Haifa Apartment Sells for NIS 1.25 Million Amid Market Slowdown
Translated & summarized from Globes by baba
A 4-room apartment in Haifa's Kiryat Eliezer neighborhood sold for 1.25 million shekels after being on the market for a month. The sale was complicated by a buyer withdrawal, but ultimately proceeded. Real estate agent Gregory Melnik noted a strong demand for protected apartments but a slowdown in the market, with sellers needing to compromise on price. Recent sales in other cities like Holon, Kfar Yona, Dimona, Afula, Ashdod, and Kfar Vradim are also detailed, with prices varying significantly by location and property type.
The story in 6 lines · by baba
- A 4-room apartment in Haifa's Kiryat Eliezer sold for 1.25 million shekels.
- The apartment was initially listed at 1.39 million shekels and took about a month to sell.
- The sale was complicated by a buyer withdrawing from a related transaction.
- A real estate agent noted strong demand for protected apartments in Haifa.
- Sellers needing to sell quickly must compromise on price in the current market.
- Recent apartment sales in Holon, Dimona, Afula, and Ashdod are also listed.
A four-room apartment spanning approximately 100 square meters in Haifa's Kiryat Eliezer neighborhood was sold for 1.25 million shekels. The apartment, located on the first floor of an 18-story building and lacking parking, was initially listed at 1.39 million shekels and remained on the market for about a month. The sellers inherited the property, and the buyers are local residents upgrading their homes.
According to real estate agent Gregory Melnik of Re/Max Selected Haifa, the sellers had attempted to sell the apartment for nearly three years without success. After he took over the listing, it sold within a month. Melnik facilitated the sale by also listing the buyers' previous apartment, which was in a building slated for urban renewal. The buyers, a young couple expecting a child, were eager to move into a protected apartment with a safe room immediately, rather than wait for the renewal project.
However, the transaction faced a significant hurdle when the buyer of the couple's previous apartment withdrew from the deal after three weeks of negotiations, jeopardizing the purchase in Haifa. A new buyer was eventually found for the couple's original apartment, allowing both deals to proceed. Melnik noted a strong demand for protected apartments in Haifa, both for purchase and rent, but emphasized that sellers needing to sell quickly must compromise on price. He observed that while opportunities exist, investor activity is low, making sales more challenging than in previous years.
The article also lists recent sales in other cities: Holon saw a 3-room apartment sell for 2.3 million shekels and a 4-room for 2.05 million shekels. Kfar Yona had a 5-room apartment sold for 2.67 million shekels. In Dimona, a 3-room cottage sold for 1 million shekels, and a 3-room apartment for 650,000 shekels. Afula recorded a 4-room apartment sale at 1.28 million shekels. Ashdod had a 3-room apartment sell for 2.03 million shekels and a 4-room for 1.8 million shekels. Kfar Vradim featured a 5-room house sold for 2.04 million shekels.
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