Affordable Apartments in Israel's Periphery Attract Young Buyers
Translated & summarized from Ice by baba
Young Israeli couples are increasingly moving to the periphery due to high housing costs in central areas, seeking more affordable homes. Apartments in the periphery, often lacking protected rooms, are selling for between 600,000 and 850,000 shekels. Recent sales data shows significant price disparities, with similar-sized apartments in central cities costing several times more. This trend reflects a growing demand for accessible housing options outside major metropolitan centers.
The story in 5 lines · by baba
- Young couples are moving to Israel's periphery due to high central housing prices.
- Peripheral apartments without protected rooms sell for 600,000-850,000 shekels.
- Central apartments can cost up to 3.5 million shekels, driving relocation.
- Lack of protected rooms is a major factor lowering peripheral property prices.
- Recent sales data illustrates significant price differences across regions.
High housing prices in Israel's central regions are prompting many young couples to consider relocating to the periphery, where properties are significantly more affordable. This trend is particularly noticeable among individuals who grew up in these areas and are now returning. For instance, former Haifa residents who moved to central Israel found that a modest three-room apartment could cost as much as 3.5 million shekels. In contrast, a similar apartment in Haifa can be purchased for about a third of that price. Many such transactions have occurred recently.
A primary drawback of these peripheral properties is the frequent absence of a protected room, or "mamad." The lack of a mamad significantly reduces apartment prices, as potential buyers are increasingly unwilling to risk living in unfortified homes. However, the lower cost remains a major advantage, with three-room apartments in the periphery available for prices ranging from 600,000 to 850,000 shekels, making them suitable for young couples starting out.
Recent sales data from real estate agencies highlight these price differences. In Nahariya, a 55-square-meter, 2.5-room apartment sold for 625,000 shekels. In Acre, a 70-square-meter, three-room apartment was sold for 850,000 shekels. Beersheba saw a 76-square-meter, three-room apartment sold for 600,000 shekels, while a larger 83-square-meter, four-room apartment in the same city sold for 1.19 million shekels. Karmiel had a 74-square-meter, three-room apartment sold for 830,000 shekels.
In contrast, apartments in more central or developed areas command much higher prices. A 100-square-meter, four-room apartment in Holon sold for 2.45 million shekels. In Ashdod, a 128-square-meter, four-room apartment with a mamad was sold for 2.14 million shekels. Shoham, a more upscale town, saw a 130-square-meter, five-room apartment with a mamad sold for 3.7 million shekels. Even in the newer city of Harish, where prices per square meter are between 14,000-16,000 shekels, four- and five-room apartments sold for between 1.21 million and 1.65 million shekels. Second-hand deals in cities like Ramla, Netanya, Haifa, and Kiryat Gat also show prices significantly higher than the most affordable peripheral options, with apartments ranging from 1.25 million to 3.4 million shekels.
