A two-room house on the seventh ground of the Madarin Oriental mission at 2 Hayarkon Road in Tel Aviv (reverse the previous dolphinarium) was offered in April for NIS 9.79 million, based on the Israel Tax Authority web site. The deal, for a 79 sq. meter house, works out at NIS 123,924 per sq. meter.
At 7 Hayarkon Road, based on the Madlan web site, an house was offered in February for NIS 6.67 million. This deal, for a 53 sq. meter house, offers a value per sq. meter of NIS 125,759. In October 2024, one other house within the Mandarin Oriental mission offered for NIS 13.38 million, or NIS 132,475 per sq. meter.
These are simply three examples. At a time when the actual property trade, definitely in Tel Aviv, is principally asking itself what costs flats within the new neighborhood by the ocean on the positioning of what was Sde Dov Airport in north Tel Aviv will fetch, there’s an space that can be on the primary line from the ocean the place the numbers would have appeared absurd within the not too distant previous.
“The typical for offers on Hayarkon Road prior to now yr has surpassed NIS 130,000,” says actual property appraiser and lawyer Ran Wiernik, a former chairperson of the Actual Property Appraisers Affiliation. “If you happen to attempt to examine this space with Sde Dov, you notice that it’s merely not the identical product. Hayarkon is rather more central than Sde Dov, the ocean is inside strolling distance alongside your complete road, the Carmel market is shut by, the town middle is shut by. The provision there may be additionally totally different. At any given second there may be normally only one mission promoting new flats, and it’s a vendor’s market. You may say that it’s virtually a monopoly. Evaluating as we speak’s costs, Hayarkon is 60% dearer.”
“There are initiatives at NIS 150,000”
“There are additionally initiatives on this road for which common costs are over NIS 150,000 per sq. meter,” provides Oren Katz, a realtor who specializes within the luxurious finish of the market, with an emphasis on Tel Aviv. “The Mandarin Oriental mission, for instance, the place by the way all of the flats have been offered. The Herbert Samuel 6-8 luxurious towers fetch these costs, however smaller initiatives can even supply the extras that entice the posh patrons. Solely very high-end initiatives can attain such costs – those who incorporate a lodge, with a swimming pool, on the ocean entrance. Outdated, much less subtle buildings on the road are priced within the vary of NIS 70,000 to NIS 80,000 per sq. meter.”
Yehuda Avron, a realtor who additionally works within the luxurious market, says that these costs are attribute of the entire coastal strip. “At Jaffa Port too, you possibly can see costs of NIS 100,000 per sq. meter and extra, and in Herzliya Pituah as nicely after all. It is determined by the mission, the property, the diploma of luxurious they provide. Costs can begin at NIS 15 million, and attain NIS 100 million or extra. Rents on Hayarkon Road, on the ocean entrance, attain as a lot as NIS 60,000 month-to-month. Hayarkon Road could be very a lot in demand as of late, and costs are to swimsuit. There aren’t many bargains, and so the pricing reaches these ranges.”
RELATED ARTICLES
“Diplomats’ households and abroad residents”
“These costs mirror the market,” says Katz. “That is what occurs when there are not any reserves of land, when every little thing has been constructed, when there isn’t a lot provide. After I promote flats at costs like these, I too increase an eyebrow, however that’s what the market decides. I don’t know if we’ll attain NIS 200,000 per sq. meter, however for my part it would a minimum of keep at present ranges, due to one issue: abroad residents. A lot of them have come to have a look at flats within the space not too long ago, primarily from Britain, by the way, partly due to antisemitism, but additionally due to heavier taxation there.
“British Jews who aren’t terrified of the state of affairs in Israel, who discover it onerous with the rising tide of antisemitism and excessive taxation within the UK, are deciding to come back right here, and Hayarkon is certainly one of their most popular areas. They’re searching for the town of Tel Aviv. Abroad residents are altering the principles of the sport, and that’s how costs have gotten to the place they’re.”
“Abroad residents and diplomats’ households are the principle elements producing the demand on Hayarkon Road,” provides Avron. “There was very intense exercise by overseas residents not too long ago. The state of affairs in Israel will not be good, however when it isn’t good right here, for Jews abroad it’s even more durable. Antisemitism is on the rise, they usually’re searching for a refuge.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on July 22, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
