Don’t overlook this quiet and pastoral gem in the heart of Jerusalem
San Simon borders the neighborhoods of Old Katamon, Rasco and Katamonim, and is centrally located and walking distance to German Colony, Kiryat Shmuel, and the Ir Ganim. In the heart of San Simon is a vast green park which is a meeting place and focal point for residents of the neighborhood and adjacent neighborhoods, young and old alike.
Access roads and transport to and from other parts of the city and outside the city are accessible, and in recent years this has increased the prestige and desirability of the neighborhood, mainly because of its relatively central location. Furthermore, with the rise of housing prices in the surrounding neighborhoods, buyers started showing a growing interest in apartments in San Simon, since the prices were much more reasonable. There is a growing demand for properties in the area. The variety of properties vary as well, from small starter apartments for young couples, to spacious 4 and 5 room properties. There are even large multi-level cottages with gardens and private entrances that give one a spacious feeling of owning a home in the middle of the city.
The neighborhood is characterized by a mixed populations of both religious and secular, and according to Rutly Peli of RE/MAX Vision in Jerusalem, there is a growing interest by young religious couples and new immigrants. Families and investors from France are also seeking to buy homes in the neighborhood, for its central location, access to public transportation, multi-synagogues, kindergartens and schools, shopping centers and a bank. Rutly indicates the number of transactions made over the past year confirming this trend. In May a year ago, a large property on Shai Agnon Street (150 sqm, 6 rooms, 1st floor) was sold for NIS 3,550,000 (NIS 26,667per sqm).
A medium-sized apartment on the same street (99 sqm, 4 rooms, 1st floor) was sold in January for NIS 2,250,000 (NIS 22,727 per sqm), while a smaller apartment on Ben Tabai Street (3.5 rooms, 69 sqm, 4th floor) sold in January at a price of NIS 1,450,000 (NIS 21,014 per sqm), so we’re seeing relatively reasonable prices in the neighborhood, with the average price per square meter around NIS 22,800. This is considerably less than surrounding neighborhoods such as Old Katamon, Baka and Talbieh.
These lower prices are attractive to both investors and young couples. but Peli cautions not to wait too long since prices have already started to rise slightly due to the new demand for this reasonable and relatively lower priced neighborhood.