Kiryat Motzkin Apartment Sold for 1.15 Million Shekels

On Derech Akko in Kiryat Motzkin, a 3-room apartment measuring 70 sq. m was sold for 1.15 million shekels. Located on the fourth floor of a four-story building, the unit is divided into two separate housing units currently rented out for a combined 4,500 shekels per month. The owners have already signed a contract with a developer to advance a Pinui-Binui urban renewal project.

The property was initially listed at 1.35 million shekels and remained on the market for approximately four months. The sellers were investors looking to liquidate the asset after several years, while the buyers are a young couple from Harish seeking a real estate investment.

"In Haifa, there are opportunities in Hadar"

Shlomi Zino, an Anglo Saxon Krayot franchisee who brokered the deal, noted: "The buyers had a budget of about 1.2 million shekels. Our goal was to create cash flow to cover the mortgage and ensure future capital appreciation. They chose not to invest in Harish, believing that prices there are trending downward."

"I have been in this industry for 21 years. We are currently seeing a significant slowdown in transaction volume. In Haifa, for example, the time on market is very long. Older apartments without a MAMAD (protected space) are difficult to sell, and prices in buildings with urban renewal potential have become too high for investors. For those insisting on Haifa, there are opportunities in Hadar. For those seeking appreciation through urban renewal, the Krayot are a better bet: in Kiryat Haim, you can find 3-room apartments for about a million shekels, and in Kiryat Bialik, even less," Zino added.

Chelachao Tekelia represented the buyers.

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Recent Second-Hand Property Deals

Beit Shemesh:

• Hida St.: 3-room apartment (89 sq. m, 5th floor) — 2.01 million shekels.

• Rafael Alankoua St.: 3-room apartment (77 sq. m, 2nd floor) — 1.5 million shekels.

• Roi Klein St.: 3-room apartment (90 sq. m, 4th floor, parking) — 1.95 million shekels.

• Ben Ish Hai St.: 5-room apartment (108 sq. m, 5th floor, parking) — 3.15 million shekels.

Lod:

• Gordon St.: 4-room apartment (108 sq. m, 5th floor, parking) — 1.83 million shekels.

• Shevet Menashe St.: 4-room apartment (102 sq. m, 7th floor) — 2 million shekels.

• Rabbi Ovadia Yosef St.: 3-room apartment (85 sq. m, 7th floor) — 1.6 million shekels.

Beersheba:

• Eshbel Michael St. (Neve Ze'ev): 4-room apartment (107 sq. m, 2nd floor, parking) — 1.22 million shekels.

• Wingate St. (Neighborhood Gimmel): 3-room apartment (62 sq. m, 8th floor) — 780,000 shekels.

• Sha'ar HaGai St. (Neighborhood Tet): 4-room apartment (105 sq. m, 4th floor, parking) — 940,000 shekels.

• Bar Nissan St. (Neve Ze'ev): 4-room apartment (160 sq. m, 5th floor, parking) — 1.71 million shekels.

Kiryat Bialik:

• HaShkedim St.: 4-room apartment (113 sq. m, 1st floor) — 1.62 million shekels.

• Yakinton St.: 5-room apartment (148 sq. m, 7th floor, two parking spots) — 3.42 million shekels.

• Nitzanim St.: 4-room apartment (91 sq. m, 3rd floor) — 1.5 million shekels.

Ness Ziona:

• Herman Meir St.: 3-room apartment (76 sq. m, 3rd floor) — 2.06 million shekels.

All deals are sourced from the Israel Tax Authority.