Israel’s City of the Future
Discover Modiin's Real Estate
Modiin is one the newest cities in Israel, built in the early 1990’s and which is still growing today. It is an urban area situated right in the center of Israel with an estimated population of 92,406 residents; however, the reported maximum capacity of the city is close to a million inhabitants. Modi\\\'in\\\'s popularity is a direct affect of its amazing location; the city is located just 35 kilometres from Tel Aviv and 30 kilometres from Jerusalem. With a young and growing population, multiple transportation options and proximity to Israel’s biggest cities, Modi\\\'in is prime for real estate investment.
Culture, History, and Business
The first settlement of the city was located on a hill. The existence of Modi’in dates back to the Ottoman period. The early Muslims also lived within the territories of the city.
The cornerstone of the present-day city was laid in the early 1990’s. It was constructed as a master-planned city featuring high standards of urbanization. Future growth and environmental issues and challenges were carefully considered and ideas incorporated during the early design stages. There were also plans for large green spaces in the city’s layout and consist of at least half of the city limits. In 1996, the city of Modi’in was officially opened for residency.
Modi’in has a strictly stipulated area for employment presumed to provide employment for over 35,000 people. It is located right next to Ben Shemen forest, stretching over 1,300,000 square meters.
The area is characterized by a modern industrial park with a peculiar construction style using stone and glass surrounded by a well-preserved green forest that contributes even more impressive nature-based beauty of Modi’in.
Although currently, the activity in this zone is heavily office industry-based, there is also an investment in skill development with educational institutions aimed at helping the employees acquire better skills in their respective fields.
Real Estate Appeal
Modiin has an annual mortgage interest rate of 3.43% for 20 Years Fixed-Rate with an Average Monthly Net Salary (After Tax) of $2,872.06.
The leasing and buying rates for housing depending on which part of you are interested in. Renting a one-bedroom apartment for one month in the City Center could go for around $875.74, while one in the suburbs is $734.49. Similarly, the cost of renting a three-bedroom in the city center and outside the city is $1,461.93 and $1,292.43, respectively. The cost of an apartment in the city center is $5,791.21 per sq. meter while outside the city center cost $5,579.33 per sq. meter. For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.
Explore Modiin's Real Estate
Local Real Estate Experts
Attractive Investments In Modiin
📍Over 3,367 investors explored Modiin