Done Deal: Quick sale in Netanya is a buyer's dream

A new column: Real estate experts give their thoughts and opinions on local property deals around the country.

By AVI SASI
Netanya apartment 311 (photo credit: Avi Sasa )
Netanya apartment 311
(photo credit: Avi Sasa )
Avi Sasi is the CEO of Housing T.L.V Ltd.
Property details:
A four room apartment located on H'agila St Netanya on the ninth floor with a full sea view. It is 90 sqm with a 13 sqm balcony and a 10 sqm storage area on the garage level. The building has two elevators and one parking space for every apartment, as well as a gym. It is in an area defined as a new neighborhood and the building is five years old.It was sold by Housing TLV Ltd for 1.8 million NIS.
Location:
The apartment is in the heart of Netanya, just a two minute walk from the beach, with a full Mediterranean Sea view. This area is very desirable and in demand because of its well- maintained gardens, schools and kindergartens. The apartment itself is on a small and quiet street.
Deal Analysis:
The price per square meter for the apartment is NIS 20,000 while other apartments in this attractive area go for NIS 23,000 per sqm and more. An excellent deal from my point of view and it provides a safety net, should the buyers decide to make a quick profit by selling in the near future. Should the owner decide to rent it, he will receive a monthly rent of NIS 7,000, representing an interest of 4.5 percent.
For the seller, who inherited the apartment and lived out of the country, the quick transaction was convenient, and prompted the relatively low price. However, if the seller would have waited, he could have sold the apartment for at least NIS 50,000 more.
Bottom line:
The quick decision by the buyers helped them get a lower price and an attractive deal relative to other properties in the area. The seller settled on a lower price, looking to close the deal quickly.
An excellent deal for the buyers.
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