How Much Did Avrohom Avinu Pay for the Me’aras Hamachpeilah — in Today’s Terms?
Avrohom Avinu’s unwavering insistence on purchasing the Me’aras Hamachpeilah for full price, as described in yesterday’s parsha, Parshas Chayei Sarah, continues to inspire reflection thousands of years later. Now, Israel’s Ministry of Housing has used that very transaction to illustrate lessons relevant to today’s real estate market — touching on property registration, the dangers of pressure buying, and the reality that prices have always seemed to rise.
Avrohom sought to acquire a burial plot for his wife, Sarah Imeinu. Though the Bnei Cheis courteously offered him a choice of their gravesites, they refused to sell him a permanent family plot. When Ephron HaChitti stepped forward and offered both the field and the cave as a gift, Avrohom declined, determined to pay the full value in cash. “I will give the price of the field; take it of me, and I will bury my dead there,” he said.
According to Ariel Rosenberg, head of the Sales Law Department and director of the Homebuyers Protection Division at Israel’s Ministry of Construction and Housing, the “first real estate transaction in Tanach” carries three lessons that remain valid in the modern market:
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The importance of proper registration — what we’d now call a title deed or tabu.
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The wisdom of avoiding deals made under emotional pressure.
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The timeless complaint that property prices only ever go up.
Rosenberg notes that Avrohom paid Ephron 400 shekel kesef — a substantial sum. But how much is that worth in today’s currency? The weight of the silver was about 640 kilograms, though some opinions place it anywhere between 4.5 kilograms and 17 tons. With silver currently priced around $1,250 per kilogram, that amount equals approximately $800,000 — or about 2.6 million shekels. That’s roughly a quarter of a million shekels more than the average price of a home in Israel today.
The structure above the Me’aras Hamachpeilah was built many centuries after Avrohom’s time, yet using its size as a basis for calculation offers perspective. Measuring 34 by 59.16 meters — a total of 2,111.4 square meters — Avrohom effectively paid around 1,231 shekels per square meter, an impressive figure for his era.
By comparison, a recent tender in Kiryat Arba for 156 residential units closed at a price of about 115,000 shekels per apartment — roughly 5% of what Avrohom paid — and that’s without accounting for the inflation of 3,704 years.
Even in the days of our forefather Avrohom, it seems, real estate was no bargain — and the market trend, as always, was only upward.
{Matzav.com}