Foreign residents buy Savion home for NIS 17.5m

A 450 square meter villa in Savion has been sold for NIS 17.5 million. The property includes a seven-room, 400 square meter house and small 50 square meter guest house on a 1,200 square meter lot. The deal was completed through the Montefiore Real Estate Group, which specializes in luxury properties.

Savion is one of Israel’s most expensive towns although prices are lower than those in Herzliya Pituah and do not regularly break national price records as in Galei Tachelet Street on Herzliya seafront. A comprehensive examination of the properties sold in Savion over the past year shows that fewer than 10 transactions were registered with the Tax Authority, and they ranged from NIS 10.6 to NIS 18.4 million – most of them around NIS 14 million.

There are of course luxurious homes in Savion that are worth more, and the Tax Authority website lists transactions for over NIS 20 million.

The villa in question was built on the basis of a building permit issued at the end of 2007. The property was built on the site of a demolished home and the design of the place was inspired by 19th-century Arab architecture. The asking price for the villa started at NIS 18.5 million, but in the end it was sold for NIS 1 million less.

Taking into account land costs and construction costs and the extremely high standard construction, but 18 years old, perhaps a higher price could have been obtained. However, a property, of course, is not only its land and construction costs, but also includes personal perceptions and the market situation. In comparison with the price of other properties that have recently been sold in Savion, the transaction price is reasonable.

Montefiore Real Estate Group CEO Roy Kaner says, “This transaction clearly illustrates the global nature of the luxury market in Israel, and in particular in the prestigious localities. The buyers are foreign residents, which emphasizes the continued international interest in premium properties in Israel, even at a time when activity in the market is limited.

“The property itself is exceptional in its nature and is a true work of art. The house is entirely clad in Jerusalem stone, including the unique Jerusalem slab stone, intricate stonework in the rock carried out by exceptional individuals who specialize in this type of work, and especially high levels of finishing. This is a style that is not common today in Savion, where most new construction tends towards modern lines. This uniqueness required a very precise and focused marketing process, both in the local market and in the international arena, to find buyers who appreciate the architectural and artistic character of the house.

“Savion is a prestigious town where very few deals have been conducted in the past year, and therefore every significant transaction takes on special weight and testifies to the importance of exposing luxury properties in exclusive areas to a foreign audience, especially at a time when the security situation of Jews abroad is precarious and many Jews are looking for alternative homes.”

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Appraiser Oshri Aharoni says, “This is a unique property located in the heart of the town, in one of the most sought-after areas. The value of the land in this area is estimated at about NIS 11,000 per square meter, so the value of the land alone is estimated at about NIS 13 million. The remainder of the consideration reflects the value of the buildings, which were built using relatively expensive construction, which includes the use of Jerusalem stone, thick walls, and a unique architectural design with a Jerusalem influence.

“The estimated construction cost, taking into account the nature of the execution and the finishing materials, is estimated at NIS 6-8 million. In light of this data, the deal price reflects conservative pricing in relation to the location, the quality of construction, and the characteristics of the property, and can be seen as a transaction that was carried out at the low end of the price range accepted for similar properties in the heart of Savion.”

It is possible that at another time the property would have sold for a higher price, but these days are not considered good for luxury properties.

Published by Globes, Israel business news – en.globes.co.il – on February 2, 2026.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.