Netanya Kiryat HaSharon Sells 5-Room Apartment for 2.48 Million NIS
A 5-room apartment in Netanya’s Kiryat HaSharon on Bnei Reicha Street 4 sold for 2.48 million NIS. The 125-square-meter unit includes a 14-square-meter balcony, a 4-square-meter storage room, and private parking.
A 5-room apartment in Netanya’s Kiryat HaSharon has been sold for 2.48 million NIS, according to the transaction details. The deal concerns a 125-square-meter home on Bnei Reicha Street 4, located on the third floor of a 17-story tower.
The apartment comes with a 14-square-meter balcony, a 4-square-meter storage room, and private parking. The building has 17 floors and is part of a residential project that, as described in the transaction context, includes only 5-room apartments.
Kiryat HaSharon: a newer neighborhood near the stadium
Kiryat HaSharon is a relatively new neighborhood in the east of Netanya, positioned near the Merim football stadium. The area was developed based on a master plan dating back about 30 years, with construction largely carried out during the first one and a half decades of the 2000s.
A comparison of 4- and 5-room apartment deals in the neighborhood indicates a price drop of about 5% in the south-western part, close to the project where the analyzed transaction took place. In the current year, 4-room apartments reached an average price of 2.5 million NIS, while 5-room deals averaged 3 million NIS.
On a per-area basis, the average price comes to 23.5 thousand NIS per square meter.
The “Mechir L’Mishtaken” project and its pricing trajectory
The transaction is tied to a project built under the “Mechir L’Mishtaken” program at the south-western edge of Kiryat HaSharon. A building permit for the project was issued in October 2017. The development includes two towers, each with 17 floors and 65 apartments, with all units designed as 5-room homes.
The developer, Rami Shabiro, began marketing the apartments under “Mechir L’Mishtaken” in late 2017, pricing them at 12.5 thousand NIS per square meter. At the time, 5-room apartments were sold for an average of about 1.58 million NIS.
In 2024–2025, resale 5-room apartments began to be offered. Higher floors were sold for 2.8–3 million NIS, while lower floors were sold at the end of 2024 for 2.73 million NIS. Early this year, one of the garden apartments in the project sold for 3.9 million NIS.
What the 2.48 million NIS price signals
The 2.48 million NIS price for a 5-room apartment is described as one of the lowest figures recorded in these towers. In the nearby area, similar apartments are reported to reach around 3 million NIS on average. Even when factoring in the apartment’s 125-square-meter size, the effective price is about 20 thousand NIS per square meter, which is roughly 15% below the neighborhood average.
Some of the discount is attributed to the apartment’s lower floor—third floor. However, comparable sales in the project suggest the pattern is not only about height: a similar unit on the second floor in the second building sold for 2.73 million NIS at the end of 2024, and another similar apartment on the fourth floor sold for 2.6 million NIS in December 2025. In addition, a comparable apartment on the fourth floor in the second building was recently sold for 2.53 million NIS.
The transaction context therefore points to a broader price decline within the project that is sharper than the decline seen in nearby Kiryat HaSharon.
Broker: demand and prices are falling faster than in the neighborhood
The broker, Barak Neiman, said that he previously sold a 5-room apartment in the same project for 3 million NIS, but that unit was renovated and on a higher floor. Since then, he said, demand has weakened and prices have fallen at higher rates than the overall neighborhood decline.
“A large share of the apartments being sold are owned by people who bought them through ‘Mechir L’Mishtaken,’ but chose to rent them out rather than live in them. The result is that many units there remain at the ‘Mechir L’Mishtaken’ standard, which buyers naturally do not like. The location—near the stadium and the bridge leading into the neighborhood—is also not popular with residents. On the other hand, the lower prices can attract investors, because the rental yield from an apartment in the project is very high compared with what is happening in the neighborhood,” Neiman said.
