How much costs an apartment in Israel?

How much costs an apartment in Israel? The answer to this question could be found in lot of publications and analytical services, but the average values doesn’t say a lot to potential buyer, inexperienced in the stock ticker and the intricacies of the real estate market. As we have repeatedly mentioned, the price of housing depends on the city, region and property type.

Lerner Real Estate Agency has conducted market research, based on information from various Israeli and international resources and properties database of the agency. In our case, we will not attempt to calculate the average price per square meter of living space in Israel, operating with huge amount of data and averaging the meter in the Negev with the meter in Herzliya Pituah. We only consider real prices for second hand apartments in the cities of Israel, which are most popular among buyers from abroad.

Highest prices are of course, in the central region of the country and Tel Aviv. Prices for two-bedroom apartments here reach 1.5 million shekels, and we are not talking about luxury real estate. The cheapest apartments in the area put up for sale for $ 240 – 300 of thousands of shekels, well, the average price is between 800 to 850 thousand shekels. Flats of the most popular format in Israel from 2 to 3.5 rooms in Tel Aviv are on average 1.4 million shekels, prices range from 410 to 2 million or more. Truly, Tel Aviv is a city of fun and money!

In Netanya apartments in 1 – 2 rooms cost from 330 to 900 000. The price for a lager apartment – from 2 to 3.5 rooms, ranged from 400 to 2,500 shekels, the average price for a three-room apartment in Netanya, a 800 – 850 000 shekels.

The level of property prices in Eilat, close to its level in Netanya. Price range for small apartments up to 2 rooms are from 250 to 850,000, the apartments from 2 to 3,5 rooms are sold on average for the 480 – 500 000, with a price range from 300,000 to 3 million shekels. The percentage of luxury real estate in this small town is very high and that this due to the high upper price limit.

In the North Israel real estate prices are somewhat lower than in the center of the country. In Kiryat Shmona 2 rooms can be bought for 150 thousand, but if you wouldn’t like to see a Lebanon border from your window, a minimum of 200,000 shekels should be available to buy for small apartment in Haifa. The upper price level of apartments in this area is determined mainly by fantasy of sellers and reach up to 2 million shekels for 3,5 rooms apartment in Haifa. On average the price in Haifa is around 450 – 500 thousand for the three-room apartment.

In Ashdod, which is also popular among foreign investors, a modest 1,5 – 2 rooms apartment is available in an average for 450 – 500 of thousand shekels, the cheapest option would be around 280,000. Three-room apartment in good condition will cost 300 – 350 thousand shekel minimum. The price for apartments in luxury real estate sector of Ashdod is accordingly, more expensive and reaches up to 2 million shekels.
For our readers that there is little evidence the price specified in NIS, we explain. Dollar exchange rate now stands at 3.63 shekels.