Purchase your dream home in Baka today!
(Courtesy of Jerusalem Real Estate) Baka Jerusalem real estate draws many property seekers. The area provides a central location, rich history and a unique combination of architectural styles. Families and real estate investors have taken notice and continue to actively pursue real estate in Baka.
History of the Baka Neighborhood
Baka, whose official name is Geulim, is located in Southwest Jerusalem between Hevron and Harakevet Road. The word Baka means valley in Arabic, as Baka sits in a valley between two Jerusalem hills.
Built in the late 1800s, Baka gained popularity in the 1920s. Arabs and Christians in search of a more suburban setting started to leave the Old City. Most of these residents were in the upper middle class, and they constructed large single homes. Baka also represents a significant cultural center, as it houses the old Jerusalem Train Station.
The area’s population changed following the Israeli Independence War in 1948. Jerusalem was split into east and west, and Baka remained on the Israeli or western side of Jerusalem. Baka then gained further popularity from upper-middle-class families in the 1970s and ’80s. Many of the old mansions underwent renovations and transformed from large single homes to boutique apartment buildings.
Baka is currently known for being one of the neighborhoods in Jerusalem with the most interesting and eclectic architecture. The mixture of Mediterranean and British Colonial architecture creates an atmosphere unlike any other. This mixture is one reason why many English speakers gravitate to Baka. According to recent studies close to 25% of the total population of Baka is made up of native English speakers from all over the world. These English speakers contain a combination of both religious and secular Jews.
Baka Jerusalem real estate’s diversity and eclectic architecture are nice, but it is Baka’s location that makes it an excellent place to live. Hevron Road is a short walk from any home in Baka and has numerous bus lines that go further into the city. The Old City of Jerusalem is also close, at only a 25-30 minute walk. Emek Refaim Street and the First Station are close by for those who want to eat at one of the many restaurants or grab a coffee in one of the local coffee shops. Even Talpiot, which features shops and a commercial center, is only a 10-minute walk away. With its prime location, beautiful architecture and a diverse population, Baka stands out as one of the top neighborhoods in Jerusalem.
Despite the fact that Baka is primarily residential, it is extremely well-located in terms of local amenities, with many local points of interest conveniently within a short walk or drive.
In Baka, the Anglo community is warm and welcoming, with English-speaking Jews from all over the world living there. Those English speakers who live in Baka full time enjoy the many attractions and conveniences of the neighborhood; for example, there are so many shuls that you’re likely not to have to walk more than a few minutes to find one. English-speaking classes and programs are available not only on Shabbat, but also during the week.
In light of the popularity of Baka with the Anglo community, some buyers have purchased second homes in Baka and tend to come predominantly during the Chaggim season to take advantage of it.
Real Estate in Baka
In the real estate market in Jerusalem in general and particularly in the area of Baka, the major challenge is that there is not enough available land for construction in that area. Almost everything has already been built. There are a lot of old houses in the neighborhood, some of which are 30-40 years old, as well as historical buildings that are over 100 years old. Architecturally and historically, these houses are very special, and many of them have fascinating stories to tell.
Since there aren’t many opportunities in this neighborhood, very few new projects have been built in the last decade. Among the projects built in recent years are those under the TAMA 38 plan. In the TAMA 38 project, the old building is reinforced against earthquakes and about two new floors are built above it with new apartments.
There are two main types of TAMA 38 projects. In type 1, the building is not demolished, but reinforced with reinforced rooms, elevators and balconies; more space is added to the old apartments; and parking and storage rooms are added if possible. New floors with apartments are added on top of the old building being renovated. In type 2, which is usually more highly recommended, the building is completely razed and rebuilt.
TAMA 38 projects have both advantages and disadvantages. Type 1 projects provide a solution for more new apartments, which is important, but the apartment layouts are not always optimal. The developer company does not always build at a high enough standard for buyers from abroad, and in many cases the building remains an old building (such as the stairwells, apartment entrances, lighting, lobby) with only part of it actually being new. In type 2 projects, the entire building is demolished and rebuilt, which is more highly recommended, since it allows for an optimal layout of apartments, underground parking, new elevators, storage rooms, balconies and more. However, it is important to note that even in type 2 projects, the old tenants remain.
A new project, whether on new land or on a demolished and rebuilt building, is the most sought-after and prestigious type of real estate in Jerusalem in general and the Baka neighborhood in particular.
The type of projects that are more considered and sought after in the neighborhood are new boutique projects with fewer apartments (e.g., fewer than 10) that are very rare to find here. Some Tama 38 projects have 40-50 apartments and even more, and they cannot be compared in quality of life with luxury boutique buildings.
Baka is a region in Jerusalem that is home to many historic and unique houses and buildings that embody the character and charm of Jerusalem. These buildings are called “buildings for preservation” and in Hebrew they are called “shimur.” Buildings for preservation are preserved by the municipality to preserve the neighborhood’s history and beauty. There are various degrees of preservation (shimur) in these types of projects. The optimal preservation is when only the facades are preserved and everything else is rebuilt. Using this method, you can get both a luxurious and modern building and one that is reminiscent of Jerusalem.
Real Estate Opportunity
Thus, we learn that the most prestigious and sought-after real estate in Baka is a new project, in a new building, and if possible also with a distinctive Jerusalem feel. As mentioned, this is a dream that doesn’t come true very often. It’s a rare dream.
However, dreams can also come true, and there is a rare and extraordinary opportunity in the best and most sought-after location in the neighborhood at 12 Reuven Street. In the near future, a very prestigious boutique building will be built in the neighborhood that is going to have only seven apartments in total at the highest levels of luxury. Beyond that, it is a building with a lot of character and a very interesting history behind it. It is not just an ordinary building.
The project is also very interesting from an investment perspective, because location, location, location is the first rule in real estate. Location-wise, the project is at one of the most appealing points in the neighborhood. Additionally, the building is close to all the neighborhood attractions, adjacent to the park, close to the synagogues and directly adjacent to the railway park and German colony. Besides all this, the street is quiet and pastoral.
Another rule in real estate is to purchase a unique property; for instance, apartments near the coast of Israel are skyrocketing due to the lack of beach strips. It’s the same story here. The project at Reuven 12 will be unique, both in terms of the quality of the construction inside and out, and in terms of the size of the apartments, which are extremely hard to find today. Consequently, based on the project’s uniqueness and location, it is likely that the price will rise after the construction is completed.
Here is your chance to make a dream deal and invest in one of the most exciting projects in Jerusalem at the moment.
Get in touch with us today at www.reuven12.com.