Ashdod Luxury Apartment Sells for 6.46 Million NIS at Seafront Project
A luxury 5-room apartment in Ashdod sold for 6.46 million NIS at the Gabai Group's The Lux project. The buyer, a Swiss-French resident of Geneva, highlights rising foreign demand for prime coastal real estate in Ashdod.
Ashdod Real Estate Market Hits New High with Luxury Sales
Housing prices in Ashdod vary significantly between neighborhoods, highlighting the stark contrast between the Marina area and the city center. Proximity to the sea heavily influences these valuations. While many French buyers traditionally settle in Netanya due to its proximity to the center, Ashdod continues to attract international capital. Recently, a major real estate transaction was recorded—the second-highest for a 5-room apartment in the city since the beginning of the year, totaling 6.46 million NIS.
The most expensive apartment sold this year fetched a nearly identical price of 6.5 million NIS, also located in a seafront project. That sale involved a 5-room apartment spanning 155 square meters, while the latest transaction featured an even larger residence. The property was sold in the The Lux project by the Gabai Group. Within a short period, over 30 apartments were sold in the project with a total volume of approximately 156 million NIS, illustrating the soaring price levels of Ashdod's premium residential segment.
Luxury Seafront Demand and International Buyers
Recent market data shows Ashdod as one of the leading cities experiencing a surge in new apartment sales. The newly sold unit is a 5-room apartment located on the 12th floor, priced at 6.46 million NIS, compared to the project's average apartment price of 5.33 million NIS and an average price of roughly 37,000 NIS per square meter. The buyer resides in Geneva and holds dual Swiss and French citizenship, joining other foreign and domestic investors.
The project is situated directly on the coastline near the Lido Beach in Ashdod, adjacent to the new promenade. The complex comprises two residential buildings featuring approximately 103 apartments, including 3-to-5-room units, mini-penthouses ranging from 140 to 160 square meters, and luxurious penthouses. Alongside the residential towers, a 5-star hotel will be built in partnership with the Prima hotel chain, featuring over 200 rooms, suites, a spa, fitness facilities, a business lounge, and dedicated concierge services.
"The transaction reflects Ashdod's ability to generate high-end residential demand, where location and product quality create value far beyond the apartment itself," says Orit Gabai Tirer, VP of Marketing and Sales at the Gabai Group. "The demand we are seeing, including from foreign residents, reinforces the understanding that buyers today are looking for an upscale residential experience rather than just four walls."
Real estate experts emphasize that coastal developments in Ashdod are reshaping the city's demographic and economic landscape, drawing affluent buyers who seek long-term investments paired with resort-style living.
