Largest Israeli Port City
Discover Ashdod's Real Estate
Ashdod is home to the biggest Moroccan Jewish community in Israel. The city is the Israeli sixth-biggest city and home to the biggest port in Israel. Ashdod is located in the Southern District of Israel on the coast of the Mediterranean. It is situated between areas of Tel Aviv (32 kilometers north) and Ashkelon (20 kilometers south).
Culture, History, and Business
It is among the oldest cities in the Land of Israel. It was a city in southwest Israel. It covers an area of two old twin towns.
Ashdod first made its appearance in the 17th century as a fortified Canaanite city in today’s Tel-Ashdod region. It was established in 1956 and later incorporated in 1968.
In ancient Greece and Rome times, Ashdod was a member of the five cities of Israel. It also served as an essential harbor city, as seen from the archaeological findings.
As mentioned earlier, Ashdod has the largest port, and it is the only Southern Israel outlet to the Mediterranean Sea. The port is enclosed with breakwaters and also accounts for 60% of Israel’s imported goods.
Real Estate Appeal
In the past decade, the real estate market has been developing at a rapid pace because of continuous innovation and development. The positive trend is anticipated to continue as a lot of global investors are drawn to this city. The residential property market has experienced an enormous amount of improvement and transformation; there are more than 360 apartment buildings presently under construction in Ashdod. This certainly boosts the appeal of the Ashdod property market, hence, facilitating the entry of more investors into the market.
Also, the commercial space market has witnessed some significant changes as numerous organizations are increasingly seeking to locate their businesses and offices in the downtown of the largest port city of Israel. By the end of Q4 2020, the estimate of office complexes and buildings under construction will hit a whopping 70,000 square meters.
Rental yields at the city center are at a rate of 3.13% while outside the city center is 3.44%. The cost of renting a one-bedroom in the city center and outside the city is €854.94 and €723.41, respectively. Similarly, the cost of renting a three-bedroom in the city center and outside the city is €1,288.98 and €1,039.08, respectively. The cost of an apartment in the city center is €5,524.20 per sq. meter while outside the city center cost €4,165.07 per sq. meter. For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.
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