Tel Aviv Real Estate: Urban Renewal Projects Offer Apartments Under 2M NIS

A new urban renewal project by Rotem Shani is underway on Mikveh Kadesh Street in the Neve Kfir neighborhood of southern Tel Aviv, offering rare opportunities for buyers under 2 million NIS. A 3-room apartment on the 3rd floor was recently sold for 1.98 million NIS, while a similar 65-square-meter unit on the 4th floor is listed at 2.09 million NIS. These transactions highlight that despite high overall prices in the city, affordable options with potential future expansion still exist.

At the same time, high-end real estate continues to command steep prices across Tel Aviv, reaching up to 65,000 NIS per square meter. A 70-square-meter apartment on Remez Street fetched 4.56 million NIS, while a 97-square-meter unit near Kikar HaMedina sold for 6.3 million NIS. Additional deals included properties on Shor Street for 3.52 million NIS and Hirschenberg Street for 3 million NIS.

Meanwhile, neighboring Bat Yam offers significantly lower entry points for property buyers. Transactions in the city ranged from 1.48 million NIS for a 62-square-meter apartment on HaHashmonaim Street to 1.9 million NIS for a 2-room unit in the Greenside project. Additional sales featured properties on HaReshet Street at 1.85 million NIS and Bar Yehuda Street at 1.65 million NIS.

In Rehovot, recent secondhand deals reflect robust market activity. A 5-room apartment on Ephraim Katzir Street spanning 125 square meters was sold for 3.6 million NIS. Furthermore, a 106-square-meter unit on Yaakov Tamari Street fetched 2.5 million NIS, and an 80-square-meter apartment on Ahad HaAm Street changed hands for 2.87 million NIS.