A two-room condo on the seventh ground of the Madarin Oriental undertaking at 2 Hayarkon Avenue in Tel Aviv (reverse the previous dolphinarium) was bought in April for NIS 9.79 million, based on the Israel Tax Authority web site. The deal, for a 79 sq. meter condo, works out at NIS 123,924 per sq. meter.
At 7 Hayarkon Avenue, based on the Madlan web site, an condo was bought in February for NIS 6.67 million. This deal, for a 53 sq. meter condo, provides a value per sq. meter of NIS 125,759. In October 2024, one other condo within the Mandarin Oriental undertaking bought for NIS 13.38 million, or NIS 132,475 per sq. meter.
These are simply three examples. At a time when the true property business, actually in Tel Aviv, is principally asking itself what costs residences within the new neighborhood by the ocean on the location of what was Sde Dov Airport in north Tel Aviv will fetch, there’s an space that can also be on the primary line from the ocean the place the numbers would have appeared absurd within the not too distant previous.
“The common for offers on Hayarkon Avenue previously yr has surpassed NIS 130,000,” says actual property appraiser and lawyer Ran Wiernik, a former chairperson of the Actual Property Appraisers Affiliation. “In the event you attempt to examine this space with Sde Dov, you understand that it’s merely not the identical product. Hayarkon is way more central than Sde Dov, the ocean is inside strolling distance alongside your complete road, the Carmel market is shut by, the town middle is shut by. The availability there may be additionally completely different. At any given second there may be often only one undertaking promoting new residences, and it’s a vendor’s market. You possibly can say that it’s virtually a monopoly. Evaluating at the moment’s costs, Hayarkon is 60% dearer.”
“There are tasks at NIS 150,000”
“There are additionally tasks on this road for which common costs are over NIS 150,000 per sq. meter,” provides Oren Katz, a realtor who specializes within the luxurious finish of the market, with an emphasis on Tel Aviv. “The Mandarin Oriental undertaking, for instance, the place by the way all of the residences have been bought. The Herbert Samuel 6-8 luxurious towers fetch these costs, however smaller tasks can even provide the extras that appeal to the posh consumers. Solely very high-end tasks can attain such costs – those who incorporate a resort, with a swimming pool, on the ocean entrance. Outdated, much less subtle buildings on the road are priced within the vary of NIS 70,000 to NIS 80,000 per sq. meter.”
Yehuda Avron, a realtor who additionally works within the luxurious market, says that these costs are attribute of the entire coastal strip. “At Jaffa Port too, you possibly can see costs of NIS 100,000 per sq. meter and extra, and in Herzliya Pituah as nicely in fact. It is determined by the undertaking, the property, the diploma of luxurious they provide. Costs can begin at NIS 15 million, and attain NIS 100 million or extra. Rents on Hayarkon Avenue, on the ocean entrance, attain as a lot as NIS 60,000 month-to-month. Hayarkon Avenue may be very a lot in demand nowadays, and costs are to go well with. There aren’t many bargains, and so the pricing reaches these ranges.”
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“Diplomats’ households and abroad residents”
“These costs replicate the market,” says Katz. “That is what occurs when there aren’t any reserves of land, when every little thing has been constructed, when there isn’t a lot provide. Once I promote residences at costs like these, I too increase an eyebrow, however that’s what the market decides. I don’t know if we’ll attain NIS 200,000 per sq. meter, however for my part it is going to not less than keep at present ranges, due to one issue: abroad residents. Lots of them have come to take a look at residences within the space not too long ago, primarily from Britain, by the way, partly due to antisemitism, but additionally due to heavier taxation there.
“British Jews who aren’t petrified of the state of affairs in Israel, who discover it onerous with the rising tide of antisemitism and excessive taxation within the UK, are deciding to return right here, and Hayarkon is one among their most popular places. They’re in search of the town of Tel Aviv. Abroad residents are altering the principles of the sport, and that’s how costs have gotten to the place they’re.”
“Abroad residents and diplomats’ households are the primary components producing the demand on Hayarkon Avenue,” provides Avron. “There was very intense exercise by international residents not too long ago. The state of affairs in Israel is probably not good, however when it isn’t good right here, for Jews abroad it’s even more durable. Antisemitism is on the rise, and so they’re in search of a refuge.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on July 22, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
