To many homebuyers, prices in Jerusalem seem far out of reach – with the impression being that the city is among the most expensive in Israel on average. But it isn't, and according to a Housing Ministry study released Sunday, Jerusalem is not even among the top ten most expensive places to buy a home in Israel, according to the survey. However, one community in Samaria did make the "top ten" list.
The top “honor” goes neither to Jerusalem, nor even Tel Aviv or Herzliya – but to the Sharon-area suburb of Tel Mond, where a dwelling costs on average NIS 2.54 million ($725,000). Prices there increased 12% over the past year. Tel Aviv came in second, with an average price of NIS 2.29 million for a home.
Fourth through seventh places belonged to Ramat Hasharon, Raanana, Shoham, and Mevaserret Zion, all wealthy suburbs that are known for high prices. Surprisingly, the third most expensive place in Israel to buy a home wasn't even in the center of the country – but in Omer, a suburb of Beersheva. There, the average price for a home was NIS 2.24 million, only slightly less than in Tel Aviv. Prices there were up 23% over the past year.
One community in Samaria – Oranit – made it into the Ministry's top ten most expensive communities. Oranit is located just a few kilometers from Rosh Ha'ayin, east of Petach Tikvah. The average home there cost NIS 1.98 million, up 8.5% over the past year.
Not quite in the top ten, but close, were Givat Shmuel, Kfar Sava, and Tzoren-Kadima.