Netanya has always been a favourite seaside resort for visitors to Israel and retirees from colder climates, but it is also a booming Israeli city with a red-hot rentals market.
Ir Yamim is the latest Netanya suburb to spring from the sands, and it is already attracting young Israeli couples and families and generating excellent rental revenues for property owners. Its name means ‘City of the Seas’ and it is located to the south of the city, next to wide expanses of white sandy beaches that have been largely ignored until now.
Netanya has expanded southwards in recent years and invested heavily in new infrastructure and community facilities. Along with high-specification apartment buildings the city has built schools and synagogues, a new shopping centre, and a sea front promenade.
This attractive new development is selling faster than the contractors can build! One developer told me that every property is occupied within a week of completion, and there is a waiting list of tenants looking for apartments to rent. Ir Yamim properties are proving popular with native Israelis who appreciate their excellent location, with Olim from Europe who enjoy Netanya’s continental flavor, and with retirees who can enjoy the sea views and promenades.
To find out more about owning and renting out a property in Ir Yamim, contact Shaun at Creative Estates Israel.