In April 2025 a really particular condominium was bought in Jerusalem. The 296 sq. meter, floor flooring, five-room condominium within the Nahlaot neighborhood was bought for NIS 16.15 million, though it has no protected room. The worth clearly illustrates the excessive demand for residences within the prestigious central Jerusalem neighborhood which has its personal historic character. Nonetheless, regardless of the numerous particular options of the neighborhood, it has a notable drawback – it’s outdated, and so a lot of its buildings would not have protected rooms.
This downside will not be distinctive to Nahlaot. In lots of cities in Israel, particularly in areas of high-demand, there are fairly just a few high-end neighborhoods with buildings that had been constructed a long time in the past with out protected rooms, that are nonetheless thought of extremely fascinating and prestigious. So whereas on the one hand, the worth of such high-end actual property is skyrocketing, then again, the residences lack a primary ingredient of safety.
“Globes” appears at 5 such neighborhoods, utilizing information from the Madlan actual property web site, citing the median development yr – the yr through which 50% of the residences in every neighborhood had already been constructed.
In keeping with the Civil Protection Laws launched in 1992, each new constructing that’s constructed is required to incorporate both a protected room for every condominium, or a shared protected house for every flooring, and an institutional protected house for public, workplace and business buildings. Because of this buildings put up earlier than 1992, and which haven’t added further development of a protected room, don’t embody a protected house throughout the constructing. Nonetheless, many pre-1992 buildings provide underground shelters, beneath or adjoining to the constructing. The median development yr indicated whether or not a lot of the buildings in a neighborhood are outdated and don’t embody a protected house throughout the constructing.
Following the latest battle with Iran, which clearly demonstrated the shortfalls in safety in outdated residential initiatives in Israel, the query arises if the scarcity of protected rooms in such neighborhoods will result in a fall in demand for them?
Madlan CEO Tal Kopel believes it will not. He says, “Though the significance of protected rooms has been on the rise not too long ago, we consider that their absence won’t hurt demand for these neighborhoods. The most important attraction of those neighborhoods is the inhabitants that lives in them and the communities which have been created in consequence. Greater than any constraint of 1 sort or one other, Israelis prefer to stay with individuals much like themselves, along with the benefits that made these neighborhoods engaging within the first place, at first its location. So, we consider the absence of protected rooms won’t hurt their recognition. Alternatively, it might speed up their renewal.”
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Actual property appraiser Saar Peled, who has been working within the Sharon area for a few years, with an emphasis on Herzliya, observes that including a protected room to an current condominium represents a double improve in worth: “Firstly, including a protected room will increase the dimensions of the condominium, and thru this alone it will increase the worth, definitely in high-end neighborhoods. Secondly, there’s a normal impact on the condominium. Immediately, initiatives with a protected room are undoubtedly extra wanted, even in high-end neighborhoods. Estimates are {that a} protected room provides between 5% and 10% to the worth of the condominium, and when it comes to high-end neighborhoods, that is an addition of a whole bunch of hundreds of shekels, whereas the price of constructing a protected room is similar for each neighborhood, all over the place. This can be a very vital enchancment in worth.”
Neve Avivim, Tel Aviv: Dozens of initiatives within the pipeline
Median development date: 1970
Space: 776 dunams (194 acres)
Inhabitants: About 13,000
Neve Avivim is in North Tel Aviv, north of Einstein Road, south of Keren Kayemet Boulevard, east of Derekh Namir and west of Haim Levanon Road. Many of the buildings within the neighborhood was constructed within the Sixties and Nineteen Seventies. In Neve Avivim dozens of TAMA 38 earthquake strengthening initiatives are at the moment being promoted in addition to some city renewal (demolition and reconstruction) initiatives.
The worth of residences within the neighborhood 5 years in the past had been a mean of NIS 4.187 million, in keeping with Madlan, whereas at present the common condominium sells for NIS 5.431 million – an increase of 30%. The typical worth per sq. meter is NIS 49,200 and the most costly sale of an condominium within the neighborhood has been NIS 13.5 million, for a 151 sq. meter floor flooring, 4 room condominium constructed final yr, thus together with a protected room.
A 98 sq. meter, four-room, first flooring condominium was bought in Might 2025 for NIS 4.95 million in a constructing constructed in 1970.
Rehavia, Jerusalem: The typical worth has fallen
Median development date: 1960
Space: 124 dunams (31 acres)
Inhabitants: About 8,000
Rehavia is considered one of Jerusalem’s most unique and in-demand neighborhoods, amongst different issues as a result of it homes many vital nationwide establishments just like the prime minister’s residence, and the president’s residence. The neighborhood was constructed within the first half of the 20 th century and a lot of the buildings are a long time outdated.
Rehavia is the one one of many 5 neighborhoods examined right here the place the common worth has fallen over the previous 5 years because of the uncertainty on the way forward for the church-owned land, a lot of which is positioned within the neighborhood. This uncertainty has led to cost declines within the neighborhood for years. In keeping with Madlan, 5 years in the past the common condominium worth within the neighborhood was about NIS 3.1 million shekels, at present it’s NIS 2.956 million – a 4% lower.
The typical worth per sq. meter within the neighborhood is NIS 49,500, and the very best deal reported this yr, in January 2025, was NIS 7.8 million for a 138 sq. meter four-room condominium in-built 1993, with a protected room.
A grasp plan for the Rehavia neighborhood, which got here into impact in 2014, is at the moment being carried out. It additionally contains components of the Kiryat Shmuel, Talbiya and Shaarei Hesed neighborhoods, protecting an space of 650 dunams (162.5 acres). The plan provides new development rights and additions to 300 of the 650 housing models within the neighborhood, which can even enable for extra protected rooms. The plan additionally designates about 150 buildings for preservation.
Veteran Jerusalem RE/MAX agent Alyssa Friedland says: “Individuals do not select a neighborhood based mostly on the variety of protected rooms it has. They select a neighborhood due to its group, due to its training, due to its synagogues. In any other case new neighborhoods could be extra in demand, as a result of all of the properties have protected rooms. However that is not the consideration guiding consumers.”
Nahlaot, Jerusalem: NIS 16 million for a house with no protected room
Median development date: 1955
Space: 200 dunams (50 acres)
Inhabitants: About 12,000
Nahlaot is likely one of the greatest identified neighborhoods within the capital, and in all of Israel, constructed as a part of the method of Jerusalem residents transferring outdoors the Previous Metropolis partitions. It extends over the realm between Jaffa Road to the north and Bezalel Road to the south. The primary homes within the neighborhood had been constructed within the late nineteenth century, and the realm is characterised by low-rise properties, constructed of the well-known Jerusalem stone, and naturally most of them with no protected room.
In keeping with Madlan, condominium costs within the neighborhood have risen 46% within the final 5 years, and the common worth per sq. meter NIS 45,300.The costliest condominium bought this yr was for NIS 16.15 million, which because it was in-built 1960 doesn’t have a protected room. The Jerusalem Municipality drafted an in depth grasp plan for the south of the Nahlaot neighborhood, which was permitted in 2016. The plan contains an addition of 470 residences to the present 960, and goals to stability growth whereas preserving the neighborhood’s character and values.
Friedland observes that at present, even in Jerusalem’s high-end neighborhoods, consumers are primarily within the safety accessible within the condominium. “One of many first issues individuals ask is whether or not there’s a protected room,” she says, “even in the case of residences value greater than NIS 10 million, and even when the consumers are international residents. The protected room is now an important factor. “There’s an condominium that I have been renting out for years, and I simply hire it from one tenant to a different and now for 3 months I have never been capable of finding a tenant, as a result of there is not any protected room, and the closest shelter is not within the constructing, however a couple of minutes away.”
Lamed neighborhood, Tel Aviv: No plan for Rova 1
Median development date: 1970
Space: 837 dunams (209.5 acres)
Inhabitants: About 10,000
The Lamed neighborhood is taken into account probably the most group and household oriented in Tel Aviv and is on the northernmost excessive of town. It’s east of the at the moment underneath development Sde Dov, west of Ramat Aviv A and Derech Namir, south of the New Ramat Aviv and Nofei Yam neighborhoods, and north of the Kochav Hatzafon neighborhood.
Building started slightly later than the primary properties within the Neve Avivim neighborhood, but it surely was additionally constructed primarily within the Nineteen Seventies. The typical worth for an condominium within the neighborhood 5 years in the past, in keeping with Madlan, was NIS 3.743 million, and is at present NIS 4.381, up 17%. The typical worth per sq. meter within the neighborhood is NIS 48,300.
A penthouse within the neighborhood, on Levi Eshkol Boulevard, with no protected room, was not too long ago bought for NIS 7.95 million. The best deal within the neighborhood this yr was NIS 8.85 million for 146 sq. meter, five-room condominium in March. This can be a new condominium as a result of be accomplished in 2028, so it’s going to have a protected room. Lamed will not be at the moment having fun with a significant renewal growth, partly as a result of the plan for Rova 1, through which it’s included, has not but been permitted.
Herzliya Guess, Herzliya: Many of the properties are homes with gardens
Median development date: 2004
Space: 1,250 dunams (316.5 acres)
Inhabitants: About 4,000
Herzliya Guess is a slender strip surrounded by Highway 2 to the west and the railway line to the east, very near Herzliya Pituah, a really high-end neighborhood in itself. Building started within the Sixties, however during the last decade, a lot land has been cleared for single-family homes – a growth that impacts the median development yr information. In any case, many residential buildings within the neighborhood are fairly outdated, 50 years outdated or extra, and they don’t embody a protected room.
In keeping with Madlan, the common worth for an condominium within the neighborhood 5 years in the past was NIS 3.913 million, whereas at present it’s NIS 4.602 million up 17.5%. The worth per sq. meter is NIS 51,100. These figures are impacted by the development of homes with gardens within the neighborhood in recent times, which after all embody a protected room.
The most important deal this yr within the neighborhood this yr was for NIS 7.35 million, for a 124 sq. meters, five-room, seventh flooring condominium to be accomplished in 2028, which can after all embody a protected room.
On the finish of April 2025, an condominium was bought within the neighborhood in a constructing in-built 1970, so it doesn’t have a protected room. The condominium, 84 sq. meter, 4 room condominium was bought for NIS 3.55 million. Appraiser Saar Peled believes that the present state of affairs will result in accelerated renewal in Herzliya Guess. He says, “In such neighborhoods, it is going to be simpler to advertise renewal initiatives as a result of the residents have the monetary potential. I do not consider that the absence of protected rooms will have an effect on the demand for such a neighborhood. The residents won’t run away from it however will work to resume it. These are neighborhoods that can stay unique and sought-after a method or one other.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on July 24, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
