Ramat Hasharon house for demolition fetches NIS 8.8m

A 140 square meter old house on Komemmiyut Street in Ramat Hasharon on a 352 square meter lot has been sold for NIS 8.8 million. The house is in the Neve Rassco neighborhood in the south of the city near Road 5. Komemmiyut Street itself is a secluded road on the western edge of the neighborhood.

The area around the house is largely characterized by detached and semi-detached houses. The size of the lots in the neighborhood are relatively small – 200-300 square meters, on which the houses have been built, but there are also larger plots, on which terraced homes and bigger houses have been built. On these lots, it is possible to build a 200 square meter house with a basement.

The existing inventory in the area consists of a great many old houses, which in most cases are purchased for demolition and rebuilding.

It is not easy to analyze deals for detached houses, which can be very distinct from one another. A review of deals carried out in the area in recent years shows that the price of old houses (from the 1960s and 1970s) on lots of about 300 square meters that were sold for NIS 7-8 million.

Assuming that most of these houses are intended for demolition or at least for renovation from the ground up, extracting the land component from the price increases the average order of magnitude by NIS 30,000-35,000 per square meter in building rights (or per square meter under construction).

The current transaction exceeds the accepted price range for houses in Neve Rassco, and the exception is likely related to the location of the property – the house is on the west side of the street, which faces the fields between Neve Rassco and Moshe Sena Street, the road that leads to the Kfar Hayrok interchange. It is likely that in the future the fields will become built-up areas, but for now the open view increases the value of the property. Another issue that increased the value of the house is that it is detached and the lot on which it was built is relatively large for the neighborhood.

The value per square meter of the building reaches NIS 36,000 per square meter – above the usual range.

Miri Ofek, the realtor that brokered the deal says, “The house was sold as a lot of land to a young couple who work in the high-tech field, after the owner decided not to build it himself, but to sell to others. The property had been rented for a long time.” In the first transaction, a 163 square meters, two floors semi-detac hed house was sold at 1 Komemmiyut Street, on a corner lot of about 250 square meters, for NIS 7.17 million. The house was purchased by an upwardly mobile couple who returned to the city after living in Tel Aviv. It was sold following the realization of estate assets, and according to Ofek, its price was fair in relation to the land area and condition of the house, which needed huge renovation.

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The second house is across from the property at 10 Komemmiyut Street, and its previous owners had already demolished the old building and built a new house, which, according to Ofek, is a “beautiful and architecturally designed, two-floor house.” The built-up area of the house, which is part of a semi-detached house, is about 210 square meters on a 275 square meters lot. The house is six years old, has a corner garden, and was sold for NIS 10.1 million to a family with children.

“The transactions are fundamentally different, which has led to the large variation in prices. Overall, each of them reflects a fair market value for the property purchased,” stresses Ofek

With regard to the prices prevailing in the neighborhood, the price of the house now sold on Komemmiyut Street is 10%-15% higher, however, reflecting its advantages as a detached house overlooking the fields. It can be estimated that when its new owners complete the construction, its new value will be one of the highest in Neve Rassco.

Published by Globes, Israel business news – en.globes.co.il – on November 10, 2025.

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