Opportunities this week: Two entrepreneurs bought land in Tel Aviv at a floor price - voila! Real Estate

2023-06-09T11:52:20.571Z

Highlights: Two entrepreneurs decided to take advantage of the situation in the market to buy cheaply, and after purchasing land in Tel Aviv at a floor price, they explain: "Whoever can buy, now is the time. Many contractors must minimize damage.". Two developers decided not to sit on the fence, went to a tender in Neve Tzedek and won 370 square meters of land at NIS 18 million, with an assessment price of NIS 27 million. They estimate that within 18 months they will receive a building permit, and until then prices will only skyrocket.

Two entrepreneurs decided to take advantage of the situation in the market to buy cheaply, and after purchasing land in Tel Aviv at a floor price, they explain: "Whoever can buy, now is the time. Many contractors must minimize damage."

Neve Tzedek neighborhood, Tel Aviv (Photo: ShutterStock)

In one of the most expensive neighborhoods in Israel: Two developers decided not to sit on the fence, went to a tender in Neve Tzedek in Tel Aviv, recently published by the Israel Land Administration, and won 370 square meters of land at a floor price, NIS 18 million, with an assessment price of NIS 27 million.

Believing that the current stagnation will continue until the end of the year or half of next year, after which the market will stabilize and people will get used to an interest rate of between 4 and 5 percent, the developers plan to take advantage of the building rights on the plot to build a boutique building in a prime location, facing the sea and in the heart of Tel Aviv's center of life. They estimate that within 18 months they will receive a building permit, and until then prices will only skyrocket.

According to the buyers, they see quite a few opportunities in the current market, "Whoever can buy goods, now is the time. Many developers and contractors are stocked with land, apparently the credit shortage is pressuring them and they will have to minimize damage and sell goods at floor prices."

Were there opportunities in your city as well? Last week's deals:

Tel Aviv

Two Family Rooms, Yasmin Street, Ramot Israel neighborhood, 60 sqm, courtyard 163 sqm, ground floor, sold for 4,300,000 NIS (Tel Aviv RE/MAX WIN)
5 room apartment, Shtulim Street, Park HaDarom, 117 Sqm, balcony 12 Sqm, 14th floor out of 18, parking, elevator, sold for 3,400,000 NIS (Tel Aviv RE/MAX Ocean)

Sheva

3 room apartment, Ramban Street, neighborhood D, 70 sqm, 1st floor out of 3, sold for 620,000 NIS (Beer Sheva RE/MAX Plus)
4 room apartment, Sanhedrin Street, neighborhood D, 94 sqm, 1st floor out of 4, sold for 790,000 NIS (Beer Sheva RE/MAX Plus)
4 room apartment, Operation Nachshon Street, neighborhood F, 84 sqm, 1st floor out of 4, sold for 795,000 NIS (Beer Sheva RE/MAX Plus)

The Greek island that Israelis have not yet discovered - a paradise with 100 beaches

Contributed by Ayala Travel

Harish

5 room penthouse, Shoham Street, 161 sqm, balcony 81 sqm, floor 5 out of 6, parking, elevator, sold for 1,580,000 NIS (Harish RE/MAX New City)
4 room garden apartment, Calanit Street, 97 sqm, garden 100 sqm, ground floor out of 7, parking, elevator, sold for 2,020,000 NIS (Harish RE/MAX New City)

Harish: A 5-room penthouse sold for NIS 1.58 million (Photo: official website, photo - Mor Shkefi Lati)

Nahariya

3 room garden apartment, Kaplan Street, 98 sqm, garden 110 sqm, ground floor out of 6, parking, elevator, sold for 1,650,000 NIS (Nahariya RE/MAX Pioneers)
3 room apartment, Shazar Street, 70 sqm, 1st floor out of 4, parking, sold for 1,030,000 NIS (Nahariya RE/MAX Pioneers)
Mini penthouse 4 rooms, Herzl Street, 113 Sqm, balcony 19 Sqm, 6th floor out of 7, parking, elevator, sold for 1,750,000 NIS (Nahariya RE/MAX Pioneers)

Lod

4 room apartment, Arlozorov, 110 sqm, 5th floor out of 6, parking, elevator, sold for 1,580,000 NIS (Lod RE/MAX SUCCESS)
3.5 room apartment, Anilevitz Street, 98 sqm, 3rd floor out of 4, sold for 1,100,000 NIS (Lod RE/MAX SUCCESS)

Tel Mond

A 4-room apartment on Dekel Street in Tel Mond, 75 sqm, without parking, in an area signed for evacuation-reconstruction, was sold for NIS 1.875 million (Anglo Saxon Even Yehuda)

Hadera

5 room apartment, Nahal Street, 104 sqm, 1st floor out of 11, parking, elevator, sold for 1,590,000 NIS (Hadera RE/MAX Pros)
3 room apartment, Milner Street, 76 sqm, 1st floor out of 5, sold for 1,230,000 NIS (Hadera RE/MAX Pros)
3 room apartment, HaYarden Street, 100 sqm, 2nd floor out of 13, parking, elevator, sold for 2,000,000 NIS (Hadera RE/MAX Pros)

Hadera: A 3-room apartment in the Park neighborhood of Hadera was sold for NIS 2 million (Photo: Walla!, Liad and Nish)

Blocks

3.5 room apartment on Herzl Street, 103 sqm, 4th floor out of 4, without parking, sold for 1.62 million NIS (Anglo Saxon Rehovot)
Semi-detached 5 rooms on Paratroopers Street, 169 sqm on 2 floors, on a plot of 364 sqm, with parking, sold for 4.22 million NIS (Anglo Saxon Rehovot)
A 3 room apartment on Levi Eshkol Street, about 80 sqm + 10 sqm sun terrace on the fourth floor out of eight was sold for NIS 2,200,000 million (housing plus streets)
A renovated 3.5 room apartment in a building from 1975 on Aharoni Street, about 91 sqm + parking and storage room on the fourth floor out of six was sold for NIS 2,290,000 million (housing plus streets)
A 6-room duplex in a 7-year-old building, on Miriam Mizrahi Street, about 165 sqm + 50 sqm sun terrace, 2 parking spaces and a storage room on the seventh floor out of eight was sold for NIS 3,050,000 million (housing plus streets)

Kiryat Malachi

5 room apartment, Weizmann Street, 110 sqm, 3rd floor out of 4, sold for 1,220,000 NIS (Kiryat Malachi RE/MAX Advance)
3 room apartment, Baal Shem Tov Street, 65 sqm, 4th floor out of 4, sold for 755,000 NIS (Kiryat Malachi RE/MAX Advance)
4 room garden apartment, Aryeh Zimuki Street, 112 sqm, garden 40 sqm, ground floor out of 8, parking, elevator, sold for 2,100,000 NIS (Kiryat Malachi RE/MAX Advance)

Real Estate