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My heart in the east: the Tel Aviv neighborhood that everyone is waiting for to take off - Walla! Real Estate

2021-08-12T05:35:22.286Z


Real estate experts estimate that as the eastern neighborhoods of Tel Aviv develop, along with the opening of the light rail, the gap with fictional prices in the city center may narrow. We examined one such neighborhood, and tried to figure out if it has unrealized potential.


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My heart in the east: the Tel Aviv neighborhood that everyone is waiting for to take off

Real estate experts estimate that as the eastern neighborhoods of Tel Aviv develop, along with the opening of the light rail, the gap with fictional prices in the city center may narrow. We examined one such neighborhood, and tried to figure out if it has unrealized potential.

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  • Tel Aviv Jaffa

  • Yad Eliyahu

David Wertheim

Thursday, August 12, 2021, 8:30 p.m.

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Awakening of urban renewal.

Neve Chen (Photo: Image Processing, Israel Mapping Center)

The neighborhood is rated in the socio-economic index 5/10, low compared to other neighborhoods in Tel Aviv.

In January 2021, the Tel Aviv-Yafo Municipality published a policy document for the neighborhood, which deals with the development of the entire area.

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: The section is not intended to be a substitute for investment advice.



Another section titled "Neighborhood Hope":



city with a future: Is it bonanza next Haifa?


We jumped tower Will Kiryat Begin bring to the city the aliyahs it has been waiting for a long time?



And this time: the Neve Chen neighborhood in Tel Aviv-Yafo.



Neve Chen is a Tel Aviv neighborhood located in the southeast of the city and borders the Yad Eliyahu neighborhoods to the east and the neighborhoods of Ramat Hen and Ramat HaTaisim to the west. The neighborhood has about 6,000 residents according to CBS data as of 2015, and its main street is Ma'apilim Egoz. The neighborhood is rated 5/10 in the socio-economic index, lower than other neighborhoods in Tel Aviv. Which deals with the development of the entire area.



Neve Chen enjoys easy accessibility within it and in every direction in the area: to the heart of Tel Aviv, to Ramat Gan, in the vicinity of the pilots' road and the exit to road 4. Lines 4 and 16 also pass through the neighborhood. The purple line that will be launched in 2026, whose Wolfson Park station is located on the northern border of the neighborhood, will pass through it, and will quickly connect the neighborhood to the city center.



Neve Chen enjoys good infrastructure and parks: in the northern part of Ma'apili Egoz Street is Sharni Park, and near the neighborhood are two large and invested parks - Edith Wolfson Park and Menachem Begin Park (South Park).

The neighborhood has two shopping centers that include a supermarket, various stores, fast food and more.

Tel Aviv was and remains the most expensive and sought-after city in Israel, and in recent years, in light of the continued rise in purchase and rental prices, the east of the city is becoming a popular option among young people and families, with accelerated development of neighborhoods including Yad Eliyahu, Bitzaron, Montefiore and more, and Neve Chen.

More on Walla!

New section: Hatikva neighborhood.

Where is the next bonanza hidden?

To the full article

What to build

In the neighborhood in general and on Ma'apilei Egoz Street in particular, there is an awakening of urban renewal with a number of new projects, including the Grofit companies, areas and more.

The nearby neighborhoods are also benefiting from the flourishing of urban renewal projects, which will continue even longer and lead to the upgrading of the area and the entry of new residents.

Price increases alongside construction disruptions.

Neve Chen (Photo: PR)

Prices and trends: a gap of NIS 1 million between new and old

According to data from the Tax Authority, the average transaction value of a second-hand apartment in the neighborhood amounted to NIS 1.84 million for a 4-room apartment in March 2021, an increase of NIS 300,000 compared to March 2020 and NIS 400,000 compared to March 2018.



Prices for new apartments are 2.1. NIS 1 million for a 4-room apartment.

There is a gap of about one million shekels in new and old apartments compared to the average prices in the city, and as the east of the city and the neighborhood develops, along with the opening of the light rail, the gap may narrow as the east of the city catches up west.

She's already done it.

Yad Eliyahu neighborhood (Photo: PR)

The Mines: A sleepy neighborhood with no Tel Aviv experience

This is a neighborhood that is still quite sleepy today and despite the accelerated development still does not provide the bustling Tel Aviv experience.

Like most areas of the city and the center, disturbances to the public in the form of extensive construction are expected here in the coming years.

So should you buy an apartment now?

Grofit CEO: "Neve Chen will be one of the next neighborhoods to do so, and whoever buys now will be able to do so at affordable prices."

"Stick to the prices."

Rachlavsky (Photo: Rafi Koren)

Amir Rachlavsky, CEO and owner of the Grofit company that is building the "Ma'apili Egoz 84" project, says that "prices in Tel Aviv are moving away quickly.

Neighborhoods that were once considered achievable such as Neve Sharet or Yad Eliyahu have already recorded a large increase following the renewal and demand.

Neve Chen will be one of the next neighborhoods to do so, and those who buy now will have time to do so at affordable prices.

The neighborhood is green and pleasant, it has excellent schools, and it is in a good location close to traffic arteries and with good public transportation that will only get better with the launch of the light rail. "

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Source: walla

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