US couple buys Netanya seafront home for NIS 8m

A 136 square meter, five-room apartment with a 16 square meter balcony in the Sea Aviv project in the newly planned Shirat Hayam seafront neighborhood in Netanya has been sold for NIS 8.05 million.

Shirat Hayam will be a new, small and exclusive neighborhood overlooking the sea. The neighborhood is to the west of the Hashlulit Park and north of the Iris Nature Reserve. In August 2023, the Israel Land Authority (ILA) marketed six lots for 749 housing units in 16-19 floor towers. But then something interesting happened, While ILA assessors had valued the land at NIS 1.23 billion before VAT, bids only reached NIS 790 million – only 66% of the ILA’s estimated value. The reason was that the tender was issued at the low-point in 2023 after the Bank of Israel had hiked interest rates, and home prices and the number of deals were falling.

Last year, the trend changed and home prices rose, but this year they have fallen again, and the question that arises is how the companies price the apartments in the neighborhood, which offers a rare sea view. A close examination shows that only Aviv-Melisron has begun marketing its project in the neighborhood at an average price per apartment of around NIS 53,000 per square meter.

Prices in Shirat Hayam should be compared with homes in Netanya’s luxury neighborhood of Ir Yamim to the south of the Iris Nature Reserve, and prices in Net-600, which is about a kilometer to the north. Home prices in Ir Yamim have reached about NIS 48,000 per square meter, and in Net-600 a small number of deals have been completed at NIS 38,000 per square meter.

For further comparison, hundreds of meters north of the Aviv-Melisron project, another coastal project is being marketed, which is not included in Shirat Hayam, and deals have been closed at NIS 45,000 per square meter.

Sea Aviv by Aviv-Melisron, in Shirat Hayam is in the southwestern part of the complex, so that the view from it will remain open to both the sea to the west and the Irisim neighborhood to the south, making it a project in a premium location in the complex.

Upon completion, the project will include two towers of 15 and 16 floors, including 125 3-6 room apartments, huge garden apartments and penthouses with private pools, all within easy walking distance of the sea.

To the west of the project, on the cliff, a hotel will be built that will be built to the height of the cliff and therefore will not obscure the view from the apartments.

The deal represents a price of NIS 56,000 per square meter, which is about 5% higher than the average price of apartments in the project. The gap should be attributed to the floor – the 13th floor out of 15 floors – and the open view.

One of the penthouse apartments in the project was sold last week for NIS 15.9 million, and overall it seems that the price of this apartment and the price of other apartments in the project, and between the prices of apartments in the project and prices of apartments in other luxury seafront neighborhoods in Netanya, are reasonable.

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Realtors Tomer and Ido Sinai from Sinai Properties Group, who acted in the deal said, “The buyers – a couple in their 60s from New York – are planning to use the apartment as a vacation home. The price is definitely the market price. The land reserves on Israel’s coastline are running out and they bought in a winning location, not far from Herzliya and Tel Aviv, where prices are double.”

Aviv Melisron CEO Tzachi Didi said, “The Sea Aviv project in Shirat Hayam is a luxury project in a unique location, first line to the sea, in the heart of a new neighborhood that has been carefully planned, and is expected to become the Netanya Riviera. This is a classic Aviv-Melisron development project, which promises buyers a luxurious living experience and high quality of life. We are proud to be the first to go on the market in the neighborhood, which is expected to become one of the most sought-after in the city.”

Published by Globes, Israel business news – en.globes.co.il – on November 3, 2025.

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