While Israeli politicians talk about developing the country’s northern and southern peripheral cities, there is still plenty going on in the centre of the country. New residential developments in Netanya, Herzliya and Ra’anana offer great opportunities for investors.
Netanya is one of the fastest-growing cities in the Mercaz (central) area, with plans to expand to 350,000 residents by 2020. There is new construction in the east of the city in Kiryat Hasharon, and also in Ir Yamim, the new coastal suburb located to the south of the city center, near Ramat Poleg.
Ir Yamim has been planned to include 4,000 residential units with excellent facilities and beautiful surroundings. It is bordered by the Mediterranean Sea, the Poleg Nature Reserve to the south, and the Irusim Nature Reserve inland. It is also conveniently located near the Poleg junction, with excellent transportation links to Tel Aviv and other cities.
There are plans to build hotels in Ir Yamim to take advantage of its beach access. Unlike the northern and central Netanya beaches, there are no cliffs to navigate when approaching the beach from the town. The municipality is constructing cycle paths and promenade routes along the beach, making it a truly accessible coastal resort. Apartments in Ir Yamim are sure to attract high rents, whether as holiday lets or year-round accommodation for those who enjoy the sea.
Herzliya has always been one of the most desirable addresses in Israel, and recent developments are likely to increase demand. Premier real estate along the shoreline has been planned and designed to combine prestige housing with a beach front hotel, restaurants, cafes and water sports facilities. In Pituach by the Sea, the traffic is routed underground and there are landscaped paths for pedestrians only, linking public parks and community facilities. It is hard to believe that this green paradise is located just a few minutes’ drive from Tel Aviv! The entry prices for these residential projects are steep because Pituach by the Sea will soon become one of the most sought-after locations for wealthy Israelis and expats alike.
Neve Zemer is the new suburb of Ra’anana currently under construction. The city has always been popular with Anglo-Israeli families and those who appreciate its clean streets and well-run urban facilities. Today middle-class Israeli and French families are choosing Ra’anana because of the high standards of its schools and its tolerant traditional Jewish atmosphere – restaurants and shops on its main streets are all closed on Shabbat. This new northern neighborhood will enable thousands more families to enjoy an excellent quality of life. Neve Zemer is being planned with landscaped open spaces, recreational facilities and urban entertainment centers for residents of all ages.
These three examples of high-quality residential developments demonstrate confidence that demand remains strong at the top end of the Israel real estate price range. Many mid-range developments are underway in other central areas of Israel. If you are interested in investing in residential properties in Central Israel, with expert management services and excellent rates of return, speak to Shaun Isaacson at Creative Estates Israel today.