Hertzalia-Pituach is highly regarded as one of the most luxurious areas in all of Israel. This centrally located town built on the beaches of the Mediterranean is situated between Kvish Hachof (the coastal highway) on the west and the neighborhood of Nof Yam on the north. This beautiful town was once known as the “Rivlin” neighborhood named after the famed businessman and real estate developer who lived there and was one of the first builders of the area. Towards the end of the 1970’s, the neighborhood became recognized as one of the most luxurious and exclusive neighborhoods in Israel and became a destination for the upper crust within Israel’s social-economic circles.
The Lay of the Land
Hertzlia pituach mainly consists of single-family houses. The residents of this picturesque town are made up of both affluent Israelis as well as Jews from abroad who use their properties here as vacation homes. In addition, there are a number of diplomats and foreign ambassadors who reside in the neighborhood. In addition to the private villas there are also a number of new condominium developments built near the marina and close to beachfront.
“75% of the property lots in Hertzlia Pituach are half a dunam” says Eitan Bloomberg, owner and CEO of Anglo-Saxon, one of the first real estate brokerages in the area. “Built houses are typically between 400-700 sqm. The prices on the most desirable streets are about $4 million per dunam and on the less expensive streets between $2.5-$3.5 million” added Eitan.
One of the greatest determining factors regarding real estate values is the properties distance from the beach and major highways such as Kvish Hachof. The spread of prices between the east side of the city and the west side is roughly 10% according to Anglo-Saxons statistics. In the past 2 years, prices have stabilized compared to the years of 2005-2008 when there was a tremendous rise in home prices. Due to this new trend, property owners have recently adopted a more lenient attitude towards price negotiations.
Business and Pleasure
Hertzalia-Pituach has become a vibrant business center with many large international companies headquartered there. Additionally, the area has developed into a trendy vacation destination, hosting visitors from all over the country during the holidays and weekends.
“The former industrial zone in Hertzalia covers 649 dunams and in the past decade has been converted from being strictly industrial to a hub for high-tech businesses” stated Snapir Erez, head of the commercial unit for Anglo-Saxon. “This has opened up many new job opportunities for potential residents”. Today, Hertzalia is considered one for the leading high-tech areas in Israel with more than 1,500 companies located there and more than 800,000 sqm of office space supporting more than 35,000 workers.
Hertzalia-Pituach, while famous for its pristine beaches and beautifully landscaped streets, also has a vibrant nightlife. It is well known for it’s high-end restaurants, cafés, bars and other hot spots totaling over 250 different venues.
These are just some of the amenities that make Hertzalia Pituach such an attractive home for currently over 3,000 families who enjoy one of the highest standards of living in all of Israel.
For more information on real estate in Hertzlia-Pituach please call: 09-956-2256 or email email@example.com