People are buying property in Israel, even during lockdown — Mabat haShuk October, 2020

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For the past six weeks, the Israeli public has been severely restricted in their movement. Many stores and businesses have been forced to shutter, and real estate agents in Israel have not been permitted to show properties. Yet, despite the limitations and rules of conduct, deals have closed throughout the country as home-buyers and investors have been buying property in Israel during the lockdown.

After reaching a record number of infection and mortality rates, among the highest in the world relative to population size, Israel entered a second lockdown that started on Rosh Hashanah Eve, 18 September. The Health Ministry began lifting restrictions gradually after the end of the Sukkot holiday and will continue to do so depending on the infection rate. Despite the restrictions, many homes in Israel have been sold during this period, and real estate agents are reporting high activity as home-buyers and investors are buying property throughout Israel.

Property purchased during the second lockdown in Israel

The following is a selection of Israel real estate deals that took place during the lockdown. The idea is to give our readers a general idea of property prices in Israel, the residential real estate market, and activities taking place around the country.

Tel Aviv:

A private house, 200 sqm on a 250 sqm plot, built on 4 floors, on Nahum Shadmi Street Tamir Street in the Kfar Shalem neighborhood, was sold for 3,600,000 NIS. A 3-room apartment, 70 sqm with a 12sqm balcony, located on the 15th floor out of 18 floors in Kfir Tower located on Moshe Daya Street in the Kfir neighborhood, was sold for 2,050,000 NIS. (Re/Max Ocean).

buying property in israel
Private home sold in Kfar Shalem, Tel Aviv

Ramat Beit Shemesh:

A 4-room duplex apartment, 128 sqm with a 15 sqm balcony, located on the 5th and top floor on Nahal Soreq, in Ramat Beit Shemesh Aleph, was sold for 1,800,000 NIS. A 5-room apartment that is under construction, 122 sqm with a balcony of 41 sqm, located on the 5th out of 6 floors of a new building in the Ganei Haela project in Ramat Beit Shemesh Aleph, was sold for 2,400,000 NIS. A 4-room apartment that is under construction, 102 sqm with a 29 sqm balcony, located on the 1st out of 8 floors, in Aleph Hachadasha in the new neighborhood of Neve Shamir (Ramat Beit Shemesh Hey) was sold for 1,620,000 NIS (Israel Properties).

Buying property in Israel
New project in Ramat Beit Shemesh Aleph

Jerusalem:

A 3-room apartment, 120 sqm, located on Sderot Ben Tzvi, Shaarei Chessed, was sold for 3, 325,000 NIS (Deborah Michael Homes). A 4-room apartment, 75 sqm, located on the 2nd out of 4 floors, on Olei Hagardom Street, Armon Hanatziv, was sold was for 1,150,000 NIS (Re/Max Vision).

Netanya:

A 5-room apartment, located on the third floor on Uzi Hitman Street, Ir Yamim, was sold for 2,550,000 NIS. A 5-room apartment, located on the 14th floor of the Savyon Towers in North Netanya, was sold for 2,350,000 NIS (Home in Israel). A 7-room villa, 200sqm with a 70 sqm garden, located on Hadalyot Street, Ramat Poleg, was sold for 3,550,000 NIS (Maxine Marks – Luxury Property in Israel).

buying property in Israel
House in Ramat Poleg, Netanya

Modi’in

A 5-room garden apartment, 101 sqm with a 30sqm yard, located on the ground floor on Inbar Street in the Kaiser neighborhood, was sold for 2,430,000 NIS (Bayit Kal Nadlan).

Ma’ale Adumim

A 2.5-room ground-floor apartment, 65 sqm, with an option to add a small garden/balcony, located on Hagivim Street, Klei Shir nieghborhood, was sold for 1,120,000 NIS (Re/Max Atid).

buying property in Israel
Apartment in Ma’ale Adumim

Ashdod

A 4-room apartment, 145 sqm, with a balcony, located on the 5th floor out of 9 floors on Citron Street, 17th Quarter, was sold for 1,940,000 NIS. A 6-room duplex-penthouse, 201 sqm, with two balconies, the only apartment located on the 4th floor, in a building on Kineret Street, 11th Quarter, was sold for 2,800,000 NIS (Re/Max Together).

The office mentioned represented either the buyers, the sellers, or both parties. The contents of this article are designed to provide the reader with general market information and not to serve as professional advice for a particular transaction. Readers are advised to obtain advice from qualified professionals prior to entering into any transaction.

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