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Jerusalem / Israel
Israel Property News
1- New Project in Talpiot #1413
3- 25 New Apartments - #1423
A TAMA 38 project - on 3 storeys
Beautiful Cottage #1324
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Jerusalem Suburban Town #1419
Just 20 minutes from Jerusalem, a religious and secular community offers a range of housing from semi -detached homes to apartments -garden, penthouses and everything in between.
HOME IN TEVERIA
Overlooking the Kinneret Lake #1406
NEW PROJECT NOT TO BE MISSED!!! 3-4 bedrooms with a succah balcony, parking and storage room facing the Kinneret. Sizes range from 100- 130 sqm. Balconies from 11- 102 sqm. Amazing prices from NIS 850,000- 1,250,000.
CHECK OUT OUR LONGTERM RENTALS!
Eiferman Properties Newsletter No. 50 Chanukah 5772/December 2011
Chanukah Sameach from Jerusalem
I. Update on Real Estate Prices
II. Residential Properties (Jerusalem & Tel Aviv/Jaffa)
III. Commercial Properties
Update on Real Estate Prices
Real estate executives predicted price trends for real estate in Israel (throughout the country, and not specifically in Jerusalem) in a November 2011 survey by the consulting firm Deloitte Brightman Almagor Zohar. On average, they foresee that prices may go down about 10%. Real estate prices will not drop to the level of 2007. According to the industry experts surveyed, anyone who hopes that they will is looking through “rose-colored glasses.”
Minister of Housing Ariel Attias stated that he believes the solution to the high price of housing in Israel is to increase the supply of residential properties. He is pinning his hopes on the rise in the number of new construction beginnings, which should result in a significantly higher number of new residential units in the market in 2-3 years time.
However, with the pressure to reduce the price of new construction, contractors will not make their 25% profit until the price of land and the cost of building go down. Therefore they are reluctant to purchase land and to build. This will continue to result in a shortage of new residential properties.
In Jerusalem, prices are somewhat flexible, depending however on the neighborhood and the specific property. There is a shortage of properties in the most requested areas, such as Rechavia, Talbieh, Shaarei Chesed and the German Colony. In the charedi neighborhoods, prices are also generally high, but certain charedi neighborhoods are less expensive than others.
Buyers who are closed out of the Rechavia area due to price (a 3-bedroom apartment costs over $800,000) are finding other neighborhoods where they can get more for their money. As more people begin to purchase in those neighborhoods, prices are going up and sellers are becoming less flexible.
We have many requests from clients for properties that are good investments (client definition varies) in both residential and commercial areas. Recently, residential investment clients have come in with $300,000-$600,000 budgets, open to a number of neighborhoods, requesting that there be a tenant to cover the mortgage payment and the apartment’s running expenses. In less than a week, after our agents have done a market search and started to set up appointments, at least 40% of the apartments selected were already at the lawyers. Apartments priced up to $1,000,000 are selling faster than the more expensive homes.
There are projects (new developments) with available apartments that are excellent buys. Please contact us for more information. The project in the city of Tsfat has been put on hold due to the owner’s sudden serious illness. We will contact those who expressed interest in the project as soon as it is moving forward again. There are new projects in the Netanya and Teveria areas if you are looking for a home up north.
Many overseas buyers who have come to Israel to see what is available are hesitant to buy what they like, hoping that in the next few months prices will come down and they will save themselves money. Based upon clients’ experiences, when they return to Israel, the apartments they liked have been sold and what is available is not what they want. Worse still, the prices will not have gone down and in certain neighborhoods the prices will even have increased.
Window shopping now may cost you more later on!
This Chanukah/Year-end Newsletter presents a variety of properties, residential and commercial, offered by serious sellers. Some of these have appeared in previous newsletters and will serve as reminders.
See our Jerusalem Map to locate neighborhoods mentioned.
Residential Properties - Jerusalem
Looking for an investment?
A new 4-storey building with two 2-bedroom rental apartments, one on each of the 2 lower floors, plus a 3-bedroom duplex penthouse.
These apartments, on a tree-lined gentrified street in a very sought-after neighborhood, are ideal for students, singles and couples. 2 identical buildings will be added on the side of this building and one can therefore create larger apartments in the future.
Asking Price: NIS 6,000,000.
Another investment property!
This 4-storey corner property is in the center of town with possible building rights. Currently four 2-bedroom apartments, each rented for NIS 3500 per month.
Asking Price: NIS 4,500,000.
A beautifully renovated 60 sqm 2 bedroom apartment in Rechavia, only 5 steps up with 2 bathrooms, central A/C AND a private entrance.
Asking Price: NIS 1,990,000.
4. SHAAREI CHESED/RECHAVIA
In the Wolfson Towers, a spacious 150 sqm (net), 3+ bedroom apartment.
The huge living/dining area + den face the Knesset, with breathtaking views from all windows. The apartment is very bright and sunny, as it is on a high floor.
Two Shabbat elevators, central A/C, parking & storage room.
Asking Price: $1,000,000!!!!
5. NEVE SHAANAN
A very quaint private neighborhood bordering Nayot, between Kiryat Moshe and Kiryat Shmuel and close to south Rechavia. The orthodox synagogue is attracting many families looking for a village atmosphere close to Rechavia and Old Katamon.
5A) This lovely renovated split level 107 sqm 4 bedroom apartment has very high ceilings. The large windows bring a lot of light to this apartment, surrounded by garden. A very unique and attractive property in a quiet location .
Asking Price: NIS 3,280,000.
5B) Just a hop, skip and a jump from Rechavia, in a pastoral setting near the Israel Museum, a beautifully designed, spacious 6 room 190 sqm unit with private entrance. Features an expansive living room overlooking the Botanical Gardens, a media room + four bedrooms (including a master bedroom), all with radiant floor heating. High-end finish and 90 sqm landscaped garden, including a wood deck and patio. Asking Price: NIS 4,950,000.
6. OLD KATAMON
This 100 sqm 2 bedroom apartment is on the 1st floor. In an excellent location, close to Rechavia, Talbieh and the German Colony. On a quiet street near transportation and shopping. For renovation.
Asking Price: NIS 1,700,000.
A south neighborhood near the Greek and German Colonies, Old Katamon and San Simon that is becoming gentrified and upgraded with new construction. Because of the location near the high priced neighborhoods, many young couples and families are buying here. It has become a desirable rental neighborhood as well.
7A) This apartment has been expanded to 3 bedrooms, a big LR and kitchen. This area is conveniently located by car close to the Begin Highway and the Malcha mall.
Asking Price: NIS 1,500,000.
7B) A lovely renovated 75 sqm. 2 bedroom apartment with a permit for a succah balcony, on the 3rd floor.
Close to Old Katamon, Greek Colony and San Simon.
Asking Price: NIS 1,050,000
7C) A renovated 75 sqm 2 bedroom apartment on the first floor with a spacious succah balcony. Located close to the women’s learning center Matan and the Eretz Hatzvi yeshiva. The surrounding neighborhoods are the Greek and German Colonies, Old Katamon and San Simon.
Asking Price: NIS 1,220,000.
A neighborhood that has undergone gentrification and borders the City Center. A very short walk to the Mamilla promenade and complex , Talbieh and the hotels on King David Street. This neighborhood connects the neighborhoods of Maalot Dafna, Arzei Habira and Mea Shearim to the Old City.
A new high standard luxury project with occupancy slated for the end of 2012. There are 2-4 apartments on every floor. Each apartment will be custom designed at no extra cost. On each floor, there is a safe room designed for the needs of the residents to be used as a library, Kiddush room, etc. There are a gym and a coffee shop in the building, and hotel service is an option. The sizes of the apartments vary, starting from 70 sqm.
The price is $10,000 per sqm.
9. OLD CITY
A 140 sqm, 4 bedroom cottage with a 10 sqm courtyard. This unique home has a spacious LR and kitchen plus a storage room. Located near the Kotel.
Asking Price: $ 1,500,000 at a rate of $1 = NIS 3.76. (Price is flexible)
Are you looking for a lovely spacious apartment with a lot of outdoor space and an amazing view of Jerusalem? This home has it all!
Wow! Spacious and renovated to an extremely high standard, this 200 sqm luxury apartment has 3 bedrooms, including a huge master bedroom with a walk-in closet, plus a private bathroom with a Jacuzzi. A stunning 380-sqm L-shaped terrace surrounds the apartment. There is plenty of space for a simcha, with a view that will dazzle your guests!
Although this home is in an apartment building, its position creates the feeling of a single-family home with lots of privacy. There are a 2 parking spaces and a storage room.
Asking Price: NIS 5,700,000. Reasonable offers considered.
11. RAMAT BEIT HAKEREMA new Jerusalem neighborhood located near Bayit V'Gan and a short walk to Kiryat Moshe
11A) A renovated 110 sqm 3 bedroom apartment on the 1st floor with a beautiful 130 sqm garden. The apartment features a spacious living room, 2 sinks in the kitchen, a large storage room with windows, and parking for 2 cars.
This 4.5-year-old building has an elevator. Located close to synagogues and central shopping center.
Asking Price: NIS 2,750,000.
11B) A renovated 112 sqm 3 bedroom apartment on the 2nd floor with an elevator (the only apartment on its floor). The apartment features a succah balcony, a storage room and parking.
Asking Price: NIS 2,650,000.
12. HAR HOMA
A new south Jerusalem neighborhood that attracts young families. Located near Talpiot and Baka
A beautifully renovated 153 sqm 4 bedroom penthouse. The apartment features 2 succah balconies, 2 parking spaces and a storage room. The building has an elevator and is located on the highest spot in Har Homa with a beautiful open view.
Asking Price: NIS 1,995,000.
Residential Properties - Tel Aviv/Jaffa
13. TEL AVIV
13A) In the Montefiore neighborhood of Tel Aviv, a new construction project containing a total of 10 units -- eight 2-bedroom units (66 sqm net) with 5-sqm balcony, and two duplex penthouses.
Prices for the 2-bedroom units are NIS 1,300,000-1,450,000.
13B) In a new building in south Tel Aviv, a beautiful 3 bedroom 90-sqm duplex with a beautiful view to the sea. There are 2 succah balconies, of 8 and 40 sqm, one on each level. This is an elevator building with parking.
Asking Price: NIS 5,600,000 negotiable.
A special new project in Jaffa’s most desirable neighborhood. Five minutes from the beach, 10 minutes from a shopping center. Commercial ground floor + 5 residential floors. Total 34 apartments. Completion in 2013.
Prices: 1,400,000 for a 34-sqm unit to 13,000,000 for a penthouse.
15. A restaurant for rent or sale. 110 sqm. In an excellent location.
Rental Price: NIS 8500 per month. Sale Price: NIS 300,000 flexible.
16. Two North African restaurants
16A) 150 seats, for rent. NIS 20,000 per month flexible.
16B) A family business for many, many years, well-known throughout Israel. The owner is planning to retire. Price only by negotiation.
17. Agricultural lots in the north for sale. A long term investment. Prices range from NIS 135,000-250,000 per dunam.
If you have an apartment that you are thinking of selling, please contact us -- we have buyers with cash in hand!
Please send us your real estate questions and let us know when you will be coming to Israel.
Wishing you and your family a Chanukah Sameach!
Properties | Eiferman Properties Ltd. +972-2-651-4030
Shlomo Maoz |