Ramat Gan’s house sold for NIS 8.4 million

A five-room detached house on a 423-square-meter plot at 20 Sapir Street in the Ramat Effal neighbourhood of Ramat Gan has been sold for NIS 8.4 million.

The agreement was signed in February, two weeks before the start of the war with Iran.

The Ramat Ifel neighbourhood began as a kibbutz west of the Sheba Medical Center (Tel Hashomer) and east of Road 4 (Geha) and eventually became a community village in 2008 after it was annexed by the Ramat Gan Municipality. Currently the neighbourhood still has only one exit/entrance going north, but another connection towards Highway 461 is planned in the future. Purple Line light rail stations would be built on both sides of the neighbourhood, but not within walking distance of the home sold on Sapir Street.

The neighbourhood is based on plans from the 1960s and 1970s, consisting mainly of detached houses. In the following years, new plans were approved in Ramat Ifal and the surrounding area, including the construction of thousands of housing units in apartment buildings.

Prices: Not many deals have been signed in the neighbourhood, but from the few that have been completed, it can be seen that house prices in the south of the neighbourhood (not related to new plans), which include houses built in the 1990s, are NIS 8-8.7 million.

In the north, prices are generally lower, as most properties there are smaller, and many were built more than 50 years ago.

Smaller, older homes sold for7–7.5 millionekels or less in 2025. In contrast, a large house next to the Neve Ifel nursing home was sold last year for NIS 9 million.

A house on nearby Barkat Street was purchased 10 years ago for NIS 6.45 million and sold about 10 months ago for NIS 8.7 million. What can be concluded from these deals is that the rate of increase in home prices in the neighbourhood has been much slower than in other locations. Another house on Barakat Street sold for NIS 8.5 million.

The property now being sold in Sapir Street is a two-storey detached house and a basement on a 423 square metre plot. The house has two floors of approximately 310 square metres, plus a basement of approximately 70 square metres. Construction of the house began in 1996 and was completed in 1998.

The house has a small protected space of 7 square metres in the basement area, which itself is well preserved.

The house on Sapir Street was last sold 15 years ago for NIS 5.55 million, so at the current deal, its price has increased by almost 50%, while the housing price index has increased by more than 100% since then, which is further evidence that the neighbourhood has recorded relatively moderate price growth.

Real Estate Appraiser Consultant. Erez Cohen says, “This deal well reflects the characteristics of the home and garden market near Tel Aviv and particularly the uniqueness of Ramat Eftel as an area with semi-rural character and limited housing supply.

“The price represents approximately NIS 34,500 per square meter, which puts the deal at the upper limit, but not higher than similar deals in areas with similar demand. In these types of properties, the price per square meter built is only a partial indicator, and sometimes even misleading.

“The land component likely contributes the most value to the transaction.” A plot of land measuring approximately 423 square meters is a relatively rare asset in the area and, in many cases, the main factor in determining pricing.

The structure’s contribution to the price also depends on its physical condition, age, and level of finishing. The basement adds utility but has less economic weight than the upper living areas.

The main thing is that the deal is a transaction at a high price level, which depends mainly on the value of the land and location. This reflects a relatively stable market, where the scarcity of available plots continues to support the price level. We also see a continued trend in which houses with gardens are becoming rarer in the housing market, especially in the central region, and so expect houses with gardens to retain their value and even increase over time.”