This week, we reviewed, with the help of YZER, the real estate data on Netanya. There are at this time 150 projects in the city in various stages of construction, from pre-planning to building. The city's population numbers nearly 257,000 as of 2021. Following is a comprehensive review.
Most wanted
The neighborhoods most in-demand in Netanya are: Kiryat Sharon, Ir Amim, Ramat Poleg, Agamim, Kiryat Nordau, and City Center South.
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Kiryat Sharon leads in the number of specific searches on the Yad2 site over the past year, with about 285,900 searches in the apartments for sale listings.
Four-room apartments are the type of property most in-demand in Netanya, representing 28.2% of the demand, with some 285,750 searches over the past year.
The breakdown of searches over the past year according to apartment type, out of all searches, is as follows: 2 rooms – 7.2%, 3 rooms – 17.3%, 4 rooms – 28.2%, 5 rooms – 26.4%, 6 rooms – 20.9%.
Apartments for sale
From the beginning of 2021, the number of second-hand apartments offered for sale in the city has been between 3,320 to 3,590 per month.
The neighborhoods with the highest supply of apartments are (in descending order): City Center South, Kiryat Sharon, City Center Northwest, Ir Amim, City Center Northeast, Galei HaYam. City Center South has the highest supply of second-hand apartments, with about 1,360 apartments offered for sale over the past year, compared to 610 in Galei HaYam.
Supply by apartment type, out of the total supply of second-hand apartments offered for sale: 2 rooms – 4.1%, 3 rooms – 21.1%, 4 rooms – 36.6%, 5 rooms – 29.8%, 6 rooms – 5%, 7 rooms or more – 3.3%.
How much did you sell for?
How much did apartments in Netanya actually sell for, on average?
Two rooms: NIS 18,610 per sq.m. (NIS 979,680). Rent: NIS 2,908. Total of 57 transactions.
Three rooms: NIS 17,287 per sq.m. (NIS 1,300,032). Rent: NIS 3,977. Total of 344 transactions.
Four rooms: NIS 16,695 per sq.m. (NIS 1,791,291). Rent: NIS 4,810. Total of 545 transactions.
Five rooms: NIS 26,587 per sq.m. (NIS 2,376,445). Rent: NIS 5,908. Total of 420 transactions.
Six rooms: NIS 17,471 per sq.m. (NIS 3,013,453). Rent: NIS 7,538. Total of 49 transactions.
Transactions and returns
According to the YZER system and the Tax Authority, over the past year, about 1,423 transactions were made in Netanya. In March 2021, a 5-room, 132-sq.m. apartment was sold on 18 HaBarbur Street for NIS 2,274,000 (NIS 17,227 per sq.m.).
Return rates throughout the city: 2 rooms – 2.9%, 3 rooms – 3.1%, 4 rooms – 3.1%, 5 rooms – 3%, 6 rooms – 3.3%.
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Netanya and the coronavirus
In March 2020, when the coronavirus pandemic broke out in Israel, the number of searches for apartments for sale in the city was about 77,020. In May that figure rose to 156,390. In July it rose again to 188,930. In September – the month of the holidays and the second lockdown – it dropped to 170,560 searches. In October it rose to 216,780 – a record for 2020. With the third lockdown in December, the number of searches dropped again to 181,105.
This year opened with an increase, recording 208,880 searches in January 2021. February and March saw a decline, with a rise in April to 213,215 searches. In the summer months, May through July, the number of searches remained relatively high. In June, the 2021 record was broken, with 221,728 searches.
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