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Prices of flats near campuses spike
Preparing for next academic year? Rental prices of apartments located around universities, colleges up 10-20% compared to last year
Ofer Petersburg
Bad news for students looking for an apartment: Ahead of the upcoming academic school year, the prices of apartments for rent around universities and colleges have jumped by 10-20% compared to last year.
An analysis conducted recently by the Real Estate Appraisers Association for Yedioth Ahronoth's economic supplement revealed that the price hike stems from the general leap in housing prices in Israel
in the past few months, which has not skipped rental fees.
According to Erez Cohen, chairman of the Real Estate Appraisers Association, the rental prices for a three-room apartment in the Ramat Aviv neighborhood, near Tel Aviv University, jumped by some 12% in the past few months. A Beersheba neighborhood located near Ben-Gurion University saw a price hike of at least 20% in recent months.
According to Dror Aloni of the Anglo Saxon real estate agency, the rental market for four to five-room apartments and highly renovated apartments in Haifa also saw a price hike compared to last year.
Four-room apartments rented for NIS 3,500 ($917) in the past are now rented for about NIS 4,000 ($1,048), and five-room apartments rented for NIS 4,000 are now rented for NIS 5,000 (1,310) a month and even more.
Cohen estimates that by the start of the school year in October, prices across the country will have increased by an additional 4-8% on average.
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