A two-room condominium on the seventh flooring of the Madarin Oriental challenge at 2 Hayarkon Road in Tel Aviv (reverse the previous dolphinarium) was offered in April for NIS 9.79 million, in line with the Israel Tax Authority web site. The deal, for a 79 sq. meter condominium, works out at NIS 123,924 per sq. meter.
At 7 Hayarkon Road, in line with the Madlan web site, an condominium was offered in February for NIS 6.67 million. This deal, for a 53 sq. meter condominium, offers a worth per sq. meter of NIS 125,759. In October 2024, one other condominium within the Mandarin Oriental challenge 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 residences within the new neighborhood by the ocean on the location of what was Sde Dov Airport in north Tel Aviv will fetch, there’s an space that can also be on the primary line from the ocean the place the numbers would have appeared absurd within the not too distant previous.
“The common for offers on Hayarkon Road previously yr has surpassed NIS 130,000,” says actual property appraiser and lawyer Ran Wiernik, a former chairperson of the Actual Property Appraisers Affiliation. “Should you attempt to examine this space with Sde Dov, you notice that it’s merely not the identical product. Hayarkon is far more central than Sde Dov, the ocean is inside strolling distance alongside all the road, the Carmel market is shut by, town heart is shut by. The availability there may be additionally totally different. At any given second there may be normally only one challenge promoting new residences, and it’s a vendor’s market. You can say that it’s virtually a monopoly. Evaluating at present’s costs, Hayarkon is 60% dearer.”
“There are tasks at NIS 150,000”
“There are additionally tasks 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 challenge, for instance, the place by the way all of the residences have been offered. The Herbert Samuel 6-8 luxurious towers fetch these costs, however smaller tasks also can supply the extras that appeal to the posh consumers. Solely very high-end tasks can attain such costs – those who incorporate a lodge, with a swimming pool, on the ocean entrance. Previous, much less refined 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’ll be able to see costs of NIS 100,000 per sq. meter and extra, and in Herzliya Pituah as properly after all. It relies on the challenge, 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 may be very a lot in demand nowadays, and costs are to go well with. There aren’t many bargains, and so the pricing reaches these ranges.”
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“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 all the pieces has been constructed, when there isn’t a lot provide. Once I promote residences 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 in my opinion it can not less than keep at present ranges, due to one issue: abroad residents. Lots of them have come to have a look at residences within the space just lately, primarily from Britain, by the way, partly due to antisemitism, but in addition due to heavier taxation there.
“British Jews who aren’t frightened of the scenario in Israel, who discover it arduous with the rising tide of antisemitism and excessive taxation within the UK, are deciding to return right here, and Hayarkon is one among their most popular areas. They’re searching for 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 primary components producing the demand on Hayarkon Road,” provides Avron. “There was very intense exercise by overseas residents just lately. The scenario in Israel might not be good, however when it isn’t good right here, for Jews abroad it’s even tougher. Antisemitism is on the rise, and so they’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.
