Foreigner's guide to property market: Living by the sea

There are plenty of other locations north of Tel Aviv which offer a more relaxed pace of life and some great luxury real estate.

By LYLE PLOCHER
luxury home 311 (photo credit: Uriel Messa)
luxury home 311
(photo credit: Uriel Messa)
When most people think of living on the shores of the Mediterranean in Israel, Tel Aviv is the location that most frequently comes to mind.  However there are plenty of other locations north of the city that never sleeps which offer a more relaxed pace of life.
Herzliya Pitauch
Herzliya Pituach is an affluent neighborhood of Herzliya, which lies next to the sea and stretches eastward towards Route 2. Herzliya Pituach is home to many ambassadors and foreign diplomats, as well as some of Israel’s wealthiest business people. Some of Israel’s most expensive homes can be found in Herzliya Pituach.  Between the residential areas of Pituach and Route 2, lies a very significant section of high rise office towers which are host to hi-tech industry and the area is often referred to as Israel’s “Silicon valley”. In addition to Herzliya Pituach residents being able to walk to the beach, they are also privileged with a Marina and their very own luxury mall, the Arena mall. Of course, the area around the Marina and the mall are built up with hotels and luxury condos. There are only a few options if you want to live in an apartment in Herzliya Pituach, although they are pleasant ones, living next to the Marina. The remainder of the housing available in Herzliya Pituach consists of semi-detached cottages and detached villas. Apartments in the area start at or about $700,000 and cottages and villas start at about $1,500,000.
Netanya
Approximately 30 kilometers to the north of Tel Aviv, you will find the rapidly growing city of Netanya. A huge portion of the southern part of Netanya has just been built in the last seven or so years. The focal point of much of this recent development has been in an area known as Ir Yamim, a planned residential community of more than 4,000 dwellings. A drive through this southern portion of Netanya is impressive, with all of the apartment towers hovering over you.  The area enjoys a long grassy promenade that overlooks the beaches. Netanya attracts quite a large number of windsurfers, so you see them sailing over the water. Of course, due to open sometime this year will be the Ir Yamim Mall, a 70,000 square meter affair that is very modern looking and will draw shoppers from miles around. There is something distinctively different about this part of Israel’s coast. It feels so fresh and clean, perhaps because the majority of the area is still so new.
The real estate prices in Netanya are certainly more affordable than its pricey neighbor to the south, Herzliya Pituach and of course lower than Tel Aviv as well.  To live in Ir Yamin, you are probably talking about a starting price point in the $500,000 price range.
Caesarea
Next to the ancient port city named Caesarea by Herod the Great in honor of the Roman Emperor Caesar Augustus, lays the modern community of Caesarea. This community is unique in all of Israel as it is managed by an entity called the Caesarea Development Corporation (CDC), a private company established by the Edmond Benjamin de Rothschild Foundation in 1952. The Rothschild Family donated 35,000 dunams of land to the state of Israel and then leased it back for 200 years. Profits from the CDC are transferred to the Foundation, which in turn contributes funds to organizations throughout Israel that advance higher education and culture.
The residential areas of Caesarea are divided up into areas referred to as “clusters”.  At the present time there are 13 clusters with number 13 being what they call the “golf cluster” due to it’s proximity to the Caesarea Golf Course.  Caesarea boasts the country’s only professional 18 hole Golf Course, which went through a total re-design a few years ago by world renowned golf course designer, Pete Dye. Caesarea is one of Israel’s most upscale communities with the most desirable residences either having a golf course view or a sea view or both. Real estate prices in Caesarea for semi-detached or detached homes start in the approximately $1 Million price range.   
 
Lyle Plocher is the Director of Buy Property In Israel and can be reached by email at lyle@buypropertyinisrael.com.
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