A 117 sq. meter, four-room, fourth and fifth flooring penthouse condo with a 35 sq. meter balcony in a brand new venture on Hubert Humphrey Avenue on Haifa seafront has been bought for NIS 6.2 million. The venture includes two five-floor condo buildings at 17 and 19 Hubert Humphrey Avenue with a complete of 20 residences with a swimming pool to be used by residents of the 2 buildings.
Hubert Humphrey Avenue is west of Bat Galim close to the Stella Maris cable automobile terminal and is the closest avenue to the ocean on which it’s permitted to assemble new properties. The condo is barely 40 meters from the seafront.
How is it potential to construct a venture so near the ocean in Israel the place development is prohibited inside 300 meters of the shoreline? It seems that Haifa’s first grasp plan from 1934 allowed this, and the plans that adopted didn’t get rid of this risk. Hubert Humphrey Avenue, which results in Israel Oceanographic and Limnological Analysis Institute, has remained partially empty because the plan was accredited 91 years in the past. In recent times, a number of buildings have been renovated on the road and a number of other new buildings have been constructed, and no less than one new venture is presently being marketed on the road.
The road’s massive promoting level is its proximity to the ocean. As within the case of Bat Galim Promenade, residents solely must cross the street to achieve the ocean. The massive minus is behind the venture to the east with the railway line and Street 4 nearly bordering the heaps.
There have been only a few offers on this avenue, however the tempo of value will increase reveals how sizzling the properties are there. For instance, in October 2018, a penthouse condo at 15 Hubert Humphrey Avenue was bought for NIS 2.585 million, and two years later, in 2020, the condo was resold for NIS 3.475 million – a rise of 34%.
An previous 3-room condo inbuilt 1940 was bought two years in the past for NIS 2.2 million. This deal can be a excessive value, reflecting the good potential of the road. 18 months in the past, two 4-room residences have been bought on paper at 19 Hubert Humphrey for NIS 6 million. Within the constructing the place the present deal was closed, two 3-room residences have been bought a number of months in the past for NIS 3 and three.4 million.
The final two offers mirror a value of NIS 43,000 per sq. meter. An examination of the brand new condo market in Bat Galim reveals that condo costs close to the ocean attain NIS 35,000 shekels per sq. meter, whereas on seafront, one deal has been carried out in recent times, at a value of about NIS 43,000 per sq. meter, roughly the identical as the costs obtained within the Hubert Humphrey venture.
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Within the present deal, the value acquired is about NIS 48,000 per sq. meter. Contemplating the individuality of the venture and the condo that was bought (a penthouse condo with a big balcony), the value appears affordable.
Appraiser Asi Avni stated, “This can be a uncommon deal for Haifa, which stems before everything from an distinctive location. A two-level penthouse with an space of 117 sq. meters, plus a 35 sq. meters of balcony, positioned solely tens of meters from the seafront, is a really uncommon function in the true property market.
“For comparability, Hayarkon Avenue in Tel Aviv – one of the sought-after places within the nation attributable to its proximity to the ocean, is positioned about 100 meters from the seafront, so on this case it’s a property that’s considerably nearer to the seashore. The mix of such a location with the traits of a penthouse explains the excessive value degree set within the deal – about NIS 53,000 per sq. meter (with out balconies) – a degree that doesn’t mirror the overall Haifa market however reasonably a novel and uncommon premium property.”
The underside line: When the ocean is open in entrance of you, and when the gap to it’s significantly quick, it’s potential to achieve “Tel Aviv” costs within the Haifa market as properly. That is the most costly 4-room condo in Haifa.
Printed by Globes, Israel enterprise information – en.globes.co.il – on December 21, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
