Bat Yam Apartment Sells Below Purchase Price After Four Years on Market
A 2.5-room apartment in Bat Yam sold for 1.62 million shekels, lower than its 2022 purchase price, as real estate experts note shifting market dynamics.
A 2.5-room apartment spanning 57 square meters on HaShikma Street in the southwestern neighborhood of Bat Yam was sold for 1.62 million shekels. Located on the fourth and top floor of a building equipped with an elevator and parking, the property comes with future upside potential as residents are currently negotiating a pinui-pinui urban renewal project with a developer.
The apartment was originally listed at 1.73 million shekels and spent about three months on the market. The sellers, a young family who bought the unit as an investment in 2022 for 1.66 million shekels, decided to sell it to purchase another residential property. The buyers are a young couple who also acquired the apartment for investment purposes.
Shiri Noa Hasson, owner and CEO of a real estate agency in the central region, noted that sellers who bought during the peak must adjust their expectations. "Those who bought at the peak and want to sell today must realize they will likely sell at a lower price. In this case, the sellers understood the market situation, and the price quickly dropped to 1.67 million shekels before closing at 1.62 million shekels," she explained.
According to Hasson, the Bat Yam real estate market is showing signs of recovery, driven by returning investors and demand from foreign residents. "I am in contact with clients from the US, mainly Los Angeles, and European countries like the United Kingdom, Germany, and Italy. I market properties along the coastline, and foreign demand is heavily concentrated there," she added, noting that while inventory remains high and buyers hold the upper hand, price drops appear to have stabilized.
Recent secondary market transactions across Israel also reflect diverse regional pricing. In Jerusalem, a 4-room apartment on Shmuel HaNavi Street sold for 5 million shekels, while a 3-room unit on Haim Habib Street in Kiryat Yovel fetched 2.19 million shekels. In Ramat Gan, a 4-room apartment on Ruth Street in the Haruzim neighborhood traded for 5.07 million shekels. In Dimona, a 3-room apartment on Ben Gurion Street changed hands for 670,000 shekels.
