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.

6 December 10 11:28, Ami Brand

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

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