Jerusalem Property Update: May 22, 2022

Jerusalem Property Update:

Market Opportunities to Jump In On +

Prices Rose 16% in the Past YEAR!?

Dear Readers,

People who are looking to buy in Israel always want to get the best deal. Part of the problem is that everyone thinks they are going to be the one who gets the best possible deal on the market.

It's funny because when I read the following article, I had three clients that day basically telling me that they know prices are not really rising and are on the way down. So when I got to my desk and immediately saw this article, it really made me realize that unfortunately, this does not seem to be the case.

People who want to buy in Jerusalem, you really have to realize this. It's not said rudely, and it's not because we want you to spend more money. It's because it is the fact. So, have a read of the article here- it is not the most analytical article but it is very factual.

Link to the Times of Israel article on house prices rising by 16%.

CLICK HERE to read more advice regarding prices in the current market.

Check out some incredible opportunities on the Jerusalem real estate market:

Classy New Building in Mekor Haim

Located on Mekor Haim Street, is an amazing new project- not a TAMA 38 project, but rather a brand new building.

The building is due to be ready by July 2024. Being developed by very well-known developers in Jerusalem, there are two elevators (one will be a Shabbat elevator) and private parking. See an example plan of a three-bedroom apartment.

These beautiful apartments are approximately 1,000 sqft, with balconies, air conditioning, and underfloor heating. There are different options with different views with some options having beautiful outlooks.

These apartments are really worth looking at as the prices are great for buying a brand-new project at less than a million dollars for a three-bedroom, two-bathroom. It is approximately a five-minute walk to Hadar Mall, which is a great shopping center right next to Baka and it is a mere 18-minute, walk to Nitzanim synagogue in Baka. It is approximately a 5 to 7-minute drive to Emek Refaim. 

The asking price for a 3 bedroom apartment start at 3,120,000 nis (approximately $930,000 USD) on Floor 1 up to 3,250,000 (approximately $970,000 USD) on Floor 6.

There is a special offer at the moment which fixes this price without index! This is very rare and could save buyers a lot of money.

Gorgeous Modern Penthouse in Arnona

Ein Tzurim is a lovely area, surrounded by a lot of greenery, and is just over a 5-minute walk from a shopping center with supermarkets and kosher restaurants. This project will see the complete modernization and refurbishment of an existing building, with the addition of 2.5 floors and 15 apartments.

The building will have a sleek, modern design with a lovely foyer and brand new elevators with a Shabbat clock program. It is set to begin construction in about 1 year with expected completion in approximately 3 years. 

Apartments currently available for pre-sale come with private parking and a storage room!

There is a generous budget and a variety of designs and options for the finishes, such as porcelain tiles in a variety of colors. It is the ideal place to locate as Hadar Mall is within a 15-minute walk, and Nitzanim Synagogue is a 20-minute walk.

This penthouse option is 1300 sqft with a 1000 sqft balcony. Units sold by Ben in this project come with generous upgraded technical specifications including air conditioning and under-floor heating. Additional benefits will be discussed more in the in-depth conversation.

The asking price for this unit is 4,850,000 nis (approximately $1,450,000 USD).

Spacious Garden Home in Arnona

Located on a gorgeous green street in Arnona, this 1550 sqft home is a stunningly unique property.

With a 1300 sqft garden, plenty of storage space, and private parking, this unit has enormously large ceilings with a large living area that has large corner windows which makes the unit extremely bright. It has 3 bedrooms upstairs, and two in the basement, making it the perfect family home. 

The asking price for this unit is 5,250,000 nis (approximately $1,560,000 USD).

Upscale Combo Apartment in Old Katamon

Located in Old Katamon, bordering Talbiyeh, only a 5-minute walk to Palmach, this TAMA 38 project combines two small units to make a large 4 bedroom unit. With 3 bathrooms and an oversized living room, this unit will be 1800 sqft with a 250 sqft balcony.

It will be finished to a high standard, with beautiful views on a gorgeous, quiet street. The apartment includes a private parking spot.  Attached is a concept plan for a 4 bedroom unit.

The asking price for this unit is 7,400,000 nis (approximately $2,200,000 USD).

See our available Jerusalem real estate properties here and luxury Jerusalem apartments here.

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