The Harmony project in Ramat Beit Shemesh has generated significant buzz, not for family-sized apartments, but for its unique focus on compact, efficient living spaces. This is a new concept for the area, and it’s aimed squarely at a demographic that has been historically underserved: singles, young couples, and students. Forecasting the rental prices requires analyzing this target market.
Harmony is essentially creating a market where one didn’t previously exist. Before this project, finding a proper, modern studio or one-bedroom (2-room) apartment in the area was very difficult. Most options were converted basement units or divided apartments. Harmony offers new construction, modern amenities, and a community of peers. This combination of factors will allow these units to command a premium over older, less formal options.
Based on current market conditions and the premium for new construction, we can project the following rental prices upon the building’s completion and opening in late 2025. A studio apartment is expected to rent for approximately 3,200 to 3,600 NIS per month. A one-bedroom apartment, offering more defined living space, will likely be in the range of 3,800 to 4,400 NIS per month. These prices will be influenced by factors like floor level, specific layout, and any included amenities. The success of these rental prices will be a key indicator of a broader demographic shift in Beit Shemesh, signaling a growing need for diverse housing options beyond the traditional family apartment.
Too Long; Didn’t Read
- The Harmony building targets singles and young couples with new, modern, compact apartments.
- Projected monthly rental price for a studio is 3,200 to 3,600 NIS.
- Projected monthly rental price for a one-bedroom (2-room) apartment is 3,800 to 4,400 NIS.
- These prices reflect a premium for new construction and amenities tailored to a new demographic in the area.
