A 117 sq. meter, four-room, fourth and fifth ground penthouse condo with a 35 sq. meter balcony in a brand new undertaking on Hubert Humphrey Road on Haifa seafront has been bought for NIS 6.2 million. The undertaking includes two five-floor condo buildings at 17 and 19 Hubert Humphrey Road with a complete of 20 flats with a swimming pool to be used by residents of the 2 buildings.
Hubert Humphrey Road is west of Bat Galim close to the Stella Maris cable automobile terminal and is the closest road to the ocean on which it’s permitted to assemble new properties. The condo is barely 40 meters from the seafront.
How is it potential to construct a undertaking so near the ocean in Israel the place development is prohibited inside 300 meters of the shoreline? It seems that Haifa’s first grasp plan from 1934 allowed this, and the plans that adopted didn’t remove this chance. Hubert Humphrey Road, which ends up in Israel Oceanographic and Limnological Analysis Institute, has remained partially empty because the plan was authorised 91 years in the past. Lately, a number of buildings have been renovated on the road and a number of other new buildings have been constructed, and not less than one new undertaking is presently being marketed on the road.
The road’s massive promoting level is its proximity to the ocean. As within the case of Bat Galim Promenade, residents solely need to cross the highway to achieve the ocean. The massive minus is behind the undertaking to the east with the railway line and Street 4 virtually bordering the heaps.
There have been only a few offers on this road, however the tempo of value will increase reveals how sizzling the properties are there. For instance, in October 2018, a penthouse condo at 15 Hubert Humphrey Road was bought for NIS 2.585 million, and two years later, in 2020, the condo was resold for NIS 3.475 million – a rise of 34%.
An previous 3-room condo in-built 1940 was bought two years in the past for NIS 2.2 million. This deal can be a excessive value, reflecting the nice potential of the road. 18 months in the past, two 4-room flats have been bought on paper at 19 Hubert Humphrey for NIS 6 million. Within the constructing the place the present deal was closed, two 3-room flats have been bought a couple of months in the past for NIS 3 and three.4 million.
The final two offers replicate a value of NIS 43,000 per sq. meter. An examination of the brand new condo market in Bat Galim reveals that condo costs close to the ocean attain NIS 35,000 shekels per sq. meter, whereas on seafront, one deal has been carried out lately, at a value of about NIS 43,000 per sq. meter, roughly the identical as the costs obtained within the Hubert Humphrey undertaking.
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Within the present deal, the value acquired is about NIS 48,000 per sq. meter. Contemplating the individuality of the undertaking and the condo that was bought (a penthouse condo with a big balcony), the value appears cheap.
Appraiser Asi Avni stated, “It is a uncommon deal for Haifa, which stems firstly from an distinctive location. A two-level penthouse with an space of 117 sq. meters, plus a 35 sq. meters of balcony, situated solely tens of meters from the seafront, is a really uncommon function in the true property market.
“For comparability, Hayarkon Road in Tel Aviv – one of the vital sought-after places within the nation as a result of its proximity to the ocean, is situated about 100 meters from the seafront, so on this case it’s a property that’s considerably nearer to the seashore. The mixture of such a location with the traits of a penthouse explains the excessive value stage set within the deal – about NIS 53,000 per sq. meter (with out balconies) – a stage that doesn’t replicate the final Haifa market however moderately a novel and uncommon premium property.”
The underside line: When the ocean is open in entrance of you, and when the space to it’s significantly quick, it’s potential to achieve “Tel Aviv” costs within the Haifa market as properly. That is the costliest 4-room condo in Haifa.
Printed by Globes, Israel enterprise information – en.globes.co.il – on December 21, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
