Beersheba Neighborhood Defies Housing Slowdown With Rising Prices
Madlan data reveals that Israel's housing market slowdown bypasses several neighborhoods, led by Beersheba's Vav Neighborhood where prices continue to rise and 40% of homes sell at asking price.
Housing prices in Israel are experiencing a general slowdown, yet certain neighborhoods defy this trend. According to recent data from Madlan, prices in specific areas—particularly in the periphery—remain remarkably resilient, showing minimal declines.
The Resilience of Vav Neighborhood in Beersheba
Topping the list of areas with the lowest price drops is the Vav Neighborhood in Beersheba, where prices are actually rising against the market trend. Approximately 40% of apartments here are sold at the full asking price set by the seller. However, liquidity remains a challenge, particularly for older units lacking a fortified residential room (mamad), with properties averaging 149 days on the market.
In neighborhoods where apartments cost only hundreds of thousands of shekels, sellers post prices that leave very little room for negotiation. A reduction of 50,000 NIS on a 650,000 NIS property represents a significant percentage, yet the absolute sum remains relatively low.
Three-room apartments in Vav Neighborhood currently trade between 700,000 NIS and 750,000 NIS. Market data indicates that average discounts in this area hover around a modest 20,000 NIS, as buyers recognize the uniform pricing structure.
Peripheral Markets and Central Exceptions
Following Beersheba, neighborhoods like Hatserot HaMoshavot and Rehovot HaHadasha in Rehovot exhibit similar price resilience. In Hatserot HaMoshavot, nearly 27% of apartments achieve their full asking price, while average discounts across both Rehovot neighborhoods remain under 3%, roughly 70,000 NIS to 75,000 NIS per transaction.
Additional areas maintaining stable valuations include:
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Neot HaShikma in Sderot, where apartments sell in under two months with average discounts of 45,000 NIS.
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Beit BaPark in Or Yehuda and Ramat HaKramim in Ashkelon.
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Psagot Apek in Rosh HaAyin, HaRakafot in Rishon LeZion, Hadar Ganim in Petah Tikva, and Netivot West.
While average discounts in these locations stand slightly above 3%—amounting to roughly 70,000 NIS—some high-priced markets see larger nominal drops. For instance, in Or Yehuda, average absolute discounts reach 91,000 NIS due to higher baseline property values, while in Ramat HaKramim in Ashkelon, 12.5% of properties sell at full asking price.
