Eilat residence with sea view fetches NIS 6.5m
A 198 sq. meter, six-room semi-detached home on Ahava Road in Eilat’s Rova 2 has been offered for NIS 6.5 million. The home stands on a 450 sq. meter lot and has a swimming pool in a 360 sq. meter backyard and a 113 sq. meter roof space.
The home was a constructed as a part of a 2019 Israel Land Authority (ILA) tender for 345 houses in a authorities backed discounted houses program. Uniquely within the backed program undertaking, the tons have been allotted for terraced and semi-detached homes with gardens with 50% of the models in this system and 50% on the free market. Amram Avraham Development gained the tender to construct 200 of the houses.
Within the authorities backed program, 160 sq. meter semi-detached homes have been constructed with 200 sq. meter gardens for NIS 1.6 million. The homes on the free market fetched twice the worth and in the primary have been larger.
Terraced homes on the free market fetched NIS3.2-4.1 million and semi-detached homes fetched NIS 4.5 million and much more. The newest deal is the most costly ever within the neighborhood and in line with the Israel Tax Authority web site the largest deal in Eilat over the previous decade.
Previously two years, a number of offers have been accomplished for homes within the undertaking at costs starting from NIS 4.1 to five.2 million. The variations have been primarily as a result of dimension, landscaping and consider.
The six-room semi-detached home that was offered is positioned closest to the ocean. This primary line nearest the price contains 20 homes, and the home has a further benefit in being subsequent to the trail that may lead all the way down to the ocean when the neighborhood is accomplished. Three years in the past, two close by homes on the row closest to the ocean, however smaller and barely much less well-located, have been offered for NIS 5.8 million.
All of this lends logic to the deal worth
Developer Amram Avraham Development CEO Noam Greif and VP advertising and gross sales Asaf Hamo say that the undertaking is on its method to finishing advertising and occupancy.
Greif says, “The Aqua Resort undertaking contains 231 housing models, of which 117 have been allotted to the federal government backed program,” says Greif. “When the ILA held the tenders, we noticed that they didn’t match the spirit of this system by way of the kind of houses, and we acknowledged the potential of the place.”
As for the worth, Greif says that “it might be the very best in Eilat within the final decade, however within the final 20 years, no properties have been constructed within the metropolis which might be much like this property, which was constructed to the very best high quality, and from which you’ll be able to overlook the ocean with an open, unobstructed view, and in addition stroll all the way down to it. In case you calculate the worth per sq. meter, you’ll get to about NIS 30,000 per sq. meter, which isn’t a lot.”
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Hamo additionally explains that the distinctiveness of this home, and all the southern row of homes, is what allowed the corporate to demand such excessive costs for these properties.
Actual property appraiser Erez Cohen agrees that that is an distinctive property on the Eilat market. He says, “Together with flats within the backed program, the federal government additionally included homes and gardens within the free market, a mix that’s notably uncommon in Israel, and particularly in Eilat. The truth that it’s a uncommon undertaking, mixed that enjoys an unobstructed sea view and entry to the seashore, created distinctive demand, which explains the excessive worth that was obtained.”
Cohen provides, “When it comes to worth per sq. meter, the deal displays about NIS 32,800 per constructed sq. meter, barely greater than backyard flats which have been offered within the metropolis in current months. For instance, in June, a deal was recorded for a 123 sq. meter backyard condo and 153 sq. meter yard, which displays NIS 31,500 per sq. meter. In March 2025, one other backyard condo of 94 sq. meters with a 119 sq. meters yard was offered for NIS 2.8 million – NIS 29,800 per sq. meter. In different phrases, the excessive worth stems each from the scale of the condo and from the truth that it’s a massive home with privateness, and proximity to the ocean.
“Together with the excessive worth relative to the town, it is very important notice that no offers with comparable traits can be found, which means there aren’t any extra transactions of homes and gardens so near the ocean. This deal displays the excessive demand and low provide of such homes.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on October 19, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
