This year, instead of summarizing the year in the luxury housing market, Globes lists the most expensive deals in Israel’s 10 largest cities. In comparing cities, Jerusalem surprised this year by recording the largest deals in Israel, while Tel Aviv came in second place by a large margin. However, since deals, especially luxury transactions, are reported late to the Israel Tax Authority, the picture may yet change.
Jerusalem: Two properties sold for more than 60 million shekels
In Jerusalem in 2024, 17 deals were completed in which homes were sold for 15 million shekels or more. The largest transaction in Israel’s top ten cities was on Dubnov Street 1 in the Villa Sherover complex where an eight-room apartment with an area of 437 square meters and a surface area of 234 square meters 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-based Yoma Architects. Villa Scherover was built in 1954 and the new project includes two six-storey buildings connected to each other. Yuma says the design serves a dual purpose: “to fully preserve the historic Villa Shirover and build new buildings that respect the architectural principles of the villa while creating an exceptional quality in the important urban space surrounding it.”
Also in Jerusalem, an apartment in a new project on Basel 1 Street was sold for NIS 60 million. Most of the expensive deals in the city were between 20 million shekels and 29 million shekels.
Tel Aviv: 309 square meters on the 31st floor for NIS 42 million
In Tel Aviv, more than 50 deals were recorded in 2024, worth more than 15 million shekels. The city’s largest housing deal was for a house in Avika, which sold for NIS 49 million. According to the IRS, the 676-square-meter house, which was built in 2011 and has parking for two cars, is located on 10 Yoav Street.
Three other deals worth more than NIS 40 million were signed in Rothschild Tower 10, a project that Tidhar is building and is expected to be occupied next year. The most expensive is a five-room apartment with an area of 309 square metres, on the 31st floor, which was sold in August for NIS 47 million. Two similar apartments were sold for 45 and 42 million shekels. The first ten floors of the building will include a hotel with 140 rooms, and the floors above them will contain 50 residential apartments. Located between Rothschild Street, Herzl Street and Lilienblum, the complex also includes five conservation buildings.
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Haifa: The average price is 4 million shekels in the Al-Husari neighborhood
In Haifa, housing prices rose by 11% in just one quarter of 2024, but the expensive part of the market in the city is very limited. There was only one deal in Haifa worth NIS 10 million, the sale of a house at Hof Hashenhav 7 Street in Denia. The seven-room, 360-square-meter house was sold for NIS 10 million. The house has parking for two cars. According to Madalan data, the average house price in Denia is NIS 4 million, and there were only eight transactions in the neighborhood in 2024.
Reason: Selling a house in Nahaleh Yehuda for 12.5 million shekels
In Rishon Lezion, there were only two housing deals worth more than NIS 8 million in 2024. In one deal, a 400-square-meter five-room semi-detached house with parking for two cars on Ortal Street was sold for NIS 8.1 million. There was an even bigger deal in the Nahaleh Yehuda neighborhood on Avraham Zvi Huberman Street, where the tax authority reported that a house was sold for NIS 12.5 million. No additional details were provided.
Petah Tikva: A house in Kafr Ghanem was sold for 12 million shekels
One of the most surprising expensive housing deals of 2024 was in Petah Tikva at Partizanim Street 8 in Kfar Ghanem Alif, where a 428-square-meter house with 11 rooms, 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 in the past five years, although, according to Madlan, the deal reflects a price of NIS 29,000 per square meter, which is slightly higher than the average of NIS 27,000 per square meter in the city.
Netanya: He paid 37 million shekels for a penthouse apartment in Briga Towers
In Netanya, there were eight transactions worth more than NIS 10 million in 2024, including an apartment in Briga Towers at 5 Ehud Manor Street in Ir Yamim, which sold for NIS 37 million. The five-room penthouse apartment of 497 square meters is located on the 33rd floor near the waterfront. In November 2023, another penthouse in the project was sold for NIS 36.6 million.
Ashdod: A five-room apartment on the 29th floor near the sea was sold for 8 million shekels
On Egoz I Street, a new apartment on the fifth floor, consisting of five rooms, with an area of 236 square meters and a surface area of 133 square meters, was sold for NIS 9 million. The second most expensive apartment sold in Ashdod was on Hadkel Street No. 5 near the sea. In this deal, a five-room apartment of 455 square meters on the 29th floor and top floor was sold for NIS 8 million.
Bnei Brak: A top floor apartment with an area of 160 square meters was sold for NIS 5 million
Over the past three years, no expensive deals have been reported in Bnei Brak. The most expensive deal in the city was at 10 Admor Meradzamin Street, where a 160-square-meter, five-room sixth-floor apartment with parking was sold for NIS 5 million. Two more deals with similar prices have been announced in Bnei Brak in 2024.
Beersheba: A house in Ramot Dalad worth more than 5 million shekels
The only deal in Beersheba for more than NIS 5 million in 2024 was the purchase of a house on Hatmona Street 3 in Ramot Dalad. The six-room house of 327 square meters on a plot of 750 square meters was sold for NIS 5.3 million. The house is located a 15-minute walk from the University Railway Station.
Holon: An apartment in the Tama project for 8 million shekels
In Holon in 2024, 11 deals worth more than 5 million shekels were completed. The most expensive deal was the sale of a ninth-floor apartment with an area of 168 square meters and consisting of six rooms at 17 Uri Almog Street in the 370/Hai district for NIS 7.5 million.
In another deal, an old house scheduled to be demolished on an area of 2,000 square meters was sold for 8 million shekels.
Published by Globes, Israel Business News – en.globes.co.il – on December 29, 2024
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