Five-room Givatayim apartment sells for NIS 5.65 million at asking price

A five-room apartment on Hanita Street 3, in the heart of Givatayim’s Borochov neighborhood, sold for NIS 5.65 million. The 125-square-meter unit is on the first floor of a seven-story boutique building completed four years ago, and includes two balconies, one 12 square meters at the front and another 10 square meters at the back, plus two parking spaces and a storage room.

The apartment stayed on the market for about a month and a half and sold at its listed price. The seller was an investor who had owned it for four years, while the buyers were a young couple working in high-tech.

צח בן בסט, owner of Mor Properties, said the first-floor location did not stop the deal because the apartment had “a lot, a lot of character.” He said the price was supported by the fact that this is “one of the most sought-after buildings in the neighborhood,” along with the large, well-designed apartment, its high construction standard, the two parking spaces, the two balconies and the green view from the windows. He added that the Givatayim market is currently difficult, especially for ordinary new buildings and older properties, with buyers being selective and sellers unwilling to lower prices, which has reduced transaction volume. He also said demand is strongest for small boutique buildings of seven or eight floors, as “maximum reluctance” toward high-rises continues among both younger and older buyers.

Dor Albersman, a partner at the firm, represented both sides in the transaction. The report also listed additional recent second-hand sales from the Israel Tax Authority database in Rehovot, Binyamina, Jerusalem, Sde Yoav, and Yeruham.