In April 2025 a really particular residence was bought in Jerusalem. The 296 sq. meter, floor flooring, five-room residence within the Nahlaot neighborhood was bought for NIS 16.15 million, regardless that it has no protected room. The value clearly illustrates the excessive demand for flats within the prestigious central Jerusalem neighborhood which has its personal historic character. Nonetheless, regardless of the numerous particular options of the neighborhood, it has a notable drawback – it’s previous, and so a lot of its buildings shouldn’t have protected rooms.
This disadvantage will not be distinctive to Nahlaot. In lots of cities in Israel, particularly in areas of high-demand, there are fairly just a few high-end neighborhoods with buildings that had been constructed many years in the past with out protected rooms, that are nonetheless thought-about extremely fascinating and prestigious. So whereas on the one hand, the worth of such high-end actual property is skyrocketing, then again, the flats lack a fundamental component of safety.
“Globes” seems to be at 5 such neighborhoods, utilizing knowledge from the Madlan actual property web site, citing the median development yr – the yr wherein 50% of the flats in every neighborhood had already been constructed.
In line with the Civil Protection Rules launched in 1992, each new constructing that’s constructed is required to incorporate both a protected room for every residence, or a shared protected house for every flooring, and an institutional protected house for public, workplace and business buildings. Because of this buildings put up earlier than 1992, and which haven’t added further development of a protected room, don’t embody a protected house inside the constructing. Nonetheless, many pre-1992 buildings supply underground shelters, beneath or adjoining to the constructing. The median development yr indicated whether or not a lot of the buildings in a neighborhood are previous and don’t embody a protected house inside the constructing.
Following the current battle with Iran, which clearly demonstrated the shortfalls in safety in previous residential initiatives in Israel, the query arises if the scarcity of protected rooms in such neighborhoods will result in a fall in demand for them?
Madlan CEO Tal Kopel believes it will not. He says, “Though the significance of protected rooms has been on the rise lately, we consider that their absence is not going to hurt demand for these neighborhoods. The largest attraction of those neighborhoods is the inhabitants that lives in them and the communities which have been created in consequence. Greater than any constraint of 1 variety or one other, Israelis prefer to stay with individuals much like themselves, along with the benefits that made these neighborhoods enticing within the first place, at the beginning its location. So, we consider the absence of protected rooms is not going to hurt their reputation. Alternatively, it could speed up their renewal.”
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Actual property appraiser Saar Peled, who has been working within the Sharon area for a few years, with an emphasis on Herzliya, observes that including a protected room to an present residence represents a double enhance in worth: “Firstly, including a protected room will increase the scale of the residence, and thru this alone it will increase the worth, definitely in high-end neighborhoods. Secondly, there’s a common impact on the residence. In the present day, initiatives with a protected room are undoubtedly extra wanted, even in high-end neighborhoods. Estimates are {that a} protected room provides between 5% and 10% to the worth of the residence, and by way of high-end neighborhoods, that is an addition of tons of of 1000’s of shekels, whereas the price of constructing a protected room is similar for each neighborhood, all over the place. This can be a very vital enchancment in worth.”
Neve Avivim, Tel Aviv: Dozens of initiatives within the pipeline
Median development date: 1970
Space: 776 dunams (194 acres)
Inhabitants: About 13,000
Neve Avivim is in North Tel Aviv, north of Einstein Road, south of Keren Kayemet Boulevard, east of Derekh Namir and west of Haim Levanon Road. A lot of the buildings within the neighborhood was constructed within the Sixties and Seventies. In Neve Avivim dozens of TAMA 38 earthquake strengthening initiatives are at the moment being promoted in addition to some city renewal (demolition and reconstruction) initiatives.
The value of flats within the neighborhood 5 years in the past had been a median of NIS 4.187 million, in response to Madlan, whereas as we speak the common residence sells for NIS 5.431 million – an increase of 30%. The common worth per sq. meter is NIS 49,200 and the costliest sale of an residence within the neighborhood has been NIS 13.5 million, for a 151 sq. meter floor flooring, 4 room residence constructed final yr, thus together with a protected room.
A 98 sq. meter, four-room, first flooring residence was bought in Could 2025 for NIS 4.95 million in a constructing constructed in 1970.
Rehavia, Jerusalem: The common worth has fallen
Median development date: 1960
Space: 124 dunams (31 acres)
Inhabitants: About 8,000
Rehavia is considered one of Jerusalem’s most unique and in-demand neighborhoods, amongst different issues as a result of it homes many vital nationwide establishments just like the prime minister’s residence, and the president’s residence. The neighborhood was constructed within the first half of the 20 th century and a lot of the buildings are many years previous.
Rehavia is the one one of many 5 neighborhoods examined right here the place the common worth has fallen over the previous 5 years because of the uncertainty on the way forward for the church-owned land, a lot of which is positioned within the neighborhood. This uncertainty has led to cost declines within the neighborhood for years. In line with Madlan, 5 years in the past the common residence worth within the neighborhood was about NIS 3.1 million shekels, as we speak it’s NIS 2.956 million – a 4% lower.
The common worth per sq. meter within the neighborhood is NIS 49,500, and the very best deal reported this yr, in January 2025, was NIS 7.8 million for a 138 sq. meter four-room residence inbuilt 1993, with a protected room.
A grasp plan for the Rehavia neighborhood, which got here into impact in 2014, is at the moment being carried out. It additionally consists of elements of the Kiryat Shmuel, Talbiya and Shaarei Hesed neighborhoods, overlaying an space of 650 dunams (162.5 acres). The plan provides new development rights and additions to 300 of the 650 housing models within the neighborhood, which can even enable for extra protected rooms. The plan additionally designates about 150 buildings for preservation.
Veteran Jerusalem RE/MAX agent Alyssa Friedland says: “Individuals do not select a neighborhood primarily based on the variety of protected rooms it has. They select a neighborhood due to its neighborhood, due to its schooling, due to its synagogues. In any other case new neighborhoods could be extra in demand, as a result of all of the properties have protected rooms. However that is not the consideration guiding patrons.”
Nahlaot, Jerusalem: NIS 16 million for a house with no protected room
Median development date: 1955
Space: 200 dunams (50 acres)
Inhabitants: About 12,000
Nahlaot is likely one of the finest recognized neighborhoods within the capital, and in all of Israel, constructed as a part of the method of Jerusalem residents transferring exterior the Outdated Metropolis partitions. It extends over the world between Jaffa Road to the north and Bezalel Road to the south. The primary homes within the neighborhood had been constructed within the late nineteenth century, and the world is characterised by low-rise properties, constructed of the well-known Jerusalem stone, and naturally most of them with no protected room.
In line with Madlan, residence costs within the neighborhood have risen 46% within the final 5 years, and the common worth per sq. meter NIS 45,300.The costliest residence bought this yr was for NIS 16.15 million, which because it was inbuilt 1960 doesn’t have a protected room. The Jerusalem Municipality drafted an in depth grasp plan for the south of the Nahlaot neighborhood, which was permitted in 2016. The plan consists of an addition of 470 flats to the prevailing 960, and goals to steadiness improvement whereas preserving the neighborhood’s character and values.
Friedland observes that as we speak, even in Jerusalem’s high-end neighborhoods, patrons are primarily within the safety obtainable within the residence. “One of many first issues individuals ask is whether or not there’s a protected room,” she says, “even with regards to flats value greater than NIS 10 million, and even when the patrons are overseas residents. The protected room is now an important factor. “There’s an residence that I have been renting out for years, and I simply hire it from one tenant to a different and now for 3 months I have not been capable of finding a tenant, as a result of there is no protected room, and the closest shelter is not within the constructing, however a couple of minutes away.”
Lamed neighborhood, Tel Aviv: No plan for Rova 1
Median development date: 1970
Space: 837 dunams (209.5 acres)
Inhabitants: About 10,000
The Lamed neighborhood is taken into account probably the most neighborhood and household oriented in Tel Aviv and is on the northernmost excessive of town. It’s east of the at the moment below development Sde Dov, west of Ramat Aviv A and Derech Namir, south of the New Ramat Aviv and Nofei Yam neighborhoods, and north of the Kochav Hatzafon neighborhood.
Building started somewhat later than the primary properties within the Neve Avivim neighborhood, however it was additionally constructed primarily within the Seventies. The common worth for an residence within the neighborhood 5 years in the past, in response to Madlan, was NIS 3.743 million, and is as we speak NIS 4.381, up 17%. The common worth per sq. meter within the neighborhood is NIS 48,300.
A penthouse within the neighborhood, on Levi Eshkol Boulevard, with no protected room, was lately bought for NIS 7.95 million. The very best deal within the neighborhood this yr was NIS 8.85 million for 146 sq. meter, five-room residence in March. This can be a new residence as a consequence of be accomplished in 2028, so it can have a protected room. Lamed will not be at the moment having fun with a significant renewal increase, partly as a result of the plan for Rova 1, wherein it’s included, has not but been permitted.
Herzliya Wager, Herzliya: A lot of the properties are homes with gardens
Median development date: 2004
Space: 1,250 dunams (316.5 acres)
Inhabitants: About 4,000
Herzliya Wager is a slender strip surrounded by Highway 2 to the west and the railway line to the east, very near Herzliya Pituah, a really high-end neighborhood in itself. Building started within the Sixties, however during the last decade, a lot land has been cleared for single-family homes – a improvement that impacts the median development yr knowledge. In any case, many residential buildings within the neighborhood are fairly previous, 50 years previous or extra, and they don’t embody a protected room.
In line with Madlan, the common worth for an residence within the neighborhood 5 years in the past was NIS 3.913 million, whereas as we speak it’s NIS 4.602 million up 17.5%. The value per sq. meter is NIS 51,100. These figures are impacted by the development of homes with gardens within the neighborhood in recent times, which after all embody a protected room.
The largest deal this yr within the neighborhood this yr was for NIS 7.35 million, for a 124 sq. meters, five-room, seventh flooring residence to be accomplished in 2028, which can after all embody a protected room.
On the finish of April 2025, an residence was bought within the neighborhood in a constructing inbuilt 1970, so it doesn’t have a protected room. The residence, 84 sq. meter, 4 room residence was bought for NIS 3.55 million. Appraiser Saar Peled believes that the present scenario will result in accelerated renewal in Herzliya Wager. He says, “In such neighborhoods, will probably be simpler to advertise renewal initiatives as a result of the residents have the monetary capacity. I do not consider that the absence of protected rooms will have an effect on the demand for such a neighborhood. The residents is not going to run away from it however will work to resume it. These are neighborhoods that can stay unique and sought-after a method or one other.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on July 24, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
