Bat Yam Apartment Sells for NIS 1.62 Million, Below Its 2022 Purchase Price

A 2.5-room apartment on Hashikma Street in southwestern Bat Yam has sold for NIS 1.62 million, below the NIS 1.66 million its owners paid in 2022, according to real-estate broker Shiri Noa Hasson. The 57-square-meter property was on the market for about three months before the sale. The sellers initially sought NIS 1.73 million, then lowered their asking price to NIS 1.67 million before agreeing to the final price. Hasson said of the sellers: “They understood the state of the market.” The young family had bought the apartment as an investment and sold it while purchasing another home for themselves. The buyers are a young couple who also bought the property as an investment. The apartment currently rents for NIS 4,450 a month. It is on the fourth floor of a four-story building with an elevator and parking. Hasson said the buyers took account of the parking and the prospect of redevelopment when considering the purchase. The building's residents have decided to pursue redevelopment and are negotiating with a developer, according to Hasson. The final sale price was NIS 40,000 below the sellers' 2022 purchase price and NIS 110,000 below their initial asking price.