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New section: Hatikva neighborhood. Is Bonanza hiding in Migdal HaEmek? - Walla! Real Estate

2021-07-18T07:38:49.013Z


Is your neighborhood frozen in time and still not enjoying the crazy price increases across the country? New section in Walla! Real Estate will map and examine the neighborhoods and areas in Israel that have been said for years to be more capable. And this time: Kiryat Begin in Migdal Haemek. Has its time finally arrived?


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New section: Hatikva neighborhood.

Is Bonanza hiding in Migdal HaEmek?

Is your neighborhood frozen in time and still not enjoying the crazy price increases across the country?

New section in Walla!

Real Estate will map and examine the neighborhoods and areas in Israel that have been said for years to be more capable. And this time: Kiryat Begin in Migdal Haemek. Has its time finally arrived?

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  • Migdal Haemek

  • Israel Railways

David Wertheim

Sunday, 18 July 2021, 09:02 Updated: 09:38

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Focus on Begin.

Hatikva neighborhood (Photo: Walla !, illustration)

Your neighborhood froze in time and did not enjoy the crazy price increases across the country? Relatives of relatives have purchased a property in the complex and you are wondering if and when it will reach its potential? New section in Walla! Real Estate will map and examine the neighborhoods and areas in Israel that it has been said for years that they are capable of more



.



Migdal Haemek is one of the main localities that were established as part of the government's policy for the Jews of the Galilee after the establishment of the state.

It is a locality whose development until the last five years was slow and was mainly a sleeping locality for employed in the area of ​​Yokneam, Tivon and Haifa - but now with the significant jump and development of the so-called "Silicon Valley of the North" and significant increase in employment opportunities in the area. The light rail in the north that will connect the Galilee landscape with the Krayot and Haifa - all of these are expected to make the new neighborhoods in the locality in particular and the localities in general particularly attractive.

More on Walla!

Are apartments becoming more expensive?

We went out into the field to check prices

To the full article

For a long time not only a tower.

Migdal Haemek Archive (Photo: Walla! NEWS system, Migdal Haemek Municipality Archive)

What to build

In 2017, Migdal Haemek signed an umbrella agreement with the state, according to which the locality's population is expected to grow to about 50,000 in the future.

In 2017, Migdal Haemek signed an umbrella agreement with the state, according to which the locality's population is expected to grow to about 50,000 residents in the future, and as a result, in recent years the development momentum has accelerated both in terms of housing and employment in the area. Most of the planned neighborhoods are in the north of the settlement on areas that were previously agricultural areas - 2 new neighborhoods and another expansion of 2 existing ones.



One of the main neighborhoods currently being built in the community is Kiryat Begin, near the exit to the Nahalal junction. A neighborhood where 1,700 new apartments, public buildings, neighborhood commerce, education and culture are planned, as well as a shopping center of the "Big Shopping Centers" group that is expected to be built in the future outside the neighborhood at the western entrance to the city.



Among the notable projects planned in the neighborhood is the Megiddo Quarter project of the Megiddo Group and the Eshel Jordan Company.

The companies plan to establish a project of 288 housing units together. Of leisure and recreation and culinary.

Can you reach your full potential?

Oak Quarter.

Kiryat Begin (Photo: Endo Studio)

Prices and trends: 29% in five years

A survey conducted by real estate appraiser Nehama Bogin a year after the opening of the Valley Railway found that real estate prices in cities near the railway route jumped miraculously. The city that recorded the biggest jump was Beit She'an with no less than 22% increase in apartment prices.

The construction in the periphery, in the Galilee and in the Negev of apartments as part of the price per occupant did not moderate the prices of apartments in the market and they are rising at a constant rate when, as in the whole country, demand exceeds supply. The prices of the apartments in Migdal Haemek - a new 4-room apartment about NIS 1.150 million on average, new 4-room garden apartments an average of NIS 1.350 million and new penthouses are sold in the locality around NIS 1.5 million. The average price of an apartment in the locality is NIS 904,000 as of March 2021, according to data from the Tax Authority. A price that reflects an increase of 29% in five years, when in March 2016 the average price in the locality was about NIS 700,000.



The rise in prices following the opening of the Valley Railway as a test case for a rise in prices is expected following the opening of the light rail in the north.



In October 2016, the valley train that currently connects Haifa and Beit She'an was rededicated. The valley train has evoked nostalgia over the years among many who remembered it from their youth and it is considered one of the cornerstones in the development of settlement in the valley. The train caused a significant shortening and an ideal connection between Beit She'an through the valley settlements that were not previously accessible and as a result caused a meteoric jump in real estate prices in the area. The train jumped miraculously. The city that recorded the biggest jump was Beit She'an with an increase of no less than 22% in apartment prices. It is followed by Migdal HaEmek with an equally impressive figure of 18.5%. Yokneam with 9.5%, and Afula with an increase of 3%. It is estimated that the opening of the light rail is likely to do the same.



Another factor in the expected increase in prices lies in the fact that the locality is limited in its municipal growth capacity, after a number of transactions of screaming areas from nearby localities created a maximum of 4,500 housing units, so future supply is very limited and ultimately a situation that increases prices. A quality living experience is also a business opportunity.

A precedent with a meteoric leap.

The Valley Train (Photo: Official Website, -)

Mines: Why pay attention

Migdal Haemek gained city status in 1988, when as a peripheral city in those years it developed at a slow pace. According to the CBS, in 2018 the city's immigration balance was negative and stood at 344 residents. In addition, it should be noted that most of the new construction planned, about 4,500 apartments according to the roof agreements, will be mainly in the north of the settlement. and the desire to maintain the many green areas in new neighborhoods, there is concern that they will be somewhat isolated from the center of town.



So whether you should buy now apartment?



Yaron Boublil, marketing and sales manager of the project district oaks it is establishing a group of Megiddo notes: "Migdal HaEmek and in particular the new neighborhood of Kiryat Begin "It will be built just two kilometers from the Nahalal junction.



Ram Geffen, a neighborhood researcher at the Madeleine website, notes: "Along with the new neighborhoods adding a variety of attractions to all city residents, there is concern that their location on the outskirts, combined with a large concentration of new population, will cut them off from the rest of the city." That the city will be divided into two parts. "

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Source: walla

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