Real Estate
In the country
A city with a future?
We jumped to Haifa to check where the next bonanza is hiding.
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In Haifa, a strange situation has arisen: on the one hand, proximity of hundreds of meters to the sea and open views due to the slope of Mount Carmel on which the city is built, and on the other hand prices that do not yet catch up with the stronger and more prestigious neighborhoods up the mountain.
Will the residents trust the Neve David neighborhood and make the investment worthwhile?
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Haifa
David Wertheim
Thursday, 29 July 2021, 08:55 Updated: 09:13
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The focus is on Neve David.
"Hatikva neighborhood" in Haifa (Photo: Walla !, illustration)
Your neighborhood froze in time and has not yet caught up with the insane price increases across the country?
Relatives of relatives have purchased a property and you are wondering if and when it will reach its potential?
New section in Walla!
Real Estate Map and examines the neighborhoods and regions in Israel who were said for years that they are capable of more. Caveat is registered in the Land Registry: section do not pretend to be a substitute for investment advice.
The last time we visited in Migdal Haemek. Here we found >>> bonanza
and time: Neve David Haifa.
In a world where residential neighborhoods near the beaches are considered the most prestigious and sought after, Haifa has for years been a kind of standard deviation: its elite neighborhoods are located in Ma'ale HaCarmel, and in the last two decades they have attracted strong populations outside Haifa and the city itself, who could afford to leave The old ones at the bottom of the mountain.
The neighborhoods closest to the sea are the least regarded, and historically a weaker population lived there.
This created an unreasonable situation - on the one hand, proximity of hundreds of meters to the sea and open views due to the slope of Mount Carmel on which the city is built, and on the other hand prices that do not yet catch up with the stronger and more prestigious neighborhoods up the mountain.
More on Walla!
New section: Hatikva neighborhood.
Where is the next bonanza hiding?
To the full article
It was established in the 1950s as a transit center.
The neighborhood before the demolition (Photo: Imaging)
What to build
About 90% of the apartments in the neighborhood are three rooms or less.
The neighborhood is adjacent to Ramat Hanasi, a new neighborhood that was established in 2003 and attracted a strong population to the area.
A prominent example is the Neve David neighborhood located in western Haifa. It was established in the 1950s as a transit station that served as a stop on the way for the many immigrants who came to the port of Haifa. It is characterized by relatively old and low-rise construction of railway buildings with small apartments - about 90% of the apartments in the neighborhood are three rooms and below. The neighborhood is adjacent to Ramat Hanasi, a new neighborhood that was established in 2003 and attracted a strong population to the area.
Today the neighborhood is gradually changing its face and character, with the municipality leading the process. The municipality places emphasis on coastal neighborhoods and Mayor Einat Kalish Rotem said in the past when presenting a master plan for coastal neighborhoods that "coastal neighborhoods will become Riviera neighborhoods, one of the most beautiful in the country, ensuring a high quality of life, variety of urban and neighborhood services and easy access to beaches." The municipality further states that "the planning vision for the neighborhood includes, among other things, creating a connection between the city and the sea, maintaining open spaces and views of the near and far landscape, strengthening accessibility for pedestrians and developing supportive infrastructure." It should be noted that these neighborhoods are also close to major arteries, to the exit from Haifa to the center, to the high-tech complex Matam and to the train stations in the area.
The neighborhood is undergoing extensive urban renewal in the form of two very large-scale projects, one of the Almog Group, which includes 437 units and is under advanced construction, and the other of the Azorim Company, which will include about 1,200 housing units. The project will include 437 apartments in 3 luxury towers of 28-31 floors, which will be spread over an area of 16 dunams. The environmental development will include gardens, an ecological pool on an area of half a dunam, sports and fitness facilities, seating and activities and more. Is under advanced construction when the excavation and construction of the huge parking lot has long been completed, and the skeleton of the first tower is already on the 8th floor. 8 months, and the tenants will be able to settle in 2023. About 80% of the apartments in the first tower have already been sold.
The tallest buildings in Haifa.
The future complex (Photo: Imaging)
Prices and trends: 30% in 5 years
According to the government real estate website in the neighborhood, there has been a 30% increase in prices over the past 5 years. Haifa is considered a city that is still relatively lagging behind when it comes to rising real estate prices, and that trends are arriving late.
Thus, it is possible that the city will still pass the tide that has been occurring in recent months in the center of the country.
Will the neighborhoods by the sea align with those on the mountain?
Haifa from above (Photo: Erez Michaeli)
Mines: Why pay attention
The neighborhood still has to pass the test of trust of the veteran Haifa residents who identify it as a weak neighborhood, even though the actual prices are catching up with the nearby Ramat Hanasi neighborhood.
The extensive renewal in the neighborhood will lead to a lot of construction which may cause disruption in the coming years.
So should you buy an apartment now?
According to Rakefet Lahav, VP of Marketing at Almog Group, "Prices in the neighborhood are expected to rise and align with leading neighborhoods in Haifa.
Since the start of marketing, prices have risen significantly, beyond the national increase: if in Frisl we sold a 4-room apartment for NIS 1.5 million, in the past year 4-room apartments were sold at an average price of NIS 1.8 million, an increase of 20% in two years.
As the neighborhood develops, prices will rise.
Today it is still possible to buy a large apartment in a high-quality tower with a balcony overlooking the sea for less than two million shekels, but it will not last much longer. "
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