According to an analysis of real estate transactions conducted by the Kiryat Malakhi Municipality, apartment prices in the city have risen by about 35% over the past five years. Currently:
• A new 3-room apartment is sold on average starting at NIS 1.5 million
• A 4-room apartment ranges from NIS 1.85 million to NIS 1.98 million
• A 5-room apartment ranges between NIS 2 million and NIS 2.2 million
The rental market also continues to be active, with average rents of NIS 3,500–4,000 for a 3-room apartment, about 4,500 NIS for a 4-room apartment, and NIS 4,500–5,500 for a 5-room apartment, while the average annual yield is estimated at about 2.6%.
In recent years, Kiryat Malakhi has invested significant resources in establishing new educational institutions, including three schools and a science and technology center, expanding community services, and improving residents’ quality of life. The city has opened a parenting and family center, a new country club, an upgraded senior day center, and expanded the Child Development Unit.
Additionally, investments have been made to upgrade community centers, playgrounds, and public spaces. The data shows that the city’s development momentum, expansion of public services, and infrastructure improvements are also reflected in the demand impacting real estate prices.
Kiryat Malakhi’s master plan aims to double its population from 22,000 to approximately 50,000 residents, through the construction of thousands of new housing units, infrastructure development, expansion of employment areas, and encouragement of urban renewal. This includes residential towers of 18 floors and above, increasing commercial and employment spaces, turning the city into a regional center, reducing dependence on other cities, and improving city connectivity along with supportive infrastructure to make Kiryat Malakhi a more functional regional hub.
Kiryat Malakhi Mayor, Eliyahu Zohar, stated: “We see a clear trend of housing demand in the city. In recent years, we have undergone rapid development that attracts the attention of young families, home improvers, and investors, which is reflected in the data.”
This year, after decades, the city is also seeing its first urban renewal project. My Town Group has launched the marketing of the residential and commercial complex ‘My Town Center’ in the heart of Kiryat Malakhi, which involves the demolition of 40 apartments in the row houses and the construction of 2 meticulously designed 23-floor residential towers, 195 housing units, and a commercial complex of approximately 9,000 square meters with a designed piazza expected to include a variety of brand stores, restaurants, and cafes. For the first time, a modern and new commercial complex will be located within the city.
The project, covering an area of approximately 7 dunams, has a scope of about half a billion NIS, and the demolition work of the buildings is expected to take place within about 3 months, by February 2026.
‘My Town Center,’ located at a strategic point in the city at the intersection of Jabotinsky and Ben Gurion Streets, near Kiryat Malakhi Municipality building and within walking distance to all locations with accessibility to the city’s main transportation arteries, brings to the city a high-quality and meticulous level of construction with rich and luxurious detailing, including: separate entrances for residential buildings, a designed and private main lobby, floor concierges, a residents’ club for events and leisure, 3 elevators in each building, floor-level trash chutes, preparations for electric vehicle charging, an underground parking lot, stroller and bicycle parking, impressive landscape architecture with a sky garden above the commercial floors for residents’ enjoyment, and additional green areas.
The My Town Center project has been designed to suit a modern lifestyle while also catering to religious and traditional buyers seeking advanced functional solutions.
Yossi Hasson, CEO of My Town Group, noted: “We are proud to be part of Kiryat Malakhi’s development momentum, which brings significant change to the city’s urban and social landscape. The ‘My Town Center’ project represents the best of innovation and quality that we strive to provide. Our investment in this project reflects our commitment to offering high-quality housing solutions at every level, along with advanced services that will attract young families and investors. We are confident that the upgrades and modern infrastructure will position Kiryat Malakhi at the forefront of urban development in Israel.”