Neve Sharett, Tel Aviv.

Where it is

Neve Sharett sits in Tel Aviv's north-east corner. Kiryat Atidim, the high-tech campus, lies to the south-east. Tzahala and its villas lie to the north-west, and the Ramat HaHayal business district lies to the west. Open and agricultural land borders the neighbourhood to the north and east.

The internal streets are short and residential: Kehilat Cleveland, Rama, Philadelphia, Adirim, Almagor, Beit El, Korazim and HaTzanhanim. Many end in cul-de-sacs, which keeps through-traffic down but makes the area feel cut off. Derech Namir and the Ayalon are a short drive away.

A 1950s estate built for a growing city

Neve Sharett was built mostly in the 1950s as public housing. The typical building is a three- or four-storey "railway" block, long and narrow, often raised on pilotis. The flats were small and practical, designed for a young state housing new immigrants quickly.

Several streets are named after Jewish communities abroad, such as Cleveland and Philadelphia. Over the decades the area became a stable, modest neighbourhood, poorer than the north Tel Aviv around it.

That gap is the story of Neve Sharett. It sits beside some of the most expensive addresses in Israel, yet its housing stock has stayed tired. Renewal is finally closing the gap, block by block.

What it is actually like today

Day to day, Neve Sharett is quiet and green. The old blocks sit among wide lawns and mature trees, and traffic inside the estate is light. For children, the courtyards and small parks are a real asset.

The housing is the weak point. Most original buildings have no lift, no mamad and limited parking. Flats are small by modern standards, and many have been extended over the years, not always legally. Maintenance varies widely from one entrance to the next.

Employment is close. Ramat HaHayal and Kiryat Atidim together host a large share of Tel Aviv's tech and business jobs, and many residents walk or cycle to work. That proximity supports rental demand.

Shopping and services are adequate rather than generous. There are local groceries and a small commercial centre, but Ramat HaHayal's restaurant strip on HaBarzel is where most people go out. The beach and the city centre are a drive or a long bus ride away.

Public transport is the gap. Buses serve the area, but no light rail line runs through it today. Commuters into central Tel Aviv usually drive, and the roads around Ramat HaHayal are congested at rush hour.

Renewal: the big plans

Neve Sharett is one of the city's active pinui-binui zones, and several schemes are already well advanced.

The largest is the Cleveland complex on Kehilat Cleveland Street. In November 2024 the local planning committee approved a plan to replace 242 flats in nine old buildings with 547 new homes in buildings of six to twenty storeys. Tidhar and the Gabai Group each have their own part of the site. Fifteen per cent of the new units are to be let at a 40% discount for 25 years.

A second plan, promoted with the Levinstein group, covers about 12 dunams between Rama, Philadelphia and Adirim streets. In May 2025 the district committee approved it for deposit. It would replace 173 flats with 445 new ones, including two 30-storey towers, and add a public building and open space.

For owners in those blocks, renewal means a new flat with a lift, mamad and parking, usually larger than the old one. For everyone else, it means years of building sites, heavier traffic and a denser neighbourhood.

It also changes who lives here. New towers attract buyers paying north Tel Aviv prices. The affordable-rental quotas soften that shift, but do not stop it.

Who lives here

Neve Sharett mixes long-time residents, some of whom have lived here for decades, with younger families and renters drawn by the price and the location near work. Many tenants work in Ramat HaHayal or Atidim.

It is not a recognised Anglo hub. English speakers who choose it usually do so for the commute or the price, and build their networks through schools, work and nearby Tzahala or Ramat HaHayal.

Schools are allocated by municipal zoning. Check the zoning for the exact address, because the neighbourhood sits close to several catchments.

Prices and what you get

Neve Sharett is the cheapest entry point in this corner of north Tel Aviv, both by median price and per metre.

Registered sales, Jan 2023 – Jul 2026 (Tel Aviv-Yafo city to Aug 2026).

Per metre, Neve Sharett trades about a quarter below the city average. The trend has softened: the median per metre was about ₪40,260 in 2023 and ₪40,858 in 2024, then ₪38,040 in 2025 and about ₪34,813 in the partial 2026 data. The 2026 figure rests on only 14 deals, so treat it with care.

Recent registered deals show the range:

• HaTzanhanim Street, six rooms, 148 m², ₪7,300,000, July 2026
• Beit El Street, five rooms, 120 m², ₪4,220,000, July 2026
• Rama Street, four rooms, 113 m², ₪3,530,000, June 2026
• Korazim Street, two rooms, 31 m², ₪2,050,000, May 2026

The large, high-priced deals are almost certainly new or renewed stock. The small ones are the original estate. At the median of ₪2.875 million, expect an older three-room flat, or a small new unit.

Purchase tax at the ₪2,875,000 median works out as follows. A buyer of a single home pays about ₪39,300. An oleh within the Reg 12A window pays about ₪4,480. A foreign resident or buyer of an additional home pays ₪230,000.

As an investment, judge the net, not the gross. At the median price, each ₪1,000 of monthly rent equals about 0.42% gross a year. Deduct vacancy, maintenance on an ageing building, management and tax, and the net figure shrinks quickly.

The discount here is pricing in old buildings, poor transit and years of construction. It is not a free lunch.

Buying here: what to check before you sign

Who it suits

The verdict