Karmiel home sold for NIS 5m

A detached house in Karmiel has been sold for NIS 5 million. The house was built in 1980 and is in the city’s western neighborhood, overlooking the Akko-Safed highway (Road 85) and the railway. The 286 square meter house is on a 536 square meter, sloping hillside lot. The house has been up for sale since 2024, when it was put on the market for NIS 5.8 million.

In recent years, Karmiel has seen an average of about 600 housing deals per year, of which about 20 are at prices of NIS 3 million or more. However, in 2025, there were almost 40 deals over NIS 3 million, reflecting development in this segment. What is accelerating the development are new housing projects, mostly semi-detached houses, which are located on Mount Karmi in the west of the city, and on Givat Makush in the east.

Until recent years, the high-end market in the city consisted exclusively of houses. However, following new construction, apartments high-rise blocks have also been added to this sector, including duplexes, penthouses and garden apartments, although their number is still not large.

Karmiel homes worth NIS 4 million and more, is a market that only began to take shape in 2023. Over the last three years, the Tax Authority has recorded 14 transactions at such prices, all of them houses.

Meanwhile, NIS 5 million threshold in Karmiel is a record that was only breached last year, with three transactions. The 286 square meter house and two more deals for detached houses. In February, a 10-year-old, 212-square-meter house on Necker Street was sold for NIS 5 million, in the most expensive deal ever made in the city, and last August, a new semi-detached house on Hochit Street was also sold for NIS 5 million. Unlike the other two deals, involving bigger houses, this house was only 150 square meters in size.

The high prices of houses with gardens last year, and the apartments are also in Karmiel’s high-end market, indicate that the demand for luxury apartments in the city may not be great in terms of the central region, but certainly one that contributes to the development of luxury real estate in the city.

In 2023, a 340 square meter house in Karmiel sold for NIS 4.4 million and a smaller house for NIS 3.3 million. The passage of time, the rarity of such large houses, on plots in such areas, explain the higher price.

The real estate broker Aharon Izigzon from RE/MAX said, “This is a very reasonable price, which reflects the price increases that have been recorded in the city in recent years. Land for building a detached house in Karmiel costs NIS 2-2.1 million, so you can easily reach NIS 4 million for a house. For example, we sold a 30-year-old house in the Makush neighborhood that requires a thorough renovation for NIS 4.05 million. The contractor Sulam Yaakov sells small semi-detached houses on Hochit Street for more than NIS 4 million.

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“In contrast, the lot on Chen Street is a double lot in size, with a much larger house, which also recently underwent a crazy renovation, so it can be considered a new house. Because of all this, NIS 5 million is not an excessive price.”

Published by Globes, Israel business news – en.globes.co.il – on February 17, 2026.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.