Caesarea Neot Golf Apartment Sells for 1.885 Million Shekels
A 2-room apartment in the Neot Golf project in Caesarea sold for 1.885 million shekels, reflecting strong demand and a 3.5% to 4% rental yield in the gated community.
A 2-room, 45-square-meter apartment in the Neot Golf project in Caesarea was recently sold for 1.885 million shekels. Located on Rothschild Boulevard in the southwestern corner of Caesarea, the project is a gated community featuring two indoor swimming pools, a gym, lawns, a squash court, and a mini-golf course.
Project Background and History
Built in the 1990s by Azorim, the project spans two stages comprising a total of 500 housing units (280 in the northern section and 220 in the southern section). Building permits were issued between 1993 and 1998. The project offers various property types, ranging from 45-square-meter 2-room units to 90-square-meter 4-room duplexes.
Prices for standard 2-room apartments reach up to 2 million shekels, while larger 4-room units and garden apartments sell for 3 million shekels and above. Rental yields currently stand at an attractive 3.5% to 4% gross.
Market Activity and Regulations
Despite original zoning definitions restricting units to vacation housing rather than permanent residence, local brokers note that many people live there year-round. Since the beginning of 2024, about 40 transactions have been recorded, reflecting a vibrant real estate market.
"I wouldn't define the apartments in the project as vacation homes. Many people live here all the time, and there are long-term tenants," says Ayelet Weiss Kalmanovitch from Montefiore agency.
