As we see the light at the end of the tunnel and the new road to and from Efrat is being completed, as we speak, we also see the increase in prices in the various communities in Efrat.
If prices in the older sections, such as Gefen, Rimon and Teena were between 8,000 to 10,000 NIS per sqm up to a year ago, we see now that the prices are already going up to around 12,000 to 13,000 NIS per sqm. Of course this all depends on location, size, condition and amenities.
Let’s shift to the more trendy areas, the newer communities, Dagan and Tamar. These areas were built only 4 years ago, and the prices have skyrocketed. Prices up to a year ago were around 12,000 NIS per sqm, depending on the same factors mentioned above, and are now between 14,000 to 15,000 NIS per sqm. These areas are closer to Jerusalem, making it more accessible for those who work in Jerusalem, and want to go out for a fun night in Jerusalem. It attracts a younger crowd in the mid-20s to early 30s.
Another interesting trend that has been going in the last couple of months, especially since Corona, is that we’re seeing a shift of young couples buying in the older parts of Efrat, due to the size of the property that they can receive and the better price for the time being. On the flipside of the newer communities, the older part is closer to the Gush intersection, where there are supermarkets, mall and a new business center in Kfar Etzion and still these areas are just 20 minutes from Jerusalem.
Just to sum it up, I think that Efrat is the newest place to invest in. It holds so many positive aspects, bigger properties, privacy, young environment with a mix of anglos and Israelis, close to Jerusalem. It is still much cheaper than buying in Jerusalem and you get more for your money. So the time is now to buy in these areas before we can completely see the light in the tunnel and the prices rise.
