Published June 17th, 2015
Yaniv Haas, real estate realtor.
It is common knowledge that apartments for sale in Haifa have a different sale momentum than apartments offered in Tel Aviv. However, this trend seems to be changing. While the demand for apartments in Tel Aviv used to appear rigid, in Haifa it seems that the market for second hand apartments has changed.
Reports indicate that apartment prices in Haifa continue rising despite the protest events at 2011 and despite the wave of high-rise buildings in the city. In contrast, apartment prices in Tel Aviv are remaining stable with Slight increase. Indeed, it is common to find buyers who repeat the same key word: stagnation.
“The apartment market is stuck”, they say, frozen.
We at “Yaniv Haas” experience fluctuations that cannot be attributed to any global, national, or regional phenomenon. There is no consistency in the sale of second hand apartments in Haifa and there does not seem to be a connection with the Treasury policy or the state of the economy.
For instance, apartments in Carmeliya (Haifa) are selling quickly and at over 20,000 NIS per m² just like cheaper apartments suitable for investment. High end luxury apartments remain on the market for two months or more as they selling at peak prices in the Haifa market – more than 26,000 NIS
So whom do we believe? The media that reports a rise in Haifa prices? Or personal experience that shows a decrease in activity in the areas of high luxury?
My conclusion is that when examining the process of selling an apartment of any kind and in any city, one must discuss micro and not macro data, which means disconnecting from real estate news, newspapers, digital media, and observing the specific characteristics of an apartment: location, size, noise, view, accessibility, proximity to community centers, transport, etc. These are the details that determine the level of demand, asking price, and deal-closing speed. Personal characteristics – yes; reports from the Bank of Israel and the CBS – no.
One cannot generalize about cities and one certainly cannot relate to national phenomena when trying to come to a decision about an individual apartment.
The fact is that certain apartments are popular while others are not, no matter what the price: A wonderful roof apartment on Dizengoff (TLV) is found to be as much in demand as housing apartments in Ramat Israel (TLV), at least according to statistics conducted on the number of inquiries.
There is no correlation between our sense (at “Yaniv Haas”) about the state of the market and media headlines. In my opinion, this contradiction stems from the dramatic differences in the number of properties examined. While the media analyses and relies on hundreds of deals and a myriad of apartment data, at “Yaniv Haas” we conduct real estate deals simultaneously in a number of areas with a limited number of apartments. It often happens, now as well, that various publications declare the “frozen” state of the Tel Aviv market, yet at the very same time we receive many applications at a variety of apartments and prices. Furthermore there are sometimes reports of long drawn-out deals whereas we conduct lightning transactions in Carmeliya, Haifa a very good neighborhood on the Carmel mountain.
This being the case, the solution to the question “What is the state of the housing market” lies in an examination of the scope of transactions and type of apartment you wish to buy / sell. Other examples: there is a strong, fast and lively market for five-room or larger apartments on the Carmel in Haifa, as opposed to the market for four-room apartments in disadvantaged neighborhoods in the city; the market for luxury apartments in Tel Aviv is a bit slow compared to the market for small apartments in areas of high demand. This has not always been the case.
There are a fixed number of apartments marketed exclusively by “Yaniv Haas.” This is how we choose to manage our real estate business. We handle a decent number of apartments at any point in time and enjoy very high success rates. Thus, you may say that we accurately interpret market trends. We draw a lot of online shoppers: a high demand by many surfers enables precise monitoring of the characteristics of applicants at all price ranges. A frozen apartment market in Tel Aviv? Not in our office. A four-room apartment that doesn’t sell? Try us. It’s not about luck, but simply hard work and an accurate interpretation of buyers’ needs and the market, together with proper pricing. Obviously, without a professional realtor, sellers have difficulty meeting buyers’ expectations both in terms of price and in completing the business deal.
Ongoing marketing of projects at a range of prices and in varying areas, effective mediation work, entrepreneurship and expansion related to Tama 38, etc., all enable us a broad, sound perspective when coming to examine a specific real estate property.
Our perspective is usually more precise and accurate than that offered in the written or digital media.
Direct line: 052-3425357