Penthouses Above the Sea
Israel’s coastline is one of the country’s rarest real estate assets. Of roughly 200 kilometers of shoreline, only about 60 kilometers can actually be developed – making every plot near the water a sought-after commodity whose value continues to rise. While prices in cities such as Tel Aviv and Herzliya reach around NIS 200,000 per square meter, attention is now shifting north to Netanya, where a true transformation is taking place in the new seaside neighborhoods – at about a third of the price.
Located in northern Netanya, about 100 meters from the shoreline, Hof HaZahav presents a new model of residential living in Israel. “The neighborhood combines open spaces with close proximity to the sea – a kind of everyday life within a holiday setting,” says Korin Nissan, sales representative for Briga’s Blue Bay project in Netanya. Throughout the neighborhood, luxury developments are being built around a hotel-inspired living concept, with the beach just steps away, a surf club, a gym and more. According to Dudu Machlouf, owner of a real estate marketing company, the target audience is “people who appreciate luxury, who want to live on the beachfront, with everything right beneath their home, all in one place.”
A Final Opportunity for Beachfront Luxury
For residents, this is a quality of life where the sea is not simply a view, but an inseparable part of everyday living. According to appraiser Israel Yaakov, this is “a very high-end neighborhood, comparable in quality to Ir Yamim in the southern part of Netanya.”
And when it comes to luxury on the beachfront, the penthouses at Briga’s Blue Bay project are undoubtedly the highlight. Defined by exceptional construction standards and premium finishes, the residences feature expansive living spaces, floor-to-ceiling windows and vast terraces overlooking the view. A typical penthouse of this kind spans around 240 sqm of built space, Nissan explains, with an additional 150 sqm of terraces.
“We are standing in a penthouse with 4-meter-high ceilings, floor-to-ceiling windows and breathtaking sea views. On the lower level, there is a spacious kitchen, a suite and a living room with panoramic views of the sea and green open spaces. On the upper level, there is a terrace with a heated swimming pool that can be enjoyed all year round, in both summer and winter, with panoramic views of the sea.”
Unlike standard developer apartments, which are usually delivered with a basic specification and without furniture or lighting, Briga delivers each residence fully equipped down to the last detail, as part of its luxury standard. “The apartment is sold exactly as you see it now,” explains real estate expert Dudu Machlouf. “Including the appliances, the furniture, even down to the linens. All that is left is to bring your suitcases and move into the penthouse.”
"And when it comes to beachfront luxury, the true highlight is undoubtedly the penthouses at Briga’s Blue Bay project."
Above the Sea. Above All.
Despite the high prices of luxury beachfront residences, the picture changes when Netanya is compared to central Israel. In the Blue Bay project, apartment prices average around NIS 60,000 per square meter – a dramatic gap compared to its southern neighbors, as Machlouf explains: “If I were to take this building and place it on the beachfront in Tel Aviv, it would cost NIS 200,000 per square meter.”
This gap attracts not only Israelis who appreciate luxury, but also entire communities of foreign residents who find in Netanya a winning combination of a warm community, accessibility and the highest standard of construction.
And as real estate prices continue to rise, developers estimate that these attractive prices will not remain for long. “We will gradually see prices rise to NIS 70,000 and 80,000 per square meter over time, because there is not much inventory like this,” Nissan explains. “There are very few apartments of this kind, and there is demand for them, especially among foreign residents who come here and want to see the sea.”
Appraiser Israel Yaakov also identifies this trend. “There are entire communities here of Anglo-Saxons, French and Russian residents. Through their synagogues and social circles, a community has been created here – and that community brings more people around it.”
For foreign residents who are used to living in cities of millions, he explains, a 30-minute drive from Netanya to Tel Aviv feels like a short drive within the city.
As available development land along the coastline continues to disappear, prices are expected to keep climbing. For those seeking the combination of seaside tranquility and international-standard living, Netanya appears to offer one of the last opportunities to fulfill that dream on a coastline that is nearing the end of new development.