"Price drops of up to 5%": How much was a penthouse in Shoham sold for?

On Tirosh Street in the Kramim neighborhood of Shoham, a five-room penthouse (originally six) with an area of 140 sq. m and a 40 sq. m balcony was sold for 5.3 million shekels. The property is a single-level unit on the third floor of a three-story building constructed about seven years ago, featuring two parking spaces and a storage room (included in the total area). The penthouse underwent a thorough renovation, and the buyers invested an additional 50,000 shekels in furniture and lighting.

The asking price was 5.67 million shekels, and the property had been on the market for about six months.

The sellers were downsizing, while the buyers were a couple who had sold a detached house in the same town about a month earlier and were initially looking for a temporary rental. They approached the real estate agency to view a four-room apartment, but the agent identified their intent to purchase and showed them this penthouse instead.

Jump in rental prices

Reuven Buskila, an Anglo-Saxon Shoham franchisee who represented both parties, stated: "In the town, we are seeing price decreases of 2%–5%, and the number of transactions has halved compared to the peak 3–4 years ago. There is strong demand for private houses, as a young population with disposable income seeks to take advantage of the current market to purchase detached homes priced between 6.5 and 12 million shekels. In many cases, these are relatively old houses that require renovation."

"Regarding apartments, there is a large supply but weak demand. We see this reflected in rising rental prices—recently, we rented out a five-room apartment for 10,500 shekels per month. Since Shoham is a relatively new town, there is no urban renewal and no new construction due to a lack of available land," he added.

Real estate agent Dror Ben Asuli from Anglo-Saxon Shoham also participated in the deal.

Recent Transactions

Tel Aviv

Ma'apilei Egoz St., Neve Chen: 4-room apartment, 50 sq. m, 4th floor of 4, for 1.9 million shekels.
Levin Kipnis St., HaMishtala: 3-room apartment, 67 sq. m, 5th floor of 9, two parking spaces, for 3.12 million shekels.
Miriam HaHashmonait St., Old North: 3.5-room apartment, 113 sq. m, 1st floor of 8, for 7 million shekels.
Yiftach St., Yad Eliyahu: 5-room apartment, 135 sq. m, 6th floor of 7, with parking, for 4.6 million shekels.

Netanya

Amnon Lipkin-Shahak St., Nof HaTayelet: 4-room apartment, 100 sq. m, 10th floor of 31, with parking, for 2.75 million shekels.
Derech HaPark, Kiryat HaSharon: 4-room apartment, 139 sq. m, 6th floor of 9, two parking spaces, for 3 million shekels.
Norok St., City Center: 4-room apartment, 86 sq. m, 2nd floor of 6, with parking, for 1.8 million shekels.
Spiegelman St., Kiryat HaSharon: 5-room apartment, 130 sq. m, 1st floor of 10, two parking spaces, for 3.4 million shekels.

Ofakim

HaHida St.: 4-room apartment, 83 sq. m, 2nd floor of 4, for 1.14 million shekels.
HaShita Blvd.: 5-room apartment, 150 sq. m, 1st floor of 3, with parking, for 1.52 million shekels.
Etzel St.: 6-room house, 150 sq. m, for 2.1 million shekels.

Rosh HaAyin

Derech HaTziyonut, Givat HaSla'im: 4-room apartment, 130 sq. m, 2nd floor of 3, for 2.11 million shekels.
Ben Gurion Blvd.: 5-room apartment, 134 sq. m, 2nd floor of 7, with parking, for 2.35 million shekels.
Chaim Herzog St., Neve Afek: 5-room apartment, 144 sq. m, 2nd floor of 18, two parking spaces, for 2.6 million shekels.

Tirat Carmel

Motzkin St.: 4-room apartment, 68 sq. m, 2nd floor of 3, with parking, for 1.6 million shekels.
Gordon St.: 3-room apartment, 60 sq. m, 2nd floor of 2, for 1.42 million shekels.

All transactions are sourced from the Israel Tax Authority database for the recent period.