With TAMA works starting: how much did investors pay for a 3-room apartment in Bat Yam?

On Bar Yehuda Street 3, in the southwestern neighborhood of Bat Yam, a 3-room apartment measuring 76 sqm was sold for 1.63 million shekels. The unit is located on the first floor and includes a registered parking space. There is no elevator in the building.

The apartment was recently renovated, and in the last few days, a TAMA 38/1 project has commenced. Under this project, a protected space (MAMAD) of approximately 9 sqm and a balcony of about 6 sqm will be added to the apartment, and an elevator will be installed in the building. Completion is expected in about two and a half years, and tenants will remain in the building during construction.

The asking price was 1.7 million shekels, and the property was on the market for about a month. The sellers inherited the apartment, and the buyers are a young couple from Holon who purchased it for investment purposes.

"A challenging market"

Shiri Noa Hasson, owner and CEO of a real estate agency in the central region, who represented both sides of the deal, states: "The southwestern neighborhood of Bat Yam is highly sought after due to its proximity to the sea and the light rail. It is a family-oriented area with parks, schools, and significant urban renewal activity."

"Without the TAMA project, I estimate the apartment's price would have been 1.57–1.58 million shekels. Given its size, parking, and central location on Bar Yehuda Street, this is not a 'cheap' apartment."

"There is currently a large supply of second-hand apartments in the city, with smaller 2.5-room units available for as low as 1.5 million shekels, some of which are also in various stages of urban renewal. There are many opportunities in the market, and we are starting to see movement from investors looking to capitalize on them. We are also seeing the beginning of movement among home upgraders who want to take advantage of current market conditions."

"The market is improving, but it remains challenging. I use various marketing tools on social media to stand out and reach new audiences—people are on their phones all day, and I try to leverage that. I sold the most expensive penthouse in the city through TikTok."

Second-hand apartments sold

Petah Tikva

Menachem Begin Road (Hadar Ganim): 4-room apartment, 87 sqm, 5th floor out of 14, parking — 2.88 million shekels.
Zichron Yaakov Street (Em HaMoshavot HaVatika): 3-room apartment, 85 sqm, 4th floor out of 7, double parking — 2.25 million shekels.
Abarbanel Street (Tkuma): 4-room apartment, 92 sqm, 3rd floor out of 4, parking — 2.07 million shekels.
Rafaeli Shraga Street: 4.5-room apartment, 109 sqm, 5th floor out of 17, double parking — 3.05 million shekels.

Yokneam

Derech HaArgaman: 4-room apartment, 102 sqm, 5th floor out of 8 — 2.56 million shekels.
HaHardufim Street: 4-room apartment, 80 sqm, 2nd floor out of 4 — 1.21 million shekels.

Netanya

HaRav Yana Street (old neighborhood): 4-room apartment, 100 sqm, 4th floor out of 7, parking — 2.1 million shekels.
Ben Gurion Boulevard: 5-room apartment, 215 sqm, 1st floor out of 20, two parking spaces — 5.35 million shekels.
Shalom Aleichem Street: 5-room apartment, 124 sqm, 4th floor out of 10 — 2.7 million shekels.
Yosef Lapid Street: 4-room apartment, 132 sqm, 11th floor out of 34, parking — 4.35 million shekels.

Ashkelon

Emek HaEla Boulevard (Agamim): 3-room apartment, 87 sqm, 6th floor out of 13, parking — 1.47 million shekels.
Aryeh Tagar Street (Barnea G'): 4-room apartment, 157 sqm, 4th floor out of 9, parking — 2.48 million shekels.
HaAvoda Street (Ramat Eshkol): 3-room apartment, 48 sqm, 3rd floor out of 3 — 920,000 shekels.
HaShoftim Street: 4-room apartment, 79 sqm, 1st floor — 1.36 million shekels.

Kiryat Yam

Irus Street (city center): 4-room apartment, 100 sqm, 2nd floor out of 14, parking — 1.82 million shekels.
Eli Cohen Street (near the sea): 3-room apartment, 54 sqm, 4th floor out of 5 — 1.25 million shekels.

All transactions are sourced from the Israel Tax Authority.