Cross Israel Highway brings construction boom to Gedera

Gedera's proximity to Road 6 is drawing many buyers seeking to live and work in the center of the country.

The proximity of the veteran settlement of Gedera to Road 6 (the Yitzhak Rabin or Cross Israel Highway) is drawing to the town many buyers seeking to live and work in the center of the country, but who cannot afford the prices in the center's heart. Gedera currently has 14,000 residents, but experts believe that the town's building boom will boost its population to 40,000 within a decade.

Most homes in Gedera are private houses, but there are also low-rise apartment buildings of up to four floors. Rising demand has not only sent prices soaring, but has also used up most of the town's housing inventory.

In old Gedera, land is very expensive, and most transactions are for the land, not the old buildings occupying it. The town's new neighborhoods, such as Shikun Tzameret, most comprise private houses. Most of the residents are young couples who replaced their dream of a small apartment near their place of work with a large house in the suburbs by the expressway.

Published by Globes [online], Israel business news - www.globes-online.com - on December 6, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
MORE FROM GLOBES
apartments, homes, real estate Rents rise 6.6% in a year

In Tel Aviv, the average apartment rent has risen by 85% in seven years, but returns for landlords remain low.

Twitter Facebook Linkedin RSS Newsletters גלובס