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Evolution of city prices in the northern part of the country over the past 10 years.
Discover the prices of cities in the northern part of the country (referred to here as the Northern District) and their evolution over the last ten years. You will find different increases depending on the cities in the north of the country, not only compared to the average of the northern district but also compared to the national average increase.
Kiryat Shmona :
Price Index per square meter: 6997 NIS Rental Yield Index: 4.2% Increase from 2006 to 2017: 228%
We can see that apartment prices in Kiryat Shmona have increased by 228% from 2006 to 2017. The price of all apartments in 2006 was 227 thousand and in 2017 is around 498,000. However, compared to the Northern District, prices are low. Kiryat Shmona offers low prices compared to the increase in the Northern District and the entire country.
: Nahariya
Price Index per square meter: 11,823 NIS Rental Yield Index: 3.2%
Increase from 2006 to 2017: 210%
One can see that apartment prices in Nahariya have increased by 210% from 2006 to 2017. The price of all apartments in 2006 was 522,000 shekels compared to 1,097,000 shekels in 2017. You can see on the graph that Nahariya (in blue) is well above the evolution of the Northern District (in red).
Acco : (Acre)
Price Index per square meter: 10383 NIS Rental Yield Index: 4% Increase from 2006 to 2017: 345%
We can see that apartment prices in Acco have increased by 345% from 2006 to 2017. At the beginning of 2006, the starting price of houses was 340,000 shekels and today, in 2017, it is 830,000 shekels. You can also see that compared to the Northern District, prices in Acco are average, but compared to the national average, Acco remains cheap.
Yokne’am Illit :
Price Index per square meter: 13952 NIS Rental Yield Index: 2.6% Increase from 2006 to 2017: 247%
Apartment prices in Yokne’am Illit from 2006 to 2016 increased by 247%. At the beginning of 2006, real estate prices were 545,000 shekels and today (2017) the average price of an apartment is 1,347,000 shekels.
You can see on the graph that prices in Yokne’am Illit (in blue) are unstable and have undergone several increases and decreases. But in the end, prices are rising as often, if not always, in Israel. We can see that prices in this city are much higher than in the Northern District but slightly lower than the national average. This tells us that Yokne’am is simply expensive compared to the Northern District.
Tiberias :
Price Index per square meter: 8704 NIS Rental Yield Index: 3.5% Increase from 2006 to 2017: 245%
Apartment prices in Tiberias have increased by 245% from 2006 to 2017. At the beginning of 2006, the price of an apartment was 319,000 shekels while in 2017 the price of an average apartment in Tiberias will cost 777,000 shekels. You can see that Tiberias is below the average prices in the Northern District and compared to the entire country, prices are very low. But it is very important to note that over the past five years, the trend has been upward. A very significant increase that has never been observed in Tiberias in previous years.
Around Haifa: the prices!
Haifa :
Price Index per square meter: 14,048 NIS Rental Yield Index: 3.3% Increase from 2006 to 2017: 190%
Apartment prices in Haifa have increased by 190% between 2006 and 2017. In 2006, the price of an average apartment was 540,000 shekels and 1,000,000 NIS in 2017. We can see that compared to the Northern District, Haifa closely follows its progression. But remains slightly below the average progression of the Northern District. And apartment prices are lower than those of the rest of the country.
Afula :
Price Index per square meter: 8421 NIS Rental Yield Index: 3.3% Increase from 2006 to 2017: 297%
Apartment prices in Afula have increased by 297% from 2006 to 2017. At the beginning of 2006, prices were 299,000 NIS and in 2017 they are at 891,000 NIS. At the beginning of 2006, Afula was below the average prices of the Northern District and has surpassed it in recent years. Despite the increase, we can see that the price of apartments in Afula in these years (2017) is still lower than the prices of apartments in the national average.
Caesarea :
Price Index per square meter: 17162 NIS Rental Yield Index: 3.7% Increase from 2006 to 2017: 137%
We can see that apartment prices in Caesarea have increased by 137% from 2009 to 2017. At the beginning of 2009, an apartment cost 654,000 shekels and today (2017) it stands at 901,000 shekels. Prices in Caesarea were above the average of the Northern District around 2009. But prices since 2009 have been below the average of the Northern District and the country. However, Caesarea has progressed more slowly and today it is below the threshold of the Northern District.
In conclusion
You have been able to find the evolution of prices in cities in the northern part of the country. Very soon we will publish an article on this same evolution regarding the center and the south of the country. Stay tuned for other regions on Israland.
The graphics present in this article come from the site Madlan (Israeli site in Hebrew).
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