A 132 square meter, five room 20th floor apartment with a 28 square meter balcony overlooking the marina in Ashkelon with an open view of the sea has been sold for NIS 4.37 million.
The apartment is in the Dimri Yama project comprising three 24-floor towers at the junction of Yafe Nof and Moshe Dayan Streets. The towers are opposite the Marina Mall and the apartments are expected to be occupied in February 2026. There are five apartments on each of the first 19 floors and four apartments on the 20th to 24th floors. The project has a fitness room, dry sauna, lounge for tenants with a small kitchen and furnishings and air-conditioned lobby.
According to the Israel Tax Authority, apartments in the project have been selling for NIS 28,000 per square meter with prices reaching NIS 40,000 per square meter in the smaller apartments. This latest deal on the 20th floor represents NIS 33,000 per square meter.
The highest amount paid in the project was in another tower where a 177 square meter penthouse on the 24th floor with a 35 square meter balcony was sold for NIS 6.09 million.
Above the marina, there are apartments that were built over the seafront in the late 1990s and early 2000s. These projects mostly include small 2-3 room apartments, and prices are about NIS 18,000 per square meter. Newer, larger apartments in nearby projects reach prices of about NIS 20,000 per square meter.
Y.H. Dimri (TASE: DIMRI) VP marketing Amir Cohen says that the apartment is especially luxurious with a panoramic view of the sea in three directions, 150 meters from the seafront and this is what attracted the buyers.
He says, “The apartment was bought by a family of new immigrants from the US. Not a young couple, he works in high-tech and she is an architect with family in Israel. In the first stage this will be a vacation home for them. Within a few years they will become pensioners and they plan to immigrate to Israel.”
The couple saw the apartment with an agent and within a week they made a decision with the sea view a top priority for them.
Cohen says, “We see a clear trend of increasing interest from North America, and specifically in this project. About 30% of the buyers are Americans. Half of them intend to live here, and the rest are purchasing vacation apartments for use four-five months a year.”
Real estate appraiser Erez Cohen says, “This is a high price by Ashkelon terms – about NIS 30,000 per square meter, in fact, one of the highest prices we have seen in the city, especially for a regular apartment (not a penthouse or garden apartment). However, there are several reasons for this. The apartment is in one of the most sought-after locations in the city – Yaffe Nof Street, right on the coastline, in a prestigious project with high-quality technical specifications and a full sea view will remain open.
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“In addition, it is a high floor, which adds significant value, both in terms of the view and in terms of the feeling of privacy and luxury. The Ashkelon market has undergone an upheaval recently, but luxury apartments in prominent projects like this still maintain demand from a strong population, including those buying a bigger apartment and foreign residents.
“To sum up, this is an unusual deal in terms of price, but not disconnected from the local reality of the luxury segment in the city. It reflects the potential of certain areas in Ashkelon, and especially the demand for quality properties with open sea views – even in a complex period.”
The price level of the project in general and the apartment that was sold in particular are probably the highest in the city for high density construction projects. However, the level of the specifications is almost non-existent in competing properties in the area.
Published by Globes, Israel business news – en.globes.co.il – on April 20, 2025.
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