Real Estate
In the country
Between Ben Gurion Airport and Highway 1, there is a rare locality that did not catch up with the price increases. Why, in fact?
The huge jump in prices in East Tel Aviv, Holon and Jaffa has not yet reached the area.
This is why investing in it might be worthwhile.
But why is the momentum slowing down and what are the mines after all?
Walla!
Real estate with a neighborhood per week
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Area
Ben Gurion airport
David Wertheim
Monday, 13 September 2021, 08:30 Updated: 08:31
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(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: The section is not intended to be a substitute for investment advice.
Another section:
her heroes fly: neighborhood in Holon entrepreneurs staring at her
city with a future: Is it Bonanza Haifa's next?
My heart in the east: the Tel Aviv neighborhood that everyone is waiting for to take off
and this time: an area.
Azor is a local council in the Tel Aviv district, close to Tel Aviv on the one hand and Holon on the other. It is the closest rural locality to Tel Aviv, and has to this day been under the radar with a minority of new construction. It has about 13,300 inhabitants. The area has excellent accessibility - it is located near the intersection of roads 1 and 4 and close to Ayalon lanes, and is minutes away from a row of cities in the immediate circle that surrounds it and from Ben Gurion Airport. The M3 metro will pass through the area, and serve its residents through a station located in the adjacent industrial area of Holon.
Most of the area is characterized by ground-level construction. Floors.An area is now significantly less crowded compared to the cities adjacent to it.The northern crossing of Highway 1 is Ariel Sharon Park.
According to the master plan for the area, the locality will reach a population of 27,000 residents by 2035 through the construction of an additional 4,400 housing units, while preserving its community and suburban character.
The future urban renewal in the locality rests in part on the axis of a passenger-rich transportation system (MATAN) approved on Road 44, and on the metro station planned in the east of the locality.
More on Walla!
For her, flying heroes: the Holon neighborhood that developers are staring at
To the full article
"The fact that no significant development has yet been made in it plays in favor of the buyers."
Area (Photo: PR)
What to build
The French company Zvi will build about 360 apartments in three 22-story residential towers in the evacuation-construction project on Kaplan Street.
Sharon Towers Company has built a project of about 300 apartments in 4 buildings of 12-13 floors.
The High School Builders Company is expected to prepare a construction evacuation plan in which about 800 new apartments will be built in 13 new buildings of 7 to 16 floors.
An area close to Highway 1 and Ben Gurion.
Ben Gurion Airport (Photo: Reuven Castro)
Prices and trends: 27.5% increase in five years
According to data from the Tax Authority, old second-hand apartments built decades ago are currently being sold at prices of NIS 1.7 million for a 4-room apartment and NIS 2.4 for a 5-room apartment.
New 5-room apartments are marketed in the locality at prices starting at NIS 2.79 million, and 4-room apartments in the French Deer project currently underway will be marketed at a price starting at NIS 2.39 million.
The average transaction value in the locality (a figure that includes all transactions - all rooms and first and second hand) is currently NIS 2.04 million, compared to NIS 1.6 million five years ago - an increase of 27.5%.
Mines: Delayed Renewal and Partial Education System
There are still old areas in the area with old railway buildings, and it will take time for the great momentum of renewal to reach all the existing buildings in the locality.
There is no high school in the area but only elementary and middle schools, and high school students study outside the city, usually in Holon or Tel Aviv.
"The huge leap in the remote neighborhoods has not yet arrived."
Area (Photo: PR)
So should you buy an apartment in the neighborhood now?
"Prices in the area today are 10% lower than in Holon, and 20% lower than in the neighborhoods of south and east Tel Aviv."
The momentum of development in the area has only just begun, and is at a very early stage in relation to the nearby cities.
Even after the construction and renewal is done in the city as instructed by the master plan, the settlement will be greener and less crowded than the cities next to it.
According to Moshe Tzarfati, co-CEO of Zvi Tzarfati, "The future of an area even before it, its location is fantastic and the fact that no significant development has yet been made in it plays in favor of the current buyers.
"The huge jump in prices that took place in the more remote neighborhoods of Tel Aviv and Jaffa has not yet reached the area, but it will certainly come. Prices in the area today are 10% lower than prices in Holon, and 20% compared to neighborhoods in south and east Tel Aviv. Shalom is currently priced at NIS 30,000 per square meter, while in the area the price per square meter is NIS 20,000 per square meter, a huge gap that will undoubtedly be balanced in the future. "
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