Over 10,000 Register for Discounted Haifa Apartments Amid High Demand
Over 10,000 people registered for the Discounted Apartment lottery in Haifa, driven by a 50% price cut on 3-room units. The state also allowed housing upgraders to participate for the first time in three years.
More than 10,000 people registered over the weekend for the Discounted Apartment lottery in Haifa, according to data from the Ministry of Construction and Housing, which recently launched a new tender including housing upgraders.
The massive turnout is largely driven by unprecedented pricing. A 3-room apartment in the project being built by Shtit south of Neve Paz is priced at 842,000 NIS, representing an estimated 50% discount compared to prevailing market rates in the area. Such 3-room units are currently a rare commodity in this part of the city.
Return of Housing Upgraders
This marks the first time in over three years that the state has allowed housing upgraders to participate in the lottery. The shift enables thousands of families who no longer qualify as first-time homebuyers to enter the draw, provided they sell their current home within 12 months of taking possession of the new property. Registration remains open for another week.
Beyond Haifa, the housing lottery includes offerings in several other cities across the country. In Beit Shean, two 3-room apartments are listed at 488,000 NIS each, while Dimona features six units priced at 581,000 NIS by developer Abal Building and Development.
High Demand in Harish
Meanwhile, Harish is seeing substantial interest with over 6,300 registrants vying for 53 larger units. Prices in Harish stand at 1.634 million NIS for 5-room apartments and 1.894 million NIS for 6-room units, reflecting the larger sizes offered.
Market analysts note that while Beit Shean and Dimona also offer below-market pricing, the disparity with existing local supply is less dramatic than in Haifa. In nearby Neve Paz, standard 4-room apartments command between 2.4 million and 2.55 million NIS, making the Haifa lottery an exceptional opportunity for buyers from Haifa, Nesher, Atlit, Tirat Carmel, the Krayot, and Yokneam.
