Kiryat Yam Garden Apartment Sells for Record 5 Million NIS
A 5-room garden apartment in Kiryat Yam sold for a record 5 million NIS, setting a three-year high for the coastal city and surpassing local averages by 75%.
A record-breaking real estate transaction has been recorded in Kiryat Yam, where a 5-room garden apartment sold for 5 million NIS. According to data from the Israel Tax Authority, this is the highest price registered for a new apartment in the city over the past three years.
The luxury property is located in the beachfront "Shirat Hayam" project by the Nativ Group. The apartment spans approximately 143 square meters of built-up area and features a 172-square-meter private garden. The purchase price reflects roughly 35,000 NIS per square meter, soaring about 75% above the city's average market price for new apartments, which typically hovers around 20,000 NIS per square meter.
For comparison, the city's second-highest recent transaction involved a 181-square-meter apartment that sold off-plan for 4 million NIS, followed by another 156-square-meter unit that fetched 4 million NIS in April 2025. The buyers are a couple in their 50s currently residing in Kiryat Yam who decided to upgrade their living standards.
The "Shirat Hayam" project sits directly on the coastline and comprises 18 low-rise boutique buildings of just three floors each, totaling 172 housing units. Construction on the first phase began about a year ago and is advancing rapidly.
Kiryat Yam has experienced unprecedented development in recent years, driven by urban renewal initiatives and coastal projects. Property values in the city have surged by over 50% in the last five years, transforming the former working-class suburb into a sought-after destination.
Simcha Greidinger, CEO and owner of the Nativ Group, commented on the milestone: "The price in this transaction reflects a combination of rare features, including a true beachfront location, low-rise architecture, and an extensive residential complex. This is a large garden apartment in a prime location, commanding a significant premium over the city's average rates."
