A 242 square meter, newly-built 8-room house on Lehi Street in Gedera has been sold for NIS 5.53 million. The house is part of the Gedera K project developed by Nahmias Group in the southwest of Gedera, hundreds of meters away from the Gedera Interchange where Roads 7 and 40 intersect.

The project includes 30 semi-detached houses and 158 apartments in 7-8 floor buildings constructed from plans drawn up in 2014.

The house just sold has 2.5 floors and a 70 square meter basement area, with one room and a balcony above the two main floors. There is a 130 square meter garden area including parking and an access path. The house, which also has an elevator, will be ready for occupation in December 2026.

The real estate market in Gedera is small, with only 10-20 transactions per month. Over the past year, an average of 14 deals were carried out each month, of which about eight were for new apartments.

From the few projects currently being marketed in Gedera, it can be gleaned that prices for new 4-room apartments range around NIS 2.7-2.8 million, prices for 5-room apartments range around NIS 3.1-3.2 million, and penthouse apartments approach and sometimes even exceed NIS 4 million.

New standard-sized houses (about 150 square meters) fetch NIS 4.8 million, while larger 220-250 square meter houses fetched NIS 5.2-5.6 million. Prices for bigger, older houses are around NIS 4.5 million on average.

The price in this deal is at the upper end of the scale for Gedera but this is a rare property with eight rooms, a basement the size of a small apartment, and large balconies that total 64 square meters.

The downside of the house is the small size of the lot (211 square meters), which greatly reduces the area of the surrounding garden, but what is decisive in such deals is still the built area and not the yard area, and this weighed in favor of the high price.

Nahmias Group VP marketing and development Haim Cackon says, "Most buyers are families who come from surrounding cities and are looking for a large, new, planned house, in a neighborhood environment with planning certainty and long-term quality of life."

Appraiser Erez Cohen adds, "Compared with the local market in Gedera, the price in the deal is relatively high, reflecting a level of about NIS 23,000 per square meter. This is a figure that is higher than the prices of typical houses in the city, but one that is difficult to compare directly with other deals, given the unique nature of the home. Most private construction in Gedera is carried out independently, in smaller houses and in old neighborhoods, often without new infrastructure and without a uniform planning standard.

"In this case, the premium in the price per square meter is derived from a combination of a large built area, modern planning, a private elevator inside the house and comprehensive neighborhood development. However, the price level is approaching that used in house and garden development projects in more established communities on the coastal plain, and so the deal should not be seen as indicating a change in general price levels in the city, but rather as a point pricing of a distinct real estate product in a relatively new neighborhood."

Published by Globes, Israel business news - en.globes.co.il - on April 28, 2026.

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