Whereas Tel Aviv is seeing a fall within the variety of offers and residence costs, a distinct image is now rising in Jaffa. The historic port metropolis is experiencing robust demand, and based on actual property brokers, costs are even rising in sure areas. The rising curiosity is attributed, amongst different issues, to the operation of the sunshine rail Crimson Line which has linked Jaffa on to the guts of Tel Aviv.
The opening of the Crimson Line in August 2023, after a delay of a couple of decade, has led to a big change in public transport in the complete Tel Aviv metropolitan area and in Jaffa particularly. The road, which connects Bat Yam, Tel Aviv, Ramat Gan, Bnei Brak and Petah Tikva, has turned Jaffa right into a central and way more accessible transit level.
“We started to see the rise in demand for flats in Jaffa in the course of the Covid interval within the midst of labor on the Crimson Line,” says Talya Bar, proprietor and companion of RE/MAX Benefit Jaffa actual property company. “Even then, we noticed an inflow of huge contractors like Acro and Hagag. These corporations understood that the opening of the Crimson Line would result in the migration of individuals from central and northern Tel Aviv, as they got the chance to pay decrease costs than Tel Aviv and transfer round simply.”
Bar says that patrons in Jaffa are very various, each by way of age and by way of the aim of the acquisition. “The rising curiosity in Jaffa got here from a number of instructions. There are overseas traders who’re discovering the potential within the metropolis, and in addition younger individuals who wish to reside in Jaffa and may discover flats which can be slated for city renewal tasks at enticing costs.
Alongside this, we see an excellent many aged Jerusalemites who’re excited by transferring residence to Jaffa,” says Bar, explaining that Jerusalem and Jaffa share related traits as historical cities that appeal to many patrons from the capital of Israel. “The proximity to the ocean and Tel Aviv, together with the opening of the Crimson Line, which utterly upgrades the town’s transport capability, attracts many retirees right here,” she explains.
One other actual property agent who works in Jaffa is Omri Kakoon of the Harova company. He agrees with Bar and says that the rise in costs is felt primarily in north Jaffa. “The northern a part of the town has undergone a big facelift, each by way of the way it appears to be like and inhabitants.”
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He says the rise in residence costs in Tel Aviv has led to an inflow of consumers who’re getting the standard of life they aspire to in Tel Aviv, at decrease costs. “The rise in costs within the north of the town has additionally raised the standard of the inhabitants within the space.”
Improve within the variety of city renewal tasks
In accordance with Tel Aviv-Yafo Municipality knowledge, the numerous change within the variety of permits acquired for city renewal tasks got here with the opening of the Crimson Line within the metropolis. Thus, between 2020 and 2022, no constructing permits had been issued for any tasks in Jaffa, and in 2023 just one constructing allow was issued. In 2024 six permits had been issued, and as of August 2025, three extra constructing permits had been issued within the metropolis, for a complete of 234 housing items.
One of many new tasks in Jaffa is the Younger Tel Aviv-Jaffa challenge, by the Hagag Group, on Sahron Avenue. The challenge, which is at the moment below building, contains two 14-floor towers with 123 housing items, and covers 3,175 sq. meters. Hagag reported in its monetary report for the second quarter that 34 contracts have been signed within the challenge thus far, and that the common value per sq. meter is NIS 33,849.
One other challenge of curiosity within the metropolis is the GO YAFO challenge. Acro gained an Israel Land Authority tender with Ashdar to construct 412 properties and industrial house on a 9 dunam (2.25 acre) lot, which was previously the Maccabi Jaffa soccer stadium. The plan was authorized in 2017 for 160 dunam (40 acres) between Heinrich Heine Avenue to the east, Nahal Sorek Avenue to the south, Nes Goyim Avenue to the north, and Gaza and Beersheva Streets to the west. 65% of the world is owned by the state and the remainder by Tel Aviv-Yafo Municipality. After many delays, 1,460 properties shall be constructed on the positioning, half of which shall be in authorities backed tasks, 48% of which shall be for Tel Aviv residents together with 30 for Jaffa residents, and 10 flats for public housing residents.
Alongside housing tasks, Tel Aviv-Yafo Municipality has begun constructing the primary neighborhood heart nation membership of its type in Jaffa in 2023 – Beit Cherner, with 5 swimming swimming pools, a spa, a gymnasium and studio rooms, an auditorium, a gymnasium and extra, which is scheduled to open in 2026.
Relying on the neighborhood: a variety of costs
On the subject of costs within the metropolis, Bar says that the vary could be very vast, relying on the totally different neighborhoods. “In northern Jaffa – within the space of the flea market, Noga theater and the American Colony, costs can attain 45-50,000 per sq. meter, much like costs in central Tel Aviv,” she explains.
Nonetheless, Bar says that her workplace can be seeing a rise in demand in much less enticing neighborhoods in Jaffa, that are scheduled to bear future city renewal, or are positioned close to city renewal tasks. Bar provides an instance of a deal that was lately signed in Jaffa D on Nardor Avenue. This can be a 52 sq. meter, three-room, fourth ground residence (with out an elevator) with a month-to-month hire of NIS 4,300. The residence is within the technique of being demolished and rebuilt and was bought a month in the past for NIS 1.82 million.
On the similar time, Bar mentions one other deal within the Tzahalon neighborhood on Tzihatli Avenue, the place a 120 sq. meters, 5 rooms mini-penthouse with a storage room, two parking areas and a balcony, was bought a couple of weeks in the past for NIS 5.5 million.
Kakkon says that in north Jaffa, excessive demand additionally results in sure offers closing above market value. He mentions a deal that was lately closed in north Jaffa at 6 Rabbi Tanchum Avenue (the Rova advanced), which is close to the flea market. A 62 sq. meter, 2.5-room residence with a basement, and 20 sq. meters of balconies, a storage room, and two parking areas was bought for NIS 3.8 million – above the market value. “Demand for the residence was very excessive and in the long run there have been two patrons who had been excited by closing the deal. Certainly one of them provided a better value than the market value and our shopper closed with him,” he says.
One other deal he mentions is within the Eliphelet 26 challenge (the Ikea challenge) within the American colony on the border with Florentin. “This can be a new challenge, with a gymnasium, pool and safety guard within the constructing. The 62 sq. meter residence that was bought has two rooms, a 14-square-meter balcony, and contains parking. The residence was bought firstly of the month at a document value within the advanced, for NIS 3.9 million.
“There are fairly a couple of alternatives hidden within the metropolis”
One other agent in Bar’s workplace at RE/MAX, Kamal Abu Dahoud, who specializes within the Ajami neighborhood in Jaffa, explains that top rates of interest have weighed on among the metropolis’s mortgage debtors. “We’re certainly witnessing a wave of demand in Jaffa, and a part of it is usually associated to the potential that patrons acknowledge as a result of comparatively enticing costs for the world,” he explains.
Within the previous Ajami neighborhood, for instance, which is close to the seashore, a big 180 sq. meter backyard residence in a listed constructing with an 80 sq. meter yard is up on the market. In accordance with an appraiser’s estimate, the residence is value NIS 4 million, however solely NIS 3.5 million is being requested.
“The hole between the asking value and the value estimated by the appraiser could be very massive, we’re speaking about NIS 20,000 + per sq. meter,” says Abu Dahoud. “It is very tough to search out such offers in Jaffa, however there are residence homeowners who’re compelled to decrease costs as a consequence of excessive rates of interest, after mortgage funds have risen significantly.”
Abu Dahoud’s believes that at some point Jaffa shall be “One of the costly cities on the planet,” and he estimates that the wave of curiosity stems from the popularity of the long-term potential for revenue sooner or later.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on September 11, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
