A 136 sq. meter, five-room condominium with a 16 sq. meter balcony within the Sea Aviv challenge within the newly deliberate Shirat Hayam seafront neighborhood in Netanya has been bought for NIS 8.05 million.
Shirat Hayam can be a brand new, small and unique neighborhood overlooking the ocean. The neighborhood is to the west of the Hashlulit Park and north of the Iris Nature Reserve. In August 2023, the Israel Land Authority (ILA) marketed six heaps for 749 housing models in 16-19 ground towers. However then one thing attention-grabbing occurred, Whereas ILA assessors had valued the land at NIS 1.23 billion earlier than VAT, bids solely reached NIS 790 million – solely 66% of the ILA’s estimated worth. The explanation was that the tender was issued on the low-point in 2023 after the Financial institution of Israel had hiked rates of interest, and residential costs and the variety of offers have been falling.
Final yr, the pattern modified and residential costs rose, however this yr they’ve fallen once more, and the query that arises is how the businesses value the flats within the neighborhood, which provides a uncommon sea view. An in depth examination reveals that solely Aviv-Melisron has begun advertising and marketing its challenge within the neighborhood at a median value per condominium of round NIS 53,000 per sq. meter.
Costs in Shirat Hayam ought to be in contrast with properties in Netanya’s luxurious neighborhood of Ir Yamim to the south of the Iris Nature Reserve, and costs in Internet-600, which is a few kilometer to the north. Residence costs in Ir Yamim have reached about NIS 48,000 per sq. meter, and in Internet-600 a small variety of offers have been accomplished at NIS 38,000 per sq. meter.
For additional comparability, a whole lot of meters north of the Aviv-Melisron challenge, one other coastal challenge is being marketed, which isn’t included in Shirat Hayam, and offers have been closed at NIS 45,000 per sq. meter.
Sea Aviv by Aviv-Melisron, in Shirat Hayam is within the southwestern a part of the advanced, in order that the view from it’ll stay open to each the ocean to the west and the Irisim neighborhood to the south, making it a challenge in a premium location within the advanced.
Upon completion, the challenge will embody two towers of 15 and 16 flooring, together with 125 3-6 room flats, enormous backyard flats and penthouses with personal swimming pools, all inside simple strolling distance of the ocean.
To the west of the challenge, on the cliff, a resort can be constructed that can be constructed to the peak of the cliff and due to this fact won’t obscure the view from the flats.
The deal represents a value of NIS 56,000 per sq. meter, which is about 5% larger than the typical value of flats within the challenge. The hole ought to be attributed to the ground – the thirteenth ground out of 15 flooring – and the open view.
One of many penthouse flats within the challenge was bought final week for NIS 15.9 million, and general it appears that evidently the value of this condominium and the value of different flats within the challenge, and between the costs of flats within the challenge and costs of flats in different luxurious seafront neighborhoods in Netanya, are cheap.
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Realtors Tomer and Ido Sinai from Sinai Properties Group, who acted within the deal mentioned, “The consumers – a pair of their 60s from New York – are planning to make use of the condominium as a trip residence. The worth is certainly the market value. The land reserves on Israel’s shoreline are operating out and so they purchased in a successful location, not removed from Herzliya and Tel Aviv, the place costs are double.”
Aviv Melisron CEO Tzachi Didi mentioned, “The Sea Aviv challenge in Shirat Hayam is a luxurious challenge in a singular location, first line to the ocean, within the coronary heart of a brand new neighborhood that has been fastidiously deliberate, and is predicted to turn out to be the Netanya Riviera. It is a basic Aviv-Melisron improvement challenge, which guarantees consumers an expensive residing expertise and top quality of life. We’re proud to be the primary to go in the marketplace within the neighborhood, which is predicted to turn out to be some of the sought-after within the metropolis.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on November 3, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
