Undoubtedly the cheapest apartment sold in Israel in recent years

The cheapest real estate deal in Israel for 2024 has been revealed: a small 2.5-room apartment in Dimona, without a balcony, located on the ground floor of a five-story old building without an elevator. The apartment's location near Damri Center makes it desirable for rentals.

Located at 1215 HaMa’apil St. in Dimona, with a total size of 54 square meters (42 square meters in Tabu), the apartment was sold for the astonishingly low price of NIS 380,000—a price unlikely to be seen again in Israel in 2024.

This translates to a rare price of NIS 7,037 per square meter, significantly lower than the average in Dimona, which is NIS 8,536 per square meter for three-room apartments, according to updated data from the Yad2 website.

The transaction was handled by the attorney and notary office of Menkin Yaakov, which specializes in finding real estate bargains. 

"The apartment was not advertised in any medium and was located through information and connections. A quick negotiation led to its purchase at the aforementioned attractive price. It is advisable to carry out a renovation, estimated at about NIS 40,000. After the renovation, the customer will be able to rent the apartment for about NIS 2,200 a month. This yields a respectable return of 6.5%, far surpassing any bank deposit, not to mention an expected increase in value," says attorney Yaakov.

"Apartments that were purchased two or three years ago for NIS 300,000 are now worth about NIS 550,000 or more. There is massive construction of new neighborhoods, as well as the development of commercial and industrial areas. For instance, the Hashahar neighborhood is attracting many young couples from all over the country." attorney Menkin Yaakov added.