Even Yehuda Housing Lottery Winners Receive Keys to Multi-Million Apartments

Winners of the "Mechir LeMishtaken" (Buyer's Price) housing lottery in Even Yehuda have finally reached the finish line: after winning subsidized apartments back in 2019, a series of bureaucratic delays and hurdles caused the developer, Groupit, to begin construction only in 2013 (note: text refers to historical long timeline, with keys currently being handed out). Today, keys are finally being distributed as the project enters occupancy.

The journey was far from easy. Many residents were forced to rent apartments during the interim years, paying upwards of 300,000 NIS before construction even started, and close to 500,000 NIS by the time keys were handed over. The state will not reimburse these expenses, but residents can take solace in the fact that the project was completed in one of the Sharon region's most desirable locations, situated right between Highway 2 and Highway 4.

Exceptional Returns and Property Values

Even Yehuda is known for extremely high real estate prices, yet lottery winners secured apartments at roughly 10,000 NIS per square meter, in an area where standard market rates exceed 30,000 NIS per square meter. Large 6-room apartments were sold for around 1.53 million NIS, while 3-room apartments started at 812,000 NIS. Today, those same 6-room apartments have tripled in value, fetching around 5 million NIS, while 3-room apartments approach 3 million NIS.

"Winners sat on a gold mine. They live in a high-quality settlement with a strong community, near the American School, while property values skyrocketed far beyond initial expectations."