and a five-room apartment can nearly double the cost, and in Gedera, where a three-room apartment costs NIS 1.95 million and a five-room apartment costs NIS 3.13 million.