(Courtesy of KLY Realty) Once deemed the “Beverly Hills” of Israel, Eden Hills, and more specifically the exclusive area of G’vaot Eden, less than a short 10-minute drive to Ramat Bet Shemesh, is officially open for business. G’vaot Eden is set to become a luxurious community surrounded by breathtaking nature and historical sites with access to all necessary shopping and services. The area features walking, running and cycling paths, common green areas, an archeological park and allocations of space for public buildings such as kindergartens, synagogues and sports centers.
On January 18, the Israel Land Authority (ILA) held a closed-envelope auction for 40 plots of highly desirable land in G’vaot Eden. Hundreds of bids were placed, and the 40 highest bidders have been notified. Some of the winning bidders are willing to sell their property rights on the secondary market.
What makes this opportunity so unique is that the ILA has made it known that land will no longer be released for single family homes, with limited exceptions. As a result of population growth and need for more housing, only apartment buildings will be permitted going forward. The large plots, between.25 and.33 acres, are located in the center of the country with all the benefits of being close to Beit Shemesh but having the open space and scenic views you desire. Given the size of the land, it is possible to construct homes between 5,000 and 7,000 sqft. Expected occupancy is within five years, which allows for up to three years of infrastructure and development of the area.