Our real estate experts talk about neighborhoods and streets in Haifa, that if only we had been wise in time and invested in them 10 and 20 years ago, we would have received the maximum return. And also find out where you should invest today
Each of the real estate experts we spoke with points to a different neighborhood in which it would have been worthwhile to invest about 20 years ago in Haifa, but in general, investing in real estate in the city in the last 20 years was very worthwhile, because on average, the prices of apartments in the city increased by tens percent since then. Regarding places in Haifa where you should invest today? The experts do not really agree on this issue either.
The owner of the office "Zamman Real Estate" in Safar Square, Shirley Zeevi, believes that the best investment that could have been made in 2009 with NIS 360,000 was the purchase of a 3-room apartment on Dreyfus Street in Ramat Shaul.
"Ramat Shaul is a neighborhood on the western slopes of the Carmel Ridge, named after the poet Shaul Tchernihovski. The neighborhood was established in the 50s of the last century, as part of the mass immigration to Israel after the establishment of the state. The buildings in the neighborhood were mainly multi-entrance train buildings, 4-5 years old floors. The socioeconomic index of the neighborhood is 6/10".
"One of the streets in the neighborhood is Dreyfus St., which is near Leo Buck School and not far from the neighborhood shopping center. A 3-room apartment of about 70 square meters that was purchased in 2009 for 360,000 NIS was sold in 2015 for 690,000 NIS, and currently costs about 900,000 NIS. The price increase reflects a number of factors, among which is the great advantage that Ramat Shaul and Printsek have - the Leo School Buck.
Many believe that this is the best school in the city, and from these neighborhoods they get to Leo Buck free of charge (even though the high school is a private school). Although there is almost no new construction on Dreyfus Street, in relation to nearby areas, such as Shaprintak and Neve David, the price trend in the neighborhood is of an increase."
the Golden calf? not always
The real estate expert Al89y Shiner claims that in recent years those who invested in real estate - made a profit, whether they owned the apartment for 20 years or 10 years. "Most of us squint at real estate investments and see these investments as the golden calf. People only see the glass half full, but not everything is rosy in the field of real estate. Investing in real estate or buying real estate does not always end with price increases. There were also periods of decreases of up to 25 percent, between the years 1997-2007. Investors and buyers They lost a lot of money. In the 90s, the State of Israel was blessed with immigrants from the Soviet Union. About a million immigrants arrived. This resulted in an unprecedented wave of massive construction, but at the same time, created a large excess in the supply of apartments and a decrease in the value of properties by approximately 25 percent. Starting in 2007 The gap between supply and demand began to narrow, and from here began a shortage in supply that continues to this day and stems from natural growth."
Ghost apartments
"One of the things that brings a wave of buyers is anti-Semitism in the world. Some of them buy apartments that remain unoccupied and are called ghost apartments. Bureaucratic procedures that take many years to get a building permit. Lack of supply and land freezes by the state. All of these cause a shortage in the housing industry and instability and an increase in real estate prices."
"Needless to say," continues Sheiner, "those who have owned properties for the past 20 years and have not sold, have made a profit. For example, in Bat Galim, on Aliya Street, a 2.5-square-meter apartment, approximately 45 square meters for renovation, was sold in 2000 for 260 NIS." H. In 2020 the apartment was sold for 1.050 million. In a building on Hanita Street, 3.5 h about 85 m, sold in 2007 for 325 thousand NIS. In 2020, the apartment was sold for one million and one hundred NIS. The above indicators are measured by holding a property for about 20 years. If you refer to the last decade, the increase in real estate prices in Haifa was lower, only about 20 percent. In the end, investing in real estate seems like a safe investment, but the yield is not necessarily as high as you think."
Divorces increased by 20 years
Karin Kisos Cherbinski from Ofrido Properties says: "There is no doubt that 20 years ago it was very smart to buy an apartment on Harotem Street in Shaar Aliya, for NIS 200. Today, the apartment is worth several times more, because Harotem Street is before the eviction of construction and if someone sells the apartment, he already realizes the expected profit. The same goes for apartments in Neve David, which 20 years ago were bought by divorcees, and today you can hardly find an apartment for sale, because of eviction and construction projects."
Something good is starting
"Also in Bat Galim," says Kiosus Cherbinski, "something good is beginning to pass over the neighborhood, and this is reflected in the increase in prices. Those who bought an apartment 20 years ago benefited. And the last neighborhood - Hadar. 20 years ago, apartments on Masada Street were very, very cheap Those who bought an apartment there then and started renting it out profited from what happened in the neighborhood and especially on Masada Street. I am no longer talking about those who took an apartment in Masada and divided it into 3 tiny apartments, and there are those who did that and made a fortune. Of course, those who sell today An apartment in Masada, which he bought 20 years ago, is making a very good profit."
The new neighborhoods
"Ten years ago, it was worthwhile to buy apartments in the new neighborhoods - Nav Peres and Ramat Hanasi. At first, when they just started marketing the apartments, the prices were relatively low, until people started moving into the apartments and the prices went up, and continued to rise in the first years of the neighborhoods. Those who were between The first to buy apartments there, because today they are worth much more."
tough question
"Where should you invest today? It's a difficult question," says Kisus Cherbinski, "because you have to bet here where the prices will rise. I don't think that in Givat Zemar the prices will rise significantly after the neighborhood is occupied, because the apartments are sold in advance at high prices. I also see expensive apartments In neighborhoods like Dania, Ramat Golda, Savioni Dania, which are not easy to sell, so I would not invest in such an apartment today. What is the 'Hanave David' of 20 years ago today? I think we will only know the answer in a few years, and even then we will regret not buying there Apartment".
As long as "the state" economically encourages beyond Gush Dan and the land of Gush Emonim, Jewish Haifa will continue to fade and Arab Haifa will replace it. In my opinion, this is already an irreversible process, the same in the Negev and perhaps also in the Galilee. This happens due to differences in demographics, education and culture between Jews and Arabs and between religious and secular people. Available soon . The right and the left united against the Zionist enterprise and what happened? It worked for them. Leth in the fourth house.
Investing in the Talpiot market is like investing in Neve Tzedek in the 70s. It took 20 years to restore the environment, but then it was worth millions. It's a bet whether in Haifa this environment can be restored (like any citrus that is deeply submerged in mud). There is a situation where the bet will pay off and there is a situation where your investment will go down the drain and you will be forced to own empty apartments above a neglected market. or sell at a heavy loss.
I wouldn't approach and invest in the Talpiot Market area, dirty with crime and associates, maybe in 20 years something will change there
Most of the investors in real estate are not from Haifa, as of today there is almost no reality in Haifa not to live in illusions, even those who bought real estate 10 years ago are not geniuses, they were simply looking for an investment channel!
The wisdom of hindsight...
The problem of the Haifaites is that they are always blind and what they remember as a problematic place they won't invest in. That's how the Haifaites missed the lower city and Bat Galim
The hottest area at the moment, the Talfiot Market area is filled with young people and a special Hawaii is developing
The prices are no longer cheap, but there are still bargains under a million
Go building by building in Kiryat Eliezer, Shaar Aliya, Shaprinzak, Ein Hayam. Hundreds and thousands of tenants signed with a majority of 80%, so what? So they are signed. There is one building in the Europa exit and another 2 in Neve David that have completed a 20-year bureaucracy and are now in the process of construction. Nothing has happened for many years with the rest. The representatives of the municipality with the participation of the public said in their voice that the evacuation of a building according to the developers' proposal will not happen. So it is enough to mislead the The surfers and the poor tenants. Please make based articles and not guesses
You forgot Kiryat Eliezer. In 2008, an apartment cost 250000 NIS and today between 800000 NIS and a million and more, plus construction and evacuation
The decline in Haifa is due to the greens who block every project with excuses about conservation and alienation and the illegality
It is amazing to see that they are now trying to sabotage an important project of the first new office tower in 20 years in the lower city
In Pal-Yam is adjacent to the government building and more in a mixed use that combines residences. For the first time in Haifa, a combined office and residential tower.
The Greens are supposed to support the revival of the government's Kiryat, but instead join the radical Islamists who are "fearful of a nearby mosque"
Really, then they ask why there is no development in Haifa and why the young people are leaving this city. Every small and big project the greens stuck here for thirty years. And then the city cries at a standstill and there is no construction. So - Gelbhart-Hannan-Han let's at least admit that the city has stagnated a lot because of you!! Every project becomes a road of obstacles for entrepreneurs. That is why many large contracting companies are simply not looking for any project in Haifa. The municipality and the worst city engineer in combination with the greens who are against all pips drove the big companies away.
This is how it happens that Carmel Castle has twice as much new construction as Haifa. A city half the size of a neighborhood in Haifa.
The worst opposition of all is to the marina in Bat Galim, and here the residents of the neighborhood are also to blame, for whom the term NIMBY was invented, but they are opposed to a vending machine for everything on the beach strip. In the third age, it is endlessly submitting objections to blocking projects. At some point, after 40 years of neglect, entrepreneurs began to be interested in renovation and rebuilding according to TMA, so the same group tried to define Bat Galim as a special neighborhood that would not allow TMA. They have no boundaries. Block the marina project which would have brought tremendous tourism development to Haifa like all the coastal cities in the Middle East. It's enough to see the beautiful project that Ayia Napa is building - go google Ayia Napa Marina and you'll see what Bat Galim could have looked like. The loss of this neighborhood is really extreme and it's happening with the full support of the Greens in the city council The construction of a marina and the development of the Bat Galim promenade were torpedoed for 25 years. In the end, what will happen is that Netanya and Acre will build new marinas, and then we can cry that hotels are being built there and not in Haifa. It was probably not just that the person who was brought in as an expert in the management of maritime activities resigned - he left after two years, apparently realizing that the Greens would get anything stuck in the courts
Kiryat Ata
According to a survey by the Central Bureau of Statistics, apartments in the Haifa district have increased, but in the segmentation of the data in Haifa in particular, there is a 3% decrease in the second quarter of 2021. The increases that the "experts" note here appear to be multiples of 3 and 4 compared to 2007, but they forget to mention that the prices in the city were at an all-time low And there were apartments that were sold for NIS 100,000 or less, this is not a price that reflects a "price list" price, but the humiliation of sellers in a market where there were no buyers.
As a resident of the neighborhood, I always laugh because these are promises for 30 years, since I was a child, and even if most of us signed here with the developers, the municipality has already expressed reservations about all these multipliers that the developers demand, and it appears that many buildings will go to thickening the construction, which in the vernacular is Tama and not a building removal And this is a two-year process in the city and in a normal municipality in Haifa that has been going on for 3 decades.
Cheap apartments in the best neighborhoods of Carmel.
The highest yield + the greatest potential for improvement + neat neighborhoods with a quiet landscape and a high-level population and the most reputable educational institutions. The prestigious neighborhoods will always maintain a price gap from the others. This is also the case in Tel Aviv and Jerusalem.
There is nothing to do for Carmel in Haifa, there is no substitute..
As for Bat Galim suffering from flooding and noise nuisance because of the hospital and visitors to the beaches, be careful to buy only the 3rd floor and above!!
Bat Galim, a neighborhood in anticipation of BHD to vacate the neighborhood - I don't see that happening in the next twenty years. Another problem is that two additional train lines that are going to be built next year will only add terrible noise all hours of the day.