A 117 square meter, four-room, fourth and fifth floor penthouse apartment with a 35 square meter balcony in a new project on Hubert Humphrey Street on Haifa seafront has been sold for NIS 6.2 million. The project comprises two five-floor apartment buildings at 17 and 19 Hubert Humphrey Street with a total of 20 apartments with a swimming pool for use by residents of the two buildings.
Hubert Humphrey Street is west of Bat Galim near the Stella Maris cable car terminal and is the closest street to the sea on which it is permitted to construct new homes. The apartment is only 40 meters from the seafront.
How is it possible to build a project so close to the sea in Israel where construction is prohibited within 300 meters of the coastline? It turns out that Haifa’s first master plan from 1934 allowed this, and the plans that followed did not eliminate this possibility. Hubert Humphrey Street, which leads to Israel Oceanographic and Limnological Research Institute, has remained partially empty since the plan was approved 91 years ago. In recent years, several buildings have been renovated on the street and several new buildings have been constructed, and at least one new project is currently being marketed on the street.
The street’s big selling point is its proximity to the sea. As in the case of Bat Galim Promenade, residents only have to cross the road to reach the sea. The big minus is behind the project to the east with the railway line and Road 4 almost bordering the lots.
There have been very few deals on this street, but the pace of price increases shows how hot the properties are there. For example, in October 2018, a penthouse apartment at 15 Hubert Humphrey Street was purchased for NIS 2.585 million, and two years later, in 2020, the apartment was resold for NIS 3.475 million – an increase of 34%.
An old 3-room apartment built in 1940 was sold two years ago for NIS 2.2 million. This deal is also a high price, reflecting the great potential of the street. 18 months ago, two 4-room apartments were sold on paper at 19 Hubert Humphrey for NIS 6 million. In the building where the current deal was closed, two 3-room apartments were sold a few months ago for NIS 3 and 3.4 million.
The last two deals reflect a price of NIS 43,000 per square meter. An examination of the new apartment market in Bat Galim shows that apartment prices near the sea reach NIS 35,000 shekels per square meter, while on seafront, one deal has been conducted in recent years, at a price of about NIS 43,000 per square meter, more or less the same as the prices obtained in the Hubert Humphrey project.
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In the current deal, the price received is about NIS 48,000 per square meter. Considering the uniqueness of the project and the apartment that was sold (a penthouse apartment with a large balcony), the price seems reasonable.
Appraiser Asi Avni said, “This is a rare deal for Haifa, which stems first and foremost from an exceptional location. A two-level penthouse with an area of 117 square meters, plus a 35 square meters of balcony, located only tens of meters from the seafront, is a very rare feature in the real estate market.
“For comparison, Hayarkon Street in Tel Aviv – one of the most sought-after locations in the country due to its proximity to the sea, is located about 100 meters from the seafront, so in this case it is a property that is significantly closer to the beach. The combination of such a location with the characteristics of a penthouse explains the high price level set in the deal – about NIS 53,000 per square meter (without balconies) – a level that does not reflect the general Haifa market but rather a unique and rare premium property.”
The bottom line: When the sea is open in front of you, and when the distance to it is particularly short, it is possible to reach “Tel Aviv” prices in the Haifa market as well. This is the most expensive 4-room apartment in Haifa.
Published by Globes, Israel business news – en.globes.co.il – on December 21, 2025.
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