Rare Garden Apartment in Harish Sells for Over $800,000
Translated & summarized from Globes by baba
A 5-room garden apartment in Harish, Israel, sold for 3.035 million shekels, a high price despite a general market decline. The 141-square-meter apartment features a large 237-square-meter yard and a unique location. The sale is notable as Harish's housing market has seen prices drop significantly, with four-room apartments now averaging 1.43 million shekels. Factors contributing to the high price include the apartment's size, yard, and desirable location, as well as potential interior upgrades.
The story in 5 lines · by baba
- A 5-room garden apartment in Harish sold for 3.035 million shekels, a high price for the area.
- Harish's housing market is experiencing price declines, with average prices for 4-room apartments falling 12%.
- The sold apartment is 141 square meters with a large 237 square meter private yard.
- The apartment's unique location bordering open fields and a stream contributed to its high value.
- Real estate agents cite the apartment's size, yard, and desirability as reasons for the exceptional price.
A five-room garden apartment in the "Batezetza" neighborhood of Harish has been sold for 3.035 million shekels (approximately $815,000), marking a high price for the local market. The 141-square-meter apartment includes a 237-square-meter private yard. This sale stands out as Harish's housing market is currently experiencing a price decline, making it more difficult for developers and homeowners to sell properties. Average prices for four-room apartments, which peaked at 1.62 million shekels in 2023, have fallen to around 1.43 million shekels recently, comparable to prices five years ago. This represents a significant drop of about 12%, potentially explaining why some "Apartment at a Discount" lottery winners are opting out, as the actual discount has diminished due to market shifts.
While around 30 garden apartment deals have been registered in Harish over the past year, averaging 2.35 million shekels, this particular sale is exceptional. Most garden apartments in the city are smaller than the standard 125-135 square meters, with yards typically ranging from 100-150 square meters. The high price is attributed to several factors: the apartment's substantial 141 square meter interior, a significantly larger than average 237 square meter yard (partially enclosed), and its unique location bordering open fields and the Narbeta stream, ensuring no future construction nearby. Internal upgrades may have also contributed to the price.
The apartment is part of a large project by Shapir Engineering and Construction, built on land allocated by the Israel Land Authority. Approximately 40% of the units were sold under the "Apartment at a Discount" program at a lower rate per square meter, while the rest were sold on the free market. The average price in the "Batezetza" neighborhood is consistent with the city's overall average of 1.43 million shekels. Real estate agent Liron Carmon of RE/MAX Harish noted that while the price is unusual, the specific characteristics of the street, larger apartment and yard sizes, and the desirability of the Shapir complex, particularly among the national-religious community, justify the sale. He also mentioned that this specific unit was built in later phases of the project, sold at market prices, and likely features significant interior investments.
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