Ramat Gan Haruzim Neighborhood Sees Record Property Deals at 65,000 NIS per Sq.M.

Ramat Gan's Anna Frank Street boasts a prime location in the Haruzim neighborhood, just north of Bialik Street and within close proximity to the Ayalon Highway. Also known as Shenkar due to the nearby design college, Haruzim is rapidly transforming from a quiet, village-like area into a hub of boutique buildings, green spaces, and urban renewal projects.

Record-Breaking Real Estate Deals

Apartment prices vary significantly across buildings, but new constructions generally range between 48,000 and 53,000 NIS per square meter, depending on the project, floor, and apartment size. A major milestone was reached this year at Anna Frank 9, where a 191-square-meter penthouse on the eighth and top floor sold for a record 11.91 million NIS. This translates to over 62,000 NIS per square meter, excluding a fraction of the expansive terrace. The building is scheduled for completion in 2029.

In the same project, a 65-square-meter three-room apartment on the first floor was recently sold for 3.29 million NIS, exceeding 50,000 NIS per square meter. Meanwhile, a 153-square-meter five-room apartment on the seventh floor fetched 8.26 million NIS, or roughly 54,000 NIS per square meter. A neighboring development offered a garden apartment for 3.36 million NIS; although the 65-square-meter unit is compact, its built-in space value calculates to nearly 52,000 NIS per square meter.

Urban Renewal and Rental Yields

Additional transactions highlight the neighborhood's upward pricing trend. On the adjacent Haruzim Street, a buyer paid 10.6 million NIS for a 163-square-meter, five-room apartment on the eighth floor, reaching 65,000 NIS per square meter for a project slated for 2029 completion. At Anna Frank 13, a 70-square-meter garden apartment was sold for nearly 53,000 NIS per square meter of built space.

"Haruzim is the neighborhood with the highest concentration of urban renewal projects in recent years, yet average apartment prices remain exceptionally high."

Rental prices in the area typically range from 7,000 to 10,500 NIS for 3.5 to 4-room apartments, with newer units featuring reinforced security rooms (mamad) commanding the upper end. New 5-room apartments fetch between 10,000 and 12,500 NIS monthly. For a typical new four-room apartment valued at approximately 5.1 million NIS with a 9,500 NIS monthly rent, the rental yield is a modest 2.2%. Consequently, investors rely primarily on capital appreciation rather than rental income.

Recent Market Transactions

Anna Frank 11: 93 sq.m., 4 rooms, 3rd floor – 4.31 million NIS (46,290 NIS/sq.m.)
Rehovot HaNahar 1: 118 sq.m., 5 rooms, 3rd floor – 6.6 million NIS (55,932 NIS/sq.m.)
Rehovot HaNahar 1: 103 sq.m., 4 rooms, 2nd floor – 5.28 million NIS (51,262 NIS/sq.m.)