Tel Aviv 3-Room Apartment Sells for 2.4 Million Shekels Without Elevator or Shelter
The Israeli Central Bureau of Statistics recently reported a 0.3% decline in housing prices during March-April 2024 compared to the previous two months, marking a 1.3% annual decrease. A state audit revealed that thousands of government-owned properties lack updated mapping and shelter information, complicating transparency in the current housing market.
A survey of recent second-hand apartment sales across various cities highlights significant price variations. In Beersheba, a 3-room, 69-square-meter apartment on the second floor sold for 660,000 shekels, while a larger 3.5-room unit reached 990,000 shekels. In Ramat Beersheba, a 3-room apartment with a balcony, elevator, parking, and shelter sold for 1.32 million shekels.
In Ness Ziona, a 6-room, 140-square-meter apartment on the fourth floor sold for 2.79 million shekels. Ramla saw 3-room apartments priced around 1.34 to 1.36 million shekels, and a 5-room apartment with extensive amenities sold for 2.3 million shekels. Lod's 3-room apartments with elevator and parking sold for approximately 1.29 million shekels.
In Tel Aviv's Neve Shaanan neighborhood, a 3-room, 60-square-meter apartment on the third floor without an elevator or shelter sold for 2.4 million shekels. Jerusalem's prices were higher, with a 3-room apartment selling for 2.73 million shekels and a 4-room garden apartment for 6.3 million shekels. Haifa's 3-room apartments with balconies, elevators, parking, and shelters sold between 1.38 and 1.77 million shekels.
The data was compiled with input from national real estate agencies Remax and Anglo-Saxon, reflecting the diverse housing market conditions across Israel's major cities.
