Daily Israel Report

No Longer a Backwater, Hadera Plans Big Push for Homes, Business

Hadera's mayor, Haim Avitan, sees his city as the next “garden spot” in Israel for home ownership, business, and even vacationing
By David Lev
First Publish: 2/14/2013, 2:34 PM

Hadera
Hadera
Israel news photo: Israel Police

Hadera's mayor, Haim Avitan, sees his city as the next “garden spot” in Israel for home ownership, business, and even vacationing. A new master plan unveiled Wednesday would see 18,000 new homes built, with attendant shopping and job opportunities – turning his city into “the next Tel Aviv,” he said.

Of the 18,000 homes, 2,500 will be villas and cottages for private building, with 1,300 luxury apartments right on the coast. The new neighborhoods are slated for the underdeveloped northeastern part of the city, with 2.5 kilometers of the currently pristine coast to be developed.

Along with homes, Hadera will get ten new hotels, with a total of 1,800 rooms. City fathers believe they can promote the city as a vacation destination, because it is close to the lower Galilee, with beaches and access to major highways. A large park will be built as well, as will several major shopping malls, including one with a whopping 40,000 square meters of shopping and entertainment space.

Although Hadera is a bit of a “dark horse” among Israeli homebuyers, it turns out that the city has slowly but steadily attracted buyers. Over the past two years, statistics show, home prices have risen between 30% and 50%, but analysts say that in light of the new projects, there are plenty of bargains still to be had in Hadera for enterprising investors.