Haifa seafront penthouse fetches NIS 6.2m
A 117 sq. meter, four-room, fourth and fifth flooring penthouse residence with a 35 sq. meter balcony in a brand new undertaking on Hubert Humphrey Avenue on Haifa seafront has been offered for NIS 6.2 million. The undertaking includes two five-floor residence buildings at 17 and 19 Hubert Humphrey Avenue with a complete of 20 flats with a swimming pool to be used by residents of the 2 buildings.
Hubert Humphrey Avenue is west of Bat Galim close to the Stella Maris cable automotive terminal and is the closest road to the ocean on which it’s permitted to assemble new houses. The residence is simply 40 meters from the seafront.
How is it doable to construct a undertaking so near the ocean in Israel the place development is prohibited inside 300 meters of the shoreline? It seems that Haifa’s first grasp plan from 1934 allowed this, and the plans that adopted didn’t remove this risk. Hubert Humphrey Avenue, which results in Israel Oceanographic and Limnological Analysis Institute, has remained partially empty because the plan was accepted 91 years in the past. Lately, a number of buildings have been renovated on the road and a number of other new buildings have been constructed, and at the least one new undertaking is at the moment being marketed on the road.
The road’s massive promoting level is its proximity to the ocean. As within the case of Bat Galim Promenade, residents solely must cross the street to succeed in the ocean. The large minus is behind the undertaking to the east with the railway line and Street 4 virtually bordering the tons.
There have been only a few offers on this road, however the tempo of worth will increase reveals how scorching the properties are there. For instance, in October 2018, a penthouse residence at 15 Hubert Humphrey Avenue was bought for NIS 2.585 million, and two years later, in 2020, the residence was resold for NIS 3.475 million – a rise of 34%.
An outdated 3-room residence in-built 1940 was offered two years in the past for NIS 2.2 million. This deal can be a excessive worth, reflecting the nice potential of the road. 18 months in the past, two 4-room flats have been offered on paper at 19 Hubert Humphrey for NIS 6 million. Within the constructing the place the present deal was closed, two 3-room flats have been offered just a few months in the past for NIS 3 and three.4 million.
The final two offers replicate a worth of NIS 43,000 per sq. meter. An examination of the brand new residence market in Bat Galim reveals that residence costs close to the ocean attain NIS 35,000 shekels per sq. meter, whereas on seafront, one deal has been performed in recent times, at a worth of about NIS 43,000 per sq. meter, kind of the identical as the costs obtained within the Hubert Humphrey undertaking.
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Within the present deal, the value acquired is about NIS 48,000 per sq. meter. Contemplating the distinctiveness of the undertaking and the residence that was offered (a penthouse residence with a big balcony), the value appears affordable.
Appraiser Asi Avni stated, “It is a uncommon deal for Haifa, which stems firstly from an distinctive location. A two-level penthouse with an space of 117 sq. meters, plus a 35 sq. meters of balcony, positioned solely tens of meters from the seafront, is a really uncommon characteristic in the actual property market.
“For comparability, Hayarkon Avenue in Tel Aviv – one of the vital sought-after areas within the nation as a consequence of its proximity to the ocean, is positioned about 100 meters from the seafront, so on this case it’s a property that’s considerably nearer to the seashore. The mix of such a location with the traits of a penthouse explains the excessive worth stage set within the deal – about NIS 53,000 per sq. meter (with out balconies) – a stage that doesn’t replicate the overall Haifa market however slightly a novel and uncommon premium property.”
The underside line: When the ocean is open in entrance of you, and when the gap to it’s notably quick, it’s doable to succeed in “Tel Aviv” costs within the Haifa market as properly. That is the costliest 4-room residence in Haifa.
Printed by Globes, Israel enterprise information – en.globes.co.il – on December 21, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
