250 New Homes in Ramat Aviv Gimel and Steady Prices in Bavli

The data published today matters to anyone weighing a purchase or a sale in north Tel Aviv and Ramat HaSharon: a new housing tender beside the Schuster Center, up to date transaction prices in Bavli and in Ramat Aviv HaYeruka, and a regulatory change on mortgages that takes effect shortly. Our site currently lists 85 properties for sale, the large majority added in the past week.

Kardan won the tender beside Schuster

Kardan Real Estate won a residents’ tender and will build 250 new housing units in Ramat Aviv Gimel, close to the Schuster Center. This is a significant addition to supply in the neighborhood, and it will shape the future mix between older and new apartments in the area.

Courtesy of Merkaz HaNadlan

Bavli: the gap between older and new apartments

In Bavli 99 apartments were sold over the past year. Older apartments close at around NIS 52,500 per sqm, while new apartments sell at around NIS 59,000 per sqm, a gap that illustrates the premium on new projects in the neighborhood.

Courtesy of Bizportal

Ramat Aviv HaYeruka: an average of NIS 59,800 per sqm

At an average price of NIS 59,800 per sqm, every recent deal in Ramat Aviv HaYeruka closed in a new project. The figure points to steady demand for new apartments in the area, as against the older stock.

Courtesy of Bizportal

Ramat HaSharon: demolition and rebuilding in Kiryat Ye’arim

Azorim has begun demolishing four three floor walkup blocks on Yitzhak Elhanan Street, to be replaced by five buildings with 220 housing units under TAMA 38/2. Prices in the project will start at NIS 3.7 million.

Courtesy of Merkaz HaNadlan

A change in mortgage rules from next month

From 1 October the Bank of Israel is changing the rules for all purpose loans secured against an existing property. Banks will be required to take the existing mortgage into account as well, so some borrowers may receive a lower amount or meet a refusal.

Courtesy of ynet