Israeli Real Estate: Peripheral Prices Lag While Central Deals Emerge
Israeli real estate data shows affordable peripheral cities like Afula struggling to draw buyers, while central locations like Lod and Ramla offer surprisingly competitive apartment prices.
The Israeli real estate market continues to show mixed trends, with affordable peripheral cities struggling to attract buyers despite low prices, while central areas present unique opportunities. In Afula, for instance, property prices remain roughly 35% below the national average. A 130-square-meter 4-room apartment on Wolfson Street recently sold for 1.53 million shekels. Despite being a lower-cost option featuring an elevator, secure room (Mamad), and parking, public demand has not surged toward the northern city.
Affordable Options in Central Locations
At the same time, buyers looking closer to the center can find surprisingly competitive pricing in cities like Lod and Ramla. A 3-room apartment measuring approximately 60 square meters on Aryeh Rubin Street in Lod's Mishmar Nof neighborhood was recently sold for 1.27 million shekels. Meanwhile, in Ramla, an 86-square-meter 3-room apartment on Moshe Levi Street in Neot Shamir fetched 1.87 million shekels.
Despite new developments in Lod, such as the International Quarter and Ben Shemen neighborhood, demand has slowed down as supply has jumped significantly, leaving numerous apartments still available on the market.
Recent Transactions Across the Country
Real estate agency data highlights several notable transactions completed recently across various Israeli cities:
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Beer-Sheva: An 89-square-meter 4-room apartment on Yitzhak Rager Street in neighborhood Dalet sold for 1.08 million shekels, while a 71-square-meter 3-room apartment on Bekhor Sheetrit Street in neighborhood Yud-Alef went for 770,000 shekels.
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Shoham: A 136-square-meter 4-room penthouse on Maccabim Street featuring an 80-square-meter balcony was sold for 3.8 million shekels.
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Acre: A 72-square-meter 3-room apartment on Ha-Ashel Street sold for 880,000 shekels.
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Beer Yaakov: A 104-square-meter 4-room apartment on Hoshen Street with a 35-square-meter balcony fetched 2.66 million shekels.
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Rehovot: A 3-room second-hand apartment on Max Shine Street (88 square meters) sold for 2.15 million shekels, a 5-room apartment on Derech Yavne 67 (127 square meters) sold for 3.17 million shekels, and a 4-room apartment on Weizmann Street (110 square meters) went for 2.35 million shekels.
