New Housing Project in Safed Offers Unique Investment and Living Opportunity
Translated & summarized from Behadrei Haredim by baba
A new housing project, Oranim HEIGHTS in Safed, offers a group-managed approach to building homes, aiming for cost savings and appealing to residents, vacationers, and investors. The development features 80 attached homes with private yards and mountain views, with initial land rights starting at NIS 160,000. Developers claim potential savings of up to 30% compared to similar properties, citing Safed's urban development plans as a factor in potential property value appreciation.
The story in 5 lines · by baba
- Oranim HEIGHTS in Safed offers 80 attached homes with private yards and mountain views.
- The project uses a group-managed model for land rights purchase and construction.
- Initial land rights start at NIS 160,000, with estimated total costs around NIS 2.4 million.
- Developers claim potential cost savings of up to 30% compared to similar Safed homes.
- A special offer provides up to NIS 100,000 benefit on land for the first seven participants.
A new residential project called Oranim HEIGHTS is being developed by Givat Hodaya in Safed, offering a unique approach to homeownership. The project, located in the Neve Oren neighborhood, features a complex of 80 attached single-family homes, each with a private entrance, yard, and views of the Galilee and Hermon mountains. The development targets individuals and families looking for a permanent residence, a vacation home, or an investment property in the northern Israeli city.
The project's model involves purchasing land rights and progressing through a group-managed planning and construction process, which the developers claim can lead to cost savings of up to 30% compared to similar homes in Safed. The initial investment for land rights starts at NIS 160,000, with the total estimated cost for a 140-square-meter house, including land, planning, and construction, projected at around NIS 2.4 million. This group approach allows participants to manage costs by acquiring rights and working with professionals rather than buying from a developer at a final sale price.
Oranim HEIGHTS is designed to cater to various needs. For families, it offers space for children to play and for hosting guests. For those seeking a vacation home, it provides a permanent base in the North for holidays and family gatherings. The project also highlights Safed's potential for property value appreciation, citing the city's ongoing development plans, including a "contract of the roof" that includes the construction of over 7,000 housing units and commercial areas.
The project offers a digital tour allowing potential buyers to explore plots in 3D, view landscape orientations, and consider planning alternatives. Currently, there is a special offer for the first seven participants, providing a benefit of up to NIS 100,000 on the land component, subject to terms and availability. The company emphasizes that while this model aims for savings, actual costs and future property values will depend on final expenses, market conditions, and the execution timeline.
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