The steady growth of Israel’s commercial business and start-up industries continues to fuel the country’s sizzling real estate market, where apartments and homes are being snapped up like hotcakes by Israelis and foreign buyers from the USA alike.
According to Israel’s Central Bureau of Statistics, Tel Aviv and Jerusalem rank as the top two cities where demand for flats amongst Israeli buyers is highest. The Contractors Association reported that he demand is such, that prices of apartments in Tel Aviv are rising by at least 4% per quarter, which is great for homeowners and investors. Nefesh B’Nefesh, which not only inspires aliyah from North America, but also diligently keeps track of incoming immigrant migration, revealed the Top 10 cities where new immigrants are moving too, as well as and purchasing properties. They are (in order of demand):
4 Prime Examples
“Tel Aviv has become a city of choice during the past few years because it has become a real metropolis with great restaurants, museums, beaches etc. In addition, standards of construction have improved, as well as local services to residents,” said a local realtor, whose clients are mostly Anglo immigrants of all ages.
Modiin, one of Israel’s newest and fastest growing cities, with a population of 100,000 people, has become a magnet for many English-speaking families from the USA, Canada, UK etc.
The city boasts a high quality of life quotient, underscored by quality schools, community services, synagogues, shopping centers, large parks and even Little League baseball teams. “Modiin is the most modern city in Israel, as its only 20 years old and has attracted a very high-caliber population which includes growing numbers of English-speaking residents, many of whom are from New York, New Jersey etc. They are attracted to real estate projects that cater to the lifestyle they were used to in the USA,” claimed a salesperson for a major building company that is erecting several projects in Modiin.
According to the latest government statistics, prices for a 4 room apartment in Modiin have risen by 10% during the last year alone. The continuous influx of both English and French speaking new immigrants has created a buyer’s market.
Another city which has attracted a lot of attention from English-speaking buyers and investors is Netanya. During the past decade, Netanya has undergone a radical transformation from being a crime-ridden, downtrodden city with a weak population to a bustling seaside metropolis, featuring thousands of English and French-speaking new immigrants, who’ve purchased breath-taking oceanfront properties along the city’s coastline. Netanya’s Mayor, Miriam Feierberg-Ikar has proudly proclaimed to Americans that her city is the “Mediterranean Miami Beach,” while telling potential French immigrants that Netanya is the “Mediterranean Riviera.”
The spectacular growth of Netanya has indeed made the city a prime locale for real estate investment. While the price of a 4 room apartment in Modiin rose by 10% during the past year, sans the sand, the price of a 4 room apartment in Netanya with the ocean as an alluring inducement, has risen by 12% since 2015.
Ra’anana, according to one prominent local real estate agent offers, “greater value for the money than Tel Aviv and Jerusalem in terms of size, standard and living experience.”
She added, “For the price of a luxury flat in Tel Aviv or Jerusalem, you can purchase a private house on a clean tree-lined street with a pool in Ra’anana. In addition, the community highlights rich cultural, religious and municipal services, as well as sports facilities, shopping centers, restaurants etc. It is what we call a ‘soft-landing’ for Anglos.”
Now you have the chance to get in on the act, the 2016 Israel Real Estate Fair is coming to the USA on September 25 at the Grand Hyatt NY.
For more information see http://lp.vp4.me/rdto