No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Sunday, October 5, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Light rail boosts Jaffa home prices

by TheAdviserMagazine
3 weeks ago
in Business
Reading Time: 6 mins read
A A
Light rail boosts Jaffa home prices
Share on FacebookShare on TwitterShare on LInkedIn


While Tel Aviv is seeing a fall in the number of deals and apartment prices, a different picture is now emerging in Jaffa. The historic port city is experiencing strong demand, and according to real estate agents, prices are even rising in certain areas. The growing interest is attributed, among other things, to the operation of the light rail Red Line which has connected Jaffa directly to the heart of Tel Aviv.

The opening of the Red Line in August 2023, after a delay of about a decade, has brought about a significant change in public transport in the entire Tel Aviv metropolitan region and in Jaffa in particular. The line, which connects Bat Yam, Tel Aviv, Ramat Gan, Bnei Brak and Petah Tikva, has turned Jaffa into a central and much more accessible transit point.

“We began to see the increase in demand for apartments in Jaffa during the Covid period in the midst of work on the Red Line,” says Talya Bar, owner and partner of RE/MAX Advantage Jaffa real estate agency. “Even then, we saw an influx of large contractors like Acro and Hagag. Those companies understood that the opening of the Red Line would lead to the migration of people from central and northern Tel Aviv, as they were given the opportunity to pay lower prices than Tel Aviv and move around easily.”

Bar says that buyers in Jaffa are very diverse, both in terms of age and in terms of the purpose of the purchase. “The growing interest in Jaffa came from several directions. There are foreign investors who are discovering the potential in the city, and also young people who want to live in Jaffa and can find apartments that are slated for urban renewal projects at attractive prices.

Alongside this, we see a great many elderly Jerusalemites who are interested in moving home to Jaffa,” says Bar, explaining that Jerusalem and Jaffa share similar characteristics as ancient cities that attract many interested buyers from the capital of Israel. “The proximity to the sea and Tel Aviv, along with the opening of the Red Line, which completely upgrades the city’s transport capacity, attracts many retirees here,” she explains.

Another real estate agent who works in Jaffa is Omri Kakoon of the Harova agency. He agrees with Bar and says that the rise in prices is felt mainly in north Jaffa. “The northern part of the city has undergone a significant facelift, both in terms of how it looks and population.”





RELATED ARTICLES




Israeli real estate becomes market for wealthy


Tel Aviv home prices falling sharply


Tel Aviv light rail still underused






He says the rise in apartment prices in Tel Aviv has led to an influx of customers who are getting the quality of life they aspire to in Tel Aviv, at lower prices. “The rise in prices in the north of the city has also raised the quality of the population in the area.”

Increase in the number of urban renewal projects

According to Tel Aviv-Yafo Municipality data, the significant change in the number of permits received for urban renewal projects came with the opening of the Red Line in the city. Thus, between 2020 and 2022, no building permits were issued for any projects in Jaffa, and in 2023 only one building permit was issued. In 2024 six permits were issued, and as of August 2025, three additional building permits were issued in the city, for a total of 234 housing units.

One of the new projects in Jaffa is the Young Tel Aviv-Jaffa project, by the Hagag Group, on Sahron Street. The project, which is currently under construction, includes two 14-floor towers with 123 housing units, and covers 3,175 square meters. Hagag reported in its financial report for the second quarter that 34 contracts have been signed in the project so far, and that the average price per square meter is NIS 33,849.

Another project of interest in the city is the GO YAFO project. Acro won an Israel Land Authority tender with Ashdar to build 412 homes and commercial space on a 9 dunam (2.25 acre) lot, which was formerly the Maccabi Jaffa soccer stadium. The plan was approved in 2017 for 160 dunam (40 acres) between Heinrich Heine Street to the east, Nahal Sorek Street to the south, Nes Goyim Street to the north, and Gaza and Beersheva Streets to the west. 65% of the area is owned by the state and the rest by Tel Aviv-Yafo Municipality. After many delays, 1,460 homes will be built on the site, half of which will be in government subsidized projects, 48% of which will be for Tel Aviv residents including 30 for Jaffa residents, and 10 apartments for public housing residents.

Alongside housing projects, Tel Aviv-Yafo Municipality has begun building the first community center country club of its kind in Jaffa in 2023 – Beit Cherner, with five swimming pools, a spa, a gym and studio rooms, an auditorium, a gym and more, which is scheduled to open in 2026.

Depending on the neighborhood: a wide range of prices

When it comes to prices in the city, Bar says that the range is very wide, depending on the different neighborhoods. “In northern Jaffa – in the area of the flea market, Noga theater and the American Colony, prices can reach 45-50,000 per square meter, similar to prices in central Tel Aviv,” she explains.

However, Bar says that her office is also seeing an increase in demand in less attractive neighborhoods in Jaffa, which are scheduled to undergo future urban renewal, or are located near urban renewal projects. Bar gives an example of a deal that was recently signed in Jaffa D on Nardor Street. This is a 52 square meter, three-room, fourth floor apartment (without an elevator) with a monthly rent of NIS 4,300. The apartment is in the process of being demolished and rebuilt and was sold a month ago for NIS 1.82 million.

At the same time, Bar mentions another deal in the Tzahalon neighborhood on Tzihatli Street, where a 120 square meters, five rooms mini-penthouse with a storage room, two parking spaces and a balcony, was sold a few weeks ago for NIS 5.5 million.

Kakkon says that in north Jaffa, high demand also leads to certain deals closing above market price. He mentions a deal that was recently closed in north Jaffa at 6 Rabbi Tanchum Street (the Rova complex), which is near the flea market. A 62 square meter, 2.5-room apartment with a basement, and 20 square meters of balconies, a storage room, and two parking spaces was sold for NIS 3.8 million – above the market price. “Demand for the apartment was very high and in the end there were two buyers who were interested in closing the deal. One of them offered a higher price than the market price and our client closed with him,” he says.

Another deal he mentions is in the Eliphelet 26 project (the Ikea project) in the American colony on the border with Florentin. “This is a new project, with a gym, pool and security guard in the building. The 62 square meter apartment that was sold has two rooms, a 14-square-meter balcony, and includes parking. The apartment was sold at the beginning of the month at a record price in the complex, for NIS 3.9 million.

“There are quite a few opportunities hidden in the city”

Another agent in Bar’s office at RE/MAX, Kamal Abu Dahoud, who specializes in the Ajami neighborhood in Jaffa, explains that high interest rates have weighed on some of the city’s mortgage borrowers. “We are indeed witnessing a wave of demand in Jaffa, and part of it is also related to the potential that buyers recognize due to the relatively attractive prices for the area,” he explains.

In the old Ajami neighborhood, for example, which is near the beach, a large 180 square meter garden apartment in a listed building with an 80 square meter yard is up for sale. According to an appraiser’s estimate, the apartment is worth NIS 4 million, but only NIS 3.5 million is being asked.

“The gap between the asking price and the price estimated by the appraiser is very large, we’re talking about NIS 20,000 + per square meter,” says Abu Dahoud. “It’s very difficult to find such deals in Jaffa, but there are apartment owners who are forced to lower prices due to high interest rates, after mortgage payments have risen greatly.”

Abu Dahoud’s believes that one day Jaffa will be “One of the most expensive cities in the world,” and he estimates that the wave of interest stems from the recognition of the long-term potential for profit in the future.

Published by Globes, Israel business news – en.globes.co.il – on September 11, 2025.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.




Source link

Tags: boostsHomeJaffaLightPricesrail
ShareTweetShare
Previous Post

Novo Nordisk tells staff to return to office full-time amid CEO’s revival effort

Next Post

European Central Bank interest rate decision, September 2025

Related Posts

edit post
Shekel strengthens as hope for Gaza deal rises

Shekel strengthens as hope for Gaza deal rises

by TheAdviserMagazine
October 5, 2025
0

The shekel has strengthened against both the US dollar and the euro following President Trump's post on the prospects of...

edit post
During a White House meeting, Hakeem Jeffries spotted a ‘Trump 2028’ hat and asked JD Vance ‘Hey, bro, you got a problem with this?’

During a White House meeting, Hakeem Jeffries spotted a ‘Trump 2028’ hat and asked JD Vance ‘Hey, bro, you got a problem with this?’

by TheAdviserMagazine
October 4, 2025
0

“Trump 2028,” they said, situated across from the seated lawmakers, Vice President JD Vance and several untouched Diet Cokes. House Democratic leader...

edit post
Stellantis said to plan  billion in U.S. turnaround investments

Stellantis said to plan $10 billion in U.S. turnaround investments

by TheAdviserMagazine
October 4, 2025
0

Stellantis NV is planning to invest about $10 billion in the US as the troubled maker of Jeep sport utility...

edit post
Trump to federalize 300 members of the Illinois National Guard ahead of expected deployment to Democratic state

Trump to federalize 300 members of the Illinois National Guard ahead of expected deployment to Democratic state

by TheAdviserMagazine
October 4, 2025
0

The Trump administration plans to federalize 300 members of the Illinois National Guard, Democratic Gov. JB Pritzker said Saturday. Pritzker...

edit post
Spot crypto ETFs outperform trusts and strategy funds (BTC-USD:Cryptocurrency)

Spot crypto ETFs outperform trusts and strategy funds (BTC-USD:Cryptocurrency)

by TheAdviserMagazine
October 4, 2025
0

Chinnapong/iStock Editorial via Getty ImagesInvestors seeking bitcoin or ether exposure without directly holding coins now have three main choices: crypto...

edit post
If you’re not an AI startup, good luck raising money from VCs

If you’re not an AI startup, good luck raising money from VCs

by TheAdviserMagazine
October 4, 2025
0

Image Credits:Getty Images New PitchBook data illustrates how dramatically AI is dominating startup investment, with 2025 on-track to become the...

Next Post
edit post
European Central Bank interest rate decision, September 2025

European Central Bank interest rate decision, September 2025

edit post
Solomon, Dimon, Pick weigh in on the state of the economy

Solomon, Dimon, Pick weigh in on the state of the economy

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
Tips to Apply for Mental Health SSDI Without Therapy

Tips to Apply for Mental Health SSDI Without Therapy

September 19, 2025
edit post
Shekel strengthens as hope for Gaza deal rises

Shekel strengthens as hope for Gaza deal rises

0
edit post
Dave Ramsey on X: 3 Simple Steps to Tackle Debt Even With a Small Paycheck

Dave Ramsey on X: 3 Simple Steps to Tackle Debt Even With a Small Paycheck

0
edit post
Global demand for US master’s degrees plunges by 60%

Global demand for US master’s degrees plunges by 60%

0
edit post
First Circuit Rules Trump’s Birthright Citizenship Executive Order is Unconstitutional

First Circuit Rules Trump’s Birthright Citizenship Executive Order is Unconstitutional

0
edit post
What You Need To Know Ahead of Tesla’s Earnings Release

What You Need To Know Ahead of Tesla’s Earnings Release

0
edit post
The Economics of AI: Dispelling Fears and Embracing Entrepreneurship

The Economics of AI: Dispelling Fears and Embracing Entrepreneurship

0
edit post
Shekel strengthens as hope for Gaza deal rises

Shekel strengthens as hope for Gaza deal rises

October 5, 2025
edit post
Key Price Breakout Sets Dogecoin On 153% To Clear alt=

Key Price Breakout Sets Dogecoin On 153% To Clear $0.65 In Quick Succession

October 4, 2025
edit post
Robert Kiyosaki Wants to Vomit as Buffett Words Signal Crash Ahead, Doubles Down on Bitcoin

Robert Kiyosaki Wants to Vomit as Buffett Words Signal Crash Ahead, Doubles Down on Bitcoin

October 4, 2025
edit post
During a White House meeting, Hakeem Jeffries spotted a ‘Trump 2028’ hat and asked JD Vance ‘Hey, bro, you got a problem with this?’

During a White House meeting, Hakeem Jeffries spotted a ‘Trump 2028’ hat and asked JD Vance ‘Hey, bro, you got a problem with this?’

October 4, 2025
edit post
Stellantis said to plan  billion in U.S. turnaround investments

Stellantis said to plan $10 billion in U.S. turnaround investments

October 4, 2025
edit post
Stablecoin Yield Means Banks Must Now offer Customers Real Interest

Stablecoin Yield Means Banks Must Now offer Customers Real Interest

October 4, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Shekel strengthens as hope for Gaza deal rises
  • Key Price Breakout Sets Dogecoin On 153% To Clear $0.65 In Quick Succession
  • Robert Kiyosaki Wants to Vomit as Buffett Words Signal Crash Ahead, Doubles Down on Bitcoin
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.