The Capital of the Sharon Plain
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Netanya is very rich in greenery, adorned with fountains and sculptures, which make it one of the most beautiful cities in Israel. Netanya is not only famous for its abundant fruit plantations, but also for its diamond processing. Netanya’s shopping malls are the place for fantastic jewelry stores, where products of various jewelry companies can be found.
Culture, History, and Business
Netanya is a city located within the central areas of Israel. It is the city capital of the Sharon Plain. The name of the city is inspired by a famous Jewish American philanthropist and merchant, Nathan Straus.
By 2018, the city was ranked the 7th biggest city in Israel, with a total populace of 217,244 people. The population density is estimated to be 7,115 per square kilometer.
Tourism plays a major part in Netanya’s overall economic health. The city currently has 19 hotels featuring 1,452 rooms. Netanya’s many beaches have also created a holiday industry, which in turn features resorts, restaurants, and malls.
The cost of living in the city, when considered in terms of rent, cost of food, and other relevant parameters, the cost of living in Netanya is considerable compared to Tel Aviv, Jerusalem, and other major Israeli cities.
Real Estate Appeal
Investing in rental properties is the right choice of investment. Netanya offers attractive opportunities to foreign investors and companies from around the globe. This is full of architectural and cultural attractions. It has several theaters, libraries, and churches that span across various timelines. Netanya has many recreational parks that are suitable to let you lose daily life stress for all age groups. This is one of the primary factors that attract tourists to this location. In 2019, over 500,000 tourists from 71 countries visited Netanya. This is a welcome development for rental property investors since it drives more yield for them.
The city’s real estate market has a strong demand for short-term rental all year round. The property prices are dynamic for both rental and resale properties and have recorded a 25% increase since 2017. The cost of renting a one-bedroom in the city center and outside the city is 3,242.86₪ and 2,500.00₪, respectively. Similarly, the cost of renting a three-bedroom in the city center and outside the city is 5,031.25₪ and 4,300.00₪, respectively. The cost of an apartment in the city center is 19,333.33₪ per sq. meter while outside the city center cost 17,000.00₪ per sq. meter. For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.
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