Foreign Buyers Set New Price Record With $4.3M Jerusalem Apartment Purchase

A record-setting real estate transaction took place in the Talpiot neighborhood of Jerusalem, where foreign buyers purchased three apartments on the 24th floor of the Pardes Heights project for a combined 15 million shekels (approximately $4.3 million). These three units will be merged into a single 277-square-meter apartment. The deal, finalized last month, significantly exceeds recent local sales, which typically ranged between 8 and 13 million shekels.

Pardes Heights, located at 31 Pierre Koenig Street near the Baka neighborhood, is a 30-story tower with 145 residential units. It is part of a broader urban renewal plan transforming the area from an old industrial zone into a mixed-use urban district featuring residential, commercial, and public spaces. The building, currently under construction, will offer amenities such as a swimming pool, gym, meeting rooms, and a rooftop sukkah and kitchen, with occupancy expected in the first half of 2029.

The project is developed by the real estate groups Mimusim and NBS, with marketing handled by Platinum Realty Group, owned by Ivy Dayan. According to data from the Israel Tax Authority and local real estate analyses, the most expensive previous sale on the same street was a 161-square-meter, five-room apartment on the 21st floor of Pardes Heights, sold for 9.37 million shekels.

NBS specializes in urban renewal and large-scale residential projects across Israel, led by CEO Ilon Yadin. Mimusim, founded in 2014 and owned by Yechiel Fuchs, focuses on real estate development and urban renewal primarily in Jerusalem and surrounding areas. This transaction highlights the growing demand and rising prices in Jerusalem's evolving real estate market.