Foreign resident buys seven Jerusalem apartments

A foreign resident has bought seven new four-room apartments in the New Talpiot project in Jerusalem for NIS 27 million. Some of the apartments purchased are 106 square meters with a balcony, parking and storage room, and overlook a park, while others are smaller 99 square meter apartments. The average price of an apartment in the deal was NIS 3.86 million and the price per square meter was NIS 38,500.

The New Talpiot project is in the Balilios Lot between Bethlehem Street and Haroshet Street in Talpiot, near the industrial zone. The area was originally zoned for industry and workshops, and to this day, small businesses such as garages, printing houses, carpentry workshops and the like operate there. As part of the Jerusalem Municipality’s plan to rezone such areas for residential and mixed-use purposes, a master plan was drawn up for the area. Some of the planned nearby projects include high-rise residential buildings.

New Talpiot is being developed by the Balilios Group, M. Aviv and the Rosenzweig and Baruch families. The project is based on a 2014 plan by the Mann Shinar architects firm, which includes a large internal park, a boulevard commercial and public areas, with proximity to educational institutions, synagogues and public transport.

According to the plan, eight buildings will be constructed on the site – four along Bethlehem Streets, one between Bethlehem and Haroshet Street and three buildings on Haroshet Street. The four buildings on 158-166 Bethlehem Road have been completed and occupied and in total include 200 housing units. Each building has 12 flkoors. Four additional buildings will be 11-floors high and include 192 apartments with 2-5 rooms, garden apartments, mini-penthouses and penthouses.

Balilios Group chairman and co-CEO Eli Belilius said, “The growing interest from buyers from abroad is related to the neighborhood and the way the area has been designed. The demand reflects a preference for projects that are not based on towers, but rather those that combine balanced urban planning, accessibility and a sense of belonging.”

Prices for new apartments in Jerusalem start at more than NIS 30,000 per square meter and can reach more than NIS 100,000 per square meter. In previous deals in the project, prices started at NIS 35,000, and on high floors have even crossed the NIS 40,000 per square meter mark.

In a nearby project by Aura, an urban renewal project in the Officer Silver complex at 119-121 Bethlehem Road, which includes towers with more than 40 floors, deals have even fetched NIS 43,000 per square meter. On the other hand, in Givat Hamatos, which is immediately south of the Talipot, apartments are being sold for NIS 35,000 per square meter.

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So it seems that the price paid for the seven apartments is within the market price range. This is according to the prices of previous apartments sold in the project, but also taking into account other projects being built nearby, and other factors like the need to rezone the Talpiot area.

Real estate appraiser Kobi Bir says, “The area is about to undergo major changes. Tall towers have been approved along the nearby Hebron Road, as the light rail will run past there. I believe that in 10 years the place will change completely. Regarding this, the price level of roughly NIS 38,000 per square meter is included in the price range prevailing in the area, and I would say that it is even at the high end of it.”

Published by Globes, Israel business news – en.globes.co.il – on February 22, 2026.

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