Mega-deals in recent years for homes near the beach have created the sense that the shoreline is the province of the rich and powerful. Nevertheless, if you move slightly north from Tel Aviv toward the Sharon region, quite a few projects with sea views can be found at prices that might suit those who are scaling down from a private house or for homeowners looking to upgrade. The Tzuk Shmurah Dreams Project of the Shikkun Uvinnui Group promises a sea view, a view of a nature reserve, and a quality of life 365 days a year just like a hotel, which is an encouraging report.
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In December 2015, Talmon Marko, founder and President of Waiver Corp., bought a penthouse on Rothschild Avenue in Tel Aviv for NIS 85 million.
Along Tel Aviv’s shore, Russian oligarchs have long since bought properties for prices in the NIS 100-110 million range. Currently, there are at least two residences up for sale there with prices between NIS 100-200 million. One of them is the penthouse at the Arlozorov 17 Tower, offered by Dan Real Estate, a subsidiary of the Dan public transportation company.
Photo Credit: PR
Over the last several years, the prices of luxury apartments have skyrocketed and real estate companies in Israel’s commercial capital have no qualms about suggesting high prices. Not by coincidence. Taking into account the fact that Israel’s entire shoreline totals perhaps 190 km, of which only 50 km serve as beaches or areas zoned for construction (the remainder holds nature reserves or are closed off for use by ports and other infrastructure), it is easy to understand how the shore became high-demand real estate.
Nevertheless, if one moves a bit northward from Tel Aviv, the shoreline offers no lack of projects offering a sea view at much friendlier prices, suitable even for Israelis seeking to upgrade. Prices for homes in these projects range from NIS 20-60,000 per square meter (as opposed to NIS 90-110,000 per m² in Tel Aviv), yet they still guarantee a high-end, rich technical specifications in addition to proximity to and a view of the sea.
The Tzukei Shmurah Dreams project under construction by the Shikkun Uvinnui Group is among them. The project is located in the Ir Yammim neighborhood of Netanya, bounded by the streets Uzi Hitman, Ehud Manor, and Natan Yonatan, directly on the beach. The project features three residential towers of 25 stories each, totaling 287 apartments built according to ‘green construction’ principles. To date, the first tower has already been built and populated. The second is in the process of accepting residents, with apartments being sold for approximately NIS 25,000 per m². The project sits right on the shore, boasts a sea view and overlooks the Iris Nature Reserve, which reaches the foot of the towers themselves. The project also offers a high-end set of technical specifications, such as a grand entrance pavilion with a doorman, a spa facility with a covered swimming pool, a residents’ club, a fitness center, gardens, and fountains.
According to Dorit Sadan, Vice President of Marketing at Shikkun Uvinnui, “The project was designed as a closed complex covering about 21,000 m² so that tower residents feel like they’re on vacation 365 days a year. Many people call the project a resort because of its unique structure, which resembles that of a hotel. Quality of life is noticeable in all the little details, whether in the entryway to the buildings through an expansive pavilion with transparent walls to the view outside or other designed spaces. Each apartment has two parking spaces and ‘smart home’ technology that facilitates control over the apartment’s electrical system. All this on the beachfront with access to the beach and breathtaking views of the nature reserve.”
The crown jewel of the project is a 223-m² penthouse with 300 m² of private balconies, one of which features a swimming pool and beachfront patio. That apartment is priced at NIS 15 million.
At present, 25% of buyers are foreign residents from Britain, the US, and South Africa. The project includes apartments with 4-6 rooms, lofts, and penthouses. A five-room residence on the 19th floor of the tower is offered for NIS 5.5 million. The residence, covering 141 m², has a 26-m² balcony. The loft in the building, measuring 236 m² with a 43-m² balcony, is offered for NIS 8.5 million.
“The Ir Yammim neighborhood is branded as a high socioeconomic area. As of today an apartment in the neighborhood goes for an average of NIS 2.8 million, where many of the homes are not beachfront property. Prices in the neighborhood have remained stable, with a slight increase of 3% in the last year. You have to remember that the resource of beachfront property is dwindling and prices are destined to rise more. Anyone who is willing to think outside the box and leave Tel Aviv will receive the advantages of a project on the beach with the sea on one side and a nature reserve on the other,” concluded Sadan.