Old Private Home in Tel Aviv’s Yad Eliyahu Sells for NIS 3.52 Million with Extensive Building Rights

A 3.5-room private house located on Haim Sirni Street in the Yad Eliyahu neighborhood of Tel Aviv was sold for 3.52 million shekels. The property features an 85-square-meter built area on a 195-square-meter plot and is a single-level, older home often referred to as a "grandma's house." According to an appraisal report, the buyers have rights to build additional units totaling approximately 240 square meters, either as a garden apartment with a basement and a first-floor apartment with an extra room on the roof or as a single four-level dwelling.

The property was initially marketed at 3.89 million shekels and remained on the market for about two months. The sellers are heirs, while the buyers are a young couple from Tel Aviv intending to renovate and live in the house. Idan Yashar, team manager at Re/max Ocean Tel Aviv who represented both parties, noted the current market challenges, including longer listing periods and a lack of investors, though demand in Yad Eliyahu remains steady, driven mainly by families seeking residential homes.

Yashar highlighted that prices in Yad Eliyahu have been relatively stable over the past two years, with only slight declines, contrasting with other Tel Aviv neighborhoods like Hatikva, Neve Shaanan, Shapira, and Florentin, which rely more on investors and have been more affected by market conditions.

The article also lists recent second-hand apartment sales in various Israeli cities, including Ramat Gan, Shoham, Beersheba, Haifa, and Yehud, providing details on size, floor, parking availability, and prices, illustrating the broader real estate market landscape across the country.