New Developments in Eilat

1 listing found in Shashamon 10

Eilat new projects — seaside towers on the Red Sea

Eilat (55,000 inhabitants) is Israel's only city on the Red Sea, a major tourist destination (3 million visitors per year) and free zone (0% VAT). The new construction market is doubly driven: by seasonal rental investment (Airbnb/hotel rentals), by growing local residential demand with tourism development. Projects focus on the seafront (Eilat Bay, Coral Beach) and in the north of the city (residential extension).

Buying new in Eilat presents unique tax advantages: free zone (no 17% VAT on most transactions), capital gains tax deductions, possibility to rent seasonally legally. Active developers (Azrieli, Electra, Aura, Leviev) mainly build 10-25 story towers oriented towards short-term rental investment or second homes.

Neighborhoods with the most active new projects

Eilat Bay (promenade, Royal Beach) — premium towers with Red Sea view, hotel services (pool, concierge). Prices: 45,000 to 70,000 ₪/m² for a new 3-4 room apartment.

Coral Beach (south) — projects near coral reefs, tourism-investment profile. Prices: 40,000 to 58,000 ₪/m².

Shahamon — northern residential extension, family apartments less touristic. Prices: 25,000 to 34,000 ₪/m².

Ganim — quiet residential neighborhood, recent projects at affordable prices. Prices: 22,000 to 30,000 ₪/m².

The new construction market in Eilat

For a new 3-4 room apartment in Eilat, expect from 1.1 million ₪ (Ganim) to 4 million ₪ (Royal Beach premium sea view). Short-term rental yield (Airbnb) can reach 7-10%, among the highest in Israel, but with marked seasonality and more management work. Eilat is accessible by plane (Ramon airport, 15 flights/day to Tel Aviv) and by route 90 (4h30 from Tel Aviv, 4h from Jerusalem).

For off-plan purchase and Eilat specificities, see our complete guide.

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Questions fréquentes sur Eilat

For a new 3-4 room apartment in Eilat, 1.1 to 4 million ₪ depending on location. Per m²: 22,000 ₪ (residential Ganim) to 70,000 ₪ (Royal Beach premium sea view). The seafront towers are among the most expensive properties in Israel after Tel Aviv center and Herzliya Pituah.

Eilat is a free zone: no 17% VAT on most goods and services, income tax deductions, advantages on real estate capital gains. For foreign investors, conditions are even more attractive. Warning: legislation evolves, check with an Israeli tax lawyer before buying.

Yes, Eilat offers Airbnb/short-term rental yields among the highest in Israel (7-10% gross). But seasonality is strong: peak summer, Passover, Sukkot, Hanukkah. Low in January-February and October. More complex management (cleaning, reception, maintenance). Some owners outsource to specialized concierge services.

Relevant if you like the desert/Red Sea climate and plan 4-8 weeks of use per year. The rest of the year, you can rent seasonally to offset costs. The property generally appreciates in value long-term thanks to tourism pressure. But logistics: Eilat is far (4h30 from Tel Aviv), you need to plan for it.

Azrieli, Electra, Aura, Leviev, Ginger, Y.H. Dimri. All major Israeli groups are present with projects of 80 to 300 units. Deliveries 2024-2028. Construction quality is high (premium towers) to meet the international investment market and second homes.