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The equation: This is how a change of a few kilometers will save you hundreds of thousands of shekels - Walla! Real Estate

2022-03-24T15:34:34.811Z


Thus, a change of a few kilometers will save you hundreds of thousands of shekels The equation: This is how changing a few kilometers will save you hundreds of thousands of shekels Extending the search radius of the apartment by a few kilometers can save hundreds of thousands and sometimes even millions of shekels. So Raanana or Herzliya, Ashdod or Ashkelon, Rishon LeZion or Beer Yaakov - what are the price differences between nearby cities and which pairs of cities produce th


The equation: This is how changing a few kilometers will save you hundreds of thousands of shekels

Extending the search radius of the apartment by a few kilometers can save hundreds of thousands and sometimes even millions of shekels.

So Raanana or Herzliya, Ashdod or Ashkelon, Rishon LeZion or Beer Yaakov - what are the price differences between nearby cities and which pairs of cities produce the largest savings? We checked

Walla!

Real Estate

24/03/2022

Thursday, 24 March 2022, 13:35 Updated: 16:34

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A comprehensive appraisal conducted by Yaakov found that there are gaps of hundreds of thousands of shekels to more than a million shekels in the prices of new 4-room apartments between nearby cities at a distance of only 10 kilometers.

Apartment prices are constantly rising, demand for apartments is breaking records, and the number of transactions is soaring from month to month and quarter to quarter.

As reflected in the data of the Chief Economist for the third quarter, the increase in transactions in the free market amounted to a jump of 22% and encompassed all regions in the country.

The exorbitant prices make it difficult for young couples to buy an apartment and who among the families who buys an apartment, is sometimes forced to take out mortgages far beyond their financial means.



"Young families who start looking for an apartment will usually prefer to live as close as possible to their current place of residence or hometown," explains appraiser Israel Yaakov, "among other things because they are already familiar with the community services provided by the local authority and access to their neighborhood. "Recreation and leisure, etc. But sometimes they do not know that they can lower the costs significantly - if only they expand the search circle a little."



Indeed, a comprehensive appraisal conducted by Yaakov found that there are gaps of hundreds of thousands of shekels and up to more than one million shekels in the prices of new 4-room apartments between adjacent cities at a distance of only up to 10 kilometers.

The test is based on data from the Central Bureau of Statistics and the Tax Authority processed by Israel Yaakov. Petah Tikva, Yavne-Rehovot, Haifa-Tirat Hacarmel, Ashdod-Ashkelon, and Beer Yaakov-Rishon Lezion



.

However, it actually affected couples who wanted to move to land in the periphery and less so to young couples who can get their apartment cheaper at a short distance. "

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One kilometer, more than a million shekels difference.

The Stock Exchange complex in Ramat Gan (Photo: Yashar Architects)

Tel Aviv-Ramat Gan: gaps of more than NIS 1 million

For example, the cities of Ramat Gan and Tel Aviv border each other and similar apartments in projects of the same standard, which are about 1-2 kilometers apart, are sold at price differences of more than NIS 1 million on average.

In Ramat Gan, the price is about NIS 2,510 million on average, and in Tel Aviv it is NIS 3.870 million - a difference of NIS 1.36 million



.

In practice, the gap is even greater because the prices in Tel Aviv also include apartments in the south of the city and in areas that are less intended for families. " 4 rooms in Tel Aviv You can buy from us a spacious 5 room apartment on the national park and even more.

And if we compare apples to apples - the price of a new 5-room apartment in Tel Aviv next to Hayarkon Park is approaching the price of a spacious penthouse in our project, which cost about NIS 12 million. "

Rehovot-Yavne: NIS 630,000 difference

There is a gap of about NIS 630,000 between the prices in the cities of Rehovot and Yavne: in the streets the price is NIS 2.550 million on average, and in Yavne NIS 1.920 million.



Real estate appraiser Israel Yaakov adds that "in recent years the green neighborhoods in Yavne have become a magnet for young families and we see this in apartment prices. However there is still an opportunity to purchase an apartment at attractive prices together with the center of course and certainly in relation to neighboring streets."

Table of apartment prices in nearby cities (Photo: Walla !, Walla system)

Petah Tikva-Rosh HaAyin: a gap of about NIS 500,000

The cities of Rosh HaAyin and Petah Tikva were also examined - price differences of NIS 500,000 were found. In Petah Tikva, the average price was NIS 1.9 million and in Rosh HaAyin NIS 1.4 million.



According to Israel Yaakov, "within the framework of the roof agreements, a flood of apartments in Rosh HaAyin was something that greatly moderated the price increases there. There are areas in Pisgat Afek where prices are even lower."

Will happen a lot from the neighboring eye.

Petah Tikva (Photo: Reuven Castro)

Kiryat Ono-Yehud Monosson: a gap of about half a million shekels

In Kiryat Ono, the average price was NIS 2.490 million, about NIS 460,000 more than the price in nearby Yehud Monosson, where the average price of an apartment was NIS 2.03 million.

Rishon Lezion will cost about NIS 340,000 from Beer Yaakov

A price check in the nearby cities of Rishon Lezion and Beer Yaakov found price differences of about NIS 340,000.

The average price in Rishon Lezion was NIS 1.960 million, while the average price in Beer Yaakov was NIS 1.620 million.

Close but expensive.

Rishon LeZion (Photo: Official Website, Rishon Lezion Spokeswoman)

Haifa-Tirat Carmel: a gap of NIS 240,000

Price differences of NIS 240,000 were found between Haifa and Tirat Carmel: in Haifa the average price of an apartment is NIS 1.630 million and in Tirat Carmel an average of NIS 1.390 million.

Ashdod-Ashkelon: a difference of about NIS 170,000 in price

"In Ashkelon, the supply of new apartments is much larger than the supply in Ashdod and its prices are on the rise, so I estimate that the gap between the two cities will not only be reduced, but next year the data will be in Ashkelon's favor."

Ashdod and Ashkelon are the two southernmost cities examined, and the price differences in both are much higher than the geographical distance between them.

In Ashdod the average price was NIS 1.650 million, and in Ashkelon NIS 1.480 million - a difference of NIS 170,000.

The price difference between Ashkelon and Ashdod is only a temporary difference. The average price of a 4-room apartment in a particular city is actually a derivative of the supply in that city, according to Tali Sharon, VP of marketing and sales at Ram Aderet, In the city.



"In Ashkelon, the supply of new apartments is much larger than the supply in Ashdod and its prices are on the rise, so I estimate that the gap between the two cities will not only be reduced, but next year the data will be in favor of Ashkelon. "Like the city of wine, it is an autonomous neighborhood, which functions independently, and attracts a lot of demand from both Ashkelon and Ashdod residents. The prices of apartments in the neighborhood are constantly on the rise and currently the price of a 4-room apartment is about NIS 1.65 million."

A small extension will make all the difference.

Israel Yaakov (Photo: PR)

Raanana-Herzliya: Differences of NIS 150,000 in price

The price differences in the two nearby cities of Raanana and Herzliya amount to an average of NIS 150,000: in the projects examined, the average price in Raanana was NIS 2.8 million, and in Herzliya the average price was NIS 2.650 million.

"In recent years, Raanana has been in a significant construction boom of urban renewal alongside new projects in the Neot Sadeh neighborhood."

Eli Bitan, VP of Marketing at Peretz Bonni Hanegev, which is active in Raanana, explains. "The proximity of the city to major transportation routes - all of these together affect the demand for real estate prices in the city. Raanana also offers new boutique projects - a 5-6 storey building with only 5 large rooms and two tenants on the floor, which are another factor influencing the price segment." .

  • Real Estate

  • In the country

Tags

  • Tel Aviv Jaffa

  • Ramat Gan

  • Yavne

  • Petah Tikva

  • Rosh HaAyin

Source: walla

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