This year, instead of summing up the year in the luxury housing market, “Globes” lists the most expensive deals in Israel’s 10 biggest cities. In the comparison between the cities, Jerusalem surprised this year, by recording the biggest deals in Israel, while Tel Aviv was in second place, by a large margin. However, since deals and especially luxury transactions, are reported late to the Israel Tax Authority, the picture may yet change.
Jerusalem: Two properties sold for more than NIS 60 million
In Jerusalem in 2024 there have been 17 deals in which homes have been sold for NIS 15 million or more. The biggest deal in Israel’s ten biggest cities was at 1 Dubnov Street in the Villa Sherover complex where an eight-room, 437 square meter apartment with a 234 square meter roof area was sold for NIS 62 million.
Close to the Jerusalem Theater, the Van Leer Institute and the President’s Residence in Talbieh, the buyers are foreign residents. The apartment was designed by Jerusalem’s Yoma Architects. Villa Sherover was built in 1954 and the new project includes two six floor buildings joined together. Yoma says that the design serves a double purpose: “Complete preservation of the historic Villa Sherover and construction of new buildings that respect the architectural principles of the villa while creating exceptional quality in the important urban space that surrounds it.”
Also in Jerusalem, an apartment in a new project at 1 Basel Street was sold for NIS 60 million. Most of the expensive deals in the city were for between NIS 20 million and NIS 29 million.
Tel Aviv: 309 square meters on the 31st floor for NIS 42 million
In Tel Aviv more than 50 deals were recorded in 2024 of more than NIS 15 million. The biggest housing deal in the city was for a house in Afeka, which was sold for NIS 49 million. According to the Tax Authority the 676 square meter house, which was built in 2011 and has parking for two cars, is at 10 Yoav Street.
Three other deals for more than NIS 40 million were signed in Rothschild 10 tower, a project being built by Tidhar and expected to be occupied next year. The most expensive of them is a 5-room 309 square meter apartment, on the 31st floor, which was sold in August for NIS 47 million. Two other similar apartments were sold for NIS 45 and NIS 42 million. The first ten floors of the building will house a 140-room hotel with, and the floors above will contain 50 residential apartments. The building is located between Rothschild, Herzl and Lilienblum Street, and the complex also includes five buildings for conservation.
Haifa: Average price of NIS 4 million in exclusive neighborhood
In Haifa, housing prices have risen by 11% in just one quarter of 2024 but the expensive segment of the market in the city is very limited. There was just one deal in Haifa over NIS 10 million – the sale of a house at 7 Hof Hashinhav Street in Denya. The seven room, 360 square meter house was sold for NIS 10 million. The house has parking for two cars. According to Madlan data the average price of a home in Denya is NIS 4 million and there were only eight deals in the neighborhood in 2024.
Rishon Lezion: A house in Nahlat Yehuda sold for NIS 12.5 million
In Rishon Lezion there were only two housing deals for more than NIS 8 million in 2024. In one of the deals a 400 square meter, five-room semi-detached house with parking for two cars in Ortal Street was sold for NIS 8.1 million. There was an even bigger deal in the Nahlat Yehuda neighborhood on Avraham Zvi Huberman Street where the Tax Authority reports a house was sold for NIS 12.5 million. No additional details were provided.
Petah Tikva: A house in Kfar Ganim sold for NIS 12 million
One of the most surprising expensive housing deals in 2024 was in Petah Tikva at 8 Partizanim Street in Kfar Ganim Aleph where a 428 square meter, 11-room house with a 576 square meter yard and two parking spaces was sold for NIS 12.392 million. This was the most expensive deal in the city over the past five years although according to Madlan the deal reflects a price of NIS 29,000 per square meter, only slightly above the average of NIS 27,000 per square meter in the city.
Netanya: NIS 37 million paid for penthouse in Briga Towers
In Netanya, there were eight deals worth more than NIS 10 million in 2024 including an apartment in Briga Towers at 5 Ehud Manor Street in Ir Yamim, which was sold for NIS 37 million. The 497 square meter, five-room penthouse apartment is on the 33rd floor near the seafront. In November 2023, another penthouse in the project was sold for NIS 36.6 million.
Ashdod: A five-room, 29th floor apartment near the sea sold for NIS 8 million
At 1 Egoz Street a 236 square meter, five-room, fifth floor new apartment with a 133 square meter roof area was sold for NIS 9 million. The second most expensive apartment sold in Ashdod was at 5 Hadekel Street near the sea. In this deal a 455 square meter, five-room apartment on the 29th and top floor was sold for NIS 8 million.
Bnai Brak: A top floor 160 square meter apartment was sold for NIS 5 million
Over the past three years no particularly expensive deals have been reported in Bnai Brak. The most expensive deal in the city was at 10 Admor Meradzamin Street where a five room, 160 square meter, sixth floor apartment with parking was sold for NIS 5 million. Two other deals at similar prices were reported in Bnai Brak in 2024.
Beersheva: A house in Ramot Daled for over NIS 5 million
The only deal in Beersheva for more than NIS 5 million in 2024 was the purchase of a house at 3 Hatmuna Street in Ramot Daled. The six-room, 327 square meter house on a 750 square meter lot was sold for NIS 5.3 million. The house is a 15 minute walk from the University railway station.
Holon: An apartment in a TAMA project for NIS 8 million
In Holon in 2024 there were 11 deals for more than NIS 5 million. The most expensive deal was the sale of a 168 square meter, six-room, ninth floor apartment at 17 Uri Almog Street in the 370/heh neighborhood for NIS 7.5 million.
In another deal, an old house slated for demolition on a 2,000 square meter lot was sold for NIS 8 million.
Published by Globes, Israel business news – en.globes.co.il – on December 29, 2024
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