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Cheapest in Israel: You won't believe how much a 3-room apartment in Dimona was sold - voila! Real Estate

2023-05-29T14:30:47.652Z

Highlights: A 3-room apartment in Dimona, a second floor with an area of 54 square meters, was sold this week at a price unlike any other in Israel in 2023. The transaction was located and executed through the law firm and notary Mankin Yaakov, which specializes in locating real estate bargains. After the renovation the customer will be able to rent the apartment for NIS 2,000 a month. This is a nice and respectable return of 6.5%, which gives a serious 'fight' to any bank deposit, not to mention an expected increase in value.


The cheapest deal in Israel was revealed: a 3-room apartment in Dimona, a second floor with an area of 54 square meters, was sold this week at a price unlike any other in Israel in 2023


Illustration: Apartment in an old building (Photo: courtesy of the subjects, Nikki Truk)

The cheapest real estate deal recently closed in Israel was revealed: this is a small apartment in Dimona - with 3 rooms without a balcony, a second floor in an old building from the early 80s, without an elevator.

The apartment, which is located near the entrance/exit from the city, on Baba Sali Street, with a total size of 54 square meters, was sold for a paltry sum of only NIS 300,2023 – a price that can no longer be seen in Israel 5.

In addition, the total amount of the apartment is a rare price of NIS 500,3 per square meter – significantly lower than the average for a 7-room apartment in Dimona, which stands at NIS 362,2 per square meter, according to the Yad<> website.

Herzl's statue at the entrance to Dimona: If you like, it is not a fairy tale (Photo: Reuven Castro)

It is important to note that the area in which the apartment is located, which in the past was considered less quality, has been upgraded in recent years, after some of the buildings underwent restoration and renovation, and the settlement meeting was located close by, bringing with it a young and high-quality population.

The transaction was located and executed through the law firm and notary Mankin Yaakov, which specializes in locating real estate bargains.According to attorney and notary Mankin Yaakov: "My firm specializes in locating real estate bargains at prices below the market price.

We located an apartment for the client at a bargain price. The apartment was not advertised by any means of publicity and was located through information and connections. Quick negotiation procedure for its purchase at the aforementioned attractive price. It is advisable to carry out a renovation of the apartment estimated at NIS 70,000, after the renovation the customer will be able to rent the apartment for NIS 2,000 a month. This is a nice and respectable return of 6.5%, which gives a serious 'fight' to any bank deposit, not to mention an expected increase in value."

"In general, I make many deals in Dimona for investors, the city of Dimona is undergoing amazing development and therefore has a high increase in value. Apartments purchased two or three years ago for NIS 300,000 are now worth NIS 500,000 or more. In Dimona there is massive construction of new neighborhoods as well as the construction of commercial and industrial zones, which is causing a lot of development in the city."

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Is it possible to find more opportunities in today's market?

Are there other realities in today's period that make it possible to purchase an apartment with particularly low equity? Absolutely.

True, it is not NIS 300,2, but a short search shows that about a month ago, a sale ad was published on the Yad2 website offering anyone interested in a 5.50-room apartment on Shalom Aleichem Street in Migdal HaEmek, 3 square meters on the ground floor of a three-story building, at a price of only NIS 420,<>.

According to the description of the advertisement published, the apartment is "perfect", compact and cute and well planned with easy access that can suit either the disabled or an elderly couple.

On that optimistic note, keep looking. The opportunities are there – you just have to find them.

  • Real Estate

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  • Real Estate

Source: walla

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