A 460 square meter, nine-room house on a 707 square meter lot on Brandeis Street in Haifa’s Central Carmel has been sold for NIS 10 million. The property has the highest quality finishing and includes a swimming pool.
High-end in Haifa: Finding a deal for NIS 10 million or more in Haifa is a more difficult task than finding a deal for NIS 50 million or more in Tel Aviv. Over the past decade, an average of just one deal in Haifa for NIS 10 million or more has been completed each year, while in Tel Aviv more than two deals per year for NIS 50 million or more have been completed. Therefore, it is important to briefly review the high-end market in Haifa to understand the background to the current deal.
Unlike high-end deals in Tel Aviv, which are mainly for penthouses, Haifa’s high-end market focuses principally on detached houses, mainly in the Danya neighborhood, but not only. About five years ago, for example, a detached house was sold on Yefe Nof Street for NIS 13.4 million.
On Brandeis Street and the adjacent Sderot Hanasi, several other homes have been sold for very large amounts, as well luxury apartments in new high-rise projects, which take advantage of the location with sea views in three directions (north, east and west). The houses were sold on the north side of Sderot Hanasi, which is opposite the side where the house in Brandeis Street has just been sold.
The house was built in the 1950s, and was bought by the current sellers in 2006, who undertook comprehensive renovations, and added about 200 square meters, with extremely high levels of finishing at an investment of millions of shekels. A swimming pool, a smart home system and home theater, and even an indoor mikveh were added to the property.
Brandeis Street is a small street that connects Sderot Hanasi to Tishbi Street, just below the Nof Hotel. At its intersection with Tishbi Street, Brandeis Street leads onto a path that descends towards the wadi below. The house is at the end of that path, which makes it secluded, with a clear view. This feature, as well as the size of the property and the quality of the finishing and design of the building, are the house’s greatest advantages.
The house was on the market for several years. Two years ago the asking price started at NIS 16 million, based on the size of the home and the impressive finishing. However, reality has proven that these were not sufficient to justify the high price tag. It is likely that there were potential buyers who did not like the accessibility of the property – going up and down a path – and the fact that it is surrounded by taller buildings.
Taking into account all the circumstances, the price is within reasonable limits and the fact that a transaction of this magnitude has never been completed in the area speaks for itself.
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Appraiser Asi Avni says, “The deal was closed for an amount that is, on the one hand, lower than the published asking price, but nevertheless reflects a relatively high price level for the area in Haifa where the property is located.”
He adds, “When examining properties of this type, they are not priced directly based on the value per built-up square meter alone, as these are unique properties in which there are additional parameters such as the size of the lot, the characteristics of the property and the level of finishing.
“However, each factor actually has a ‘glass ceiling’ in terms of prices, reflecting the level of demand and the willingness of buyers to pay. In other words, even for a particularly high-quality property, there is a regional price limit beyond which demand is significantly reduced, so that in practice buyers don’t pay amounts above the threshold of about NIS 10 million in this area.
“In this context, the total amount of the transaction places the property at the upper end of the local price range, and it is likely that buyers with such a budget would also consider alternatives in more sought-after areas.”
Arthur Reuven, the real estate agent who brokered the deal, says closing the deal required, “Help from heaven and business precision.” He adds, “The villa in question was on the market for about two years and was handled by the major brokerage firms, but without success. My motto is to bring the right person, not lots of people. The transaction was not easy at all. The buyer is a person who was looking for a property in a completely different location, but was enthusiastic about the house after I suggested he visit it. After that, negotiations between the parties took about five months, until the final contract was signed.”
Published by Globes, Israel business news – en.globes.co.il – on April 13, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
