Mamilla real estate prices: Key data from 2022
Average price of an apartment in Mamilla: 4,723,500 Shekels (Was 5,217,949 Shekels in 2021)
Average monthly rental for an apartment in Mamilla: 12,500 Shekels (10,200 Shekels in 2021)
Percentage of residents of Mamilla that don’t work: 62% (Same as 2021)
Percentage of rental properties in Mamilla: 39% (Same as 2021)
Number of apartments sold in Mamilla in 2022: Unavailable
Average price per meter in Mamilla: Unavailable
Mamilla: One of the most expensive locations to live in the whole of Israel
According to all metrics, Mamilla is one of the most expensive places to live. Not just in Jerusalem, but in Israel too.
At close to five million shekels for the average price of an apartment, it is safe to say that Mamilla is really for the wealthy among us.
As you would imagine, this is backed up by the short term rentals available in Mamilla, on sites like Airbnb.
Mamilla: Popular with tourists and visitors
Most short-term rental ads in Mamilla are for 4-room apartments. The rates are among the highest in the city, indeed the whole country, ranging from NIS 334-751 per night (the average in the city is NIS 248).
Whilst this pushes long-term rentals up, it is not a huge surprise that Mamilla is so popular with tourists. It is by far the nicest, cleanest and impressive area close to the Old City and also the City Center.
It is also walkable to tourist-friendly locations like Talbiya and Rehavia. And, of course, the Mamilla outdoor mall offers a number of restaurants and the best shops in the city.
Four properties sold in Mamilla in 2022
Detailed below are four examples of properties sold in the Mamilla area during 2022:
- In September 2022, a 120-metre apartment was sold for eight million Shekels. This flat is in a 2019 building with four rooms on the second floor.
- In August 2022, another 120-metre apartment was sold in the same building as above for 7.78 million Shekels. This comes out to 64,883 Shekels per meter.
- In May 2022, a 52-metre apartment on Yafo Street in Mamilla was sold for 2.7 million Shekels. This is a two-room apartment on the 14th floor of the building.
- In March 2022, a 265-square metre apartment was sold for 16.15 million Shekels. This four-room apartment translates to 60,943 million Shekels per meter.
(All four properties sold in 2022 were cited on the Madlan website.)
Four properties sold in Mamilla in 2021
To gain some understanding of the type of property prices you can expect in Mamilla, here are four examples of completed real estate deals from 2021.
- An 85-metre, 3-room apartment, on the 25th floor, of 27 floors, was sold for 3,920,000 Shekels in the Savyon View project. This project was completed in 2017. The square meter value of the apartment was 46,117 Shekels per meter.
- A 139-metre, 3-room apartment on the first floor of 4, was sold for 3,077,550 Shekels in the Legacy Project. This project was completed in 2017. The square meter value of the apartment was 22,140 Shekels per meter.
- A 2-room apartment of 52 square metres, on the 26th floor of 27 floors, was sold for 2,865,000 Shekels in the Savyon Project. The square meter value of the apartment was 55,096 Shekels per meter.
- A 6-room, 178-metre apartment, on the second floor of four, on Shmai Eliyahu street, was sold for 8,400,000 Shekels. This works out at 47,191 Shekels per meter.
(Details of the four apartments via Madlan.)