Netanya is an enchanting city that boasts spectacular views of the Mediterranean Sea and offers the slower pace and charm of a coastal town. Established almost ninety years ago, Netanya is currently undergoing a major expansion and renaissance.
Netanya has an even mix of religious and secular residents, and is located in Israel’s central district, twenty miles north of Tel Aviv and Herzliya. Under the leadership of its visionary mayor Miriam Feirberg, the city created the infrastructure to accommodate a large influx of residents and is on track to almost double its current population of 200,000 within the next five years.
Netanya’s famous waterfront is one of the longest coastlines in Israel, with nine miles of stunning beaches and promenades. For many years, Netanya was a desirable seaside resort city but over the past few decades, tourism slowed down.
However, the city has become fashionable again, particularly South Netanya, which is the lynchpin of the city’s growth and resurgence. South Netanya is comprised of several beautiful new neighborhoods – such as South Beach and Ir Yamim – that have drawn a diverse and upscale population. A number of fabulous residential towers, such as Ir Yamim’s Reserve Towers Dreams, offer panoramic, breathtaking views of the Mediterranean, and have generated tremendous interest from our English speaking (also known as “Anglo”) clientele. Finally, two newly constructed luxury hotels, the Ramada and Island, are a testament that the city has once again become a relevant vacation destination.
South Netanya Ashkenazi Congregation (SNAC) and the Young Israel are two South Netanya synagogues that have attracted a large nucleus of Anglo residents, and the attractive new Ir Yamim mall, which has an outstanding roster of retailers and restaurants, has addressed their shopping and entertainment needs. Although North Netanya has traditionally attracted a large Anglo population, we are now witnessing a movement by younger Anglo buyers toward the hip southern end of the city.
Interestingly, the more established Northern Netanya is also starting to draw younger buyers. This district has received a makeover, including the creation of a delightful promenade along the seashore and the renovation of the Square, a vibrant hub of activity that features gorgeous water fountains, daily video art festivals, concerts, sports activities and cultural events. In addition, the Square features a pond, arts and crafts stalls, and restaurants, which produce a constant buzz of excitement, or as our Netanya maven Ruthie Yudin pithily explains to clients, “it’s a party – and it must be done.”
In addition to the communities hugging the coast, Kiryat Hasharon, located on the city’s eastern end, is rapidly expanding due to its exceptional infrastructure and easy access to major national highways and the Netanya train station.
Netanya real estate is in strong demand as it offers a relatively affordable housing alternative for people who either work in greater Tel Aviv but cannot afford its expensive housing prices or families who prefer to live in a more suburban neighborhood. Many Anglo families have moved into Netanya over the years, and they continue to purchase in this market as it offers a high quality of life and excellent value for your money.
Gedaliah Borvick is the founder of My Israel Home (www.myisraelhome.com), a real estate agency focused on helping people from abroad buy and sell homes in Israel. To sign up for his monthly market updates, contact him at email@example.com.