Is it a good time to buy a house in Israel?
An insider’s view on the state of Jerusalem real estate market
We are already seeing the effects of the largest immigration ever of Europeans, Americans and Australians on the Israeli housing market. Jews from around the globe are realizing that if they ever want to actualize their dream of owning a home in Israel, especially in Jerusalem real estate hot spots, the time to act is now!
Immigration to Israel continues to rise. Ynet news (Article title: 2014 A record breaking year for aliyah) quotes Minister of Immigrant Absorption Sofa Landver who said: “We expect that some 10,000 new immigrants will come from France alone next year, and we will surpass 30,000 immigrants from around the world – and even more.”
The increase of the prices of Jerusalem real estate in the last years is not a “bubble” or a passing trend, as ever more Jews are reaching the decision that Israel is the best place to live. The government recognizes the need for more affordable housing in Israel, especially in the areas around Jerusalem, and (against enormous political pressure) continues to build.
Because of all of the above, when seeking real estate in Jerusalem it is critical to find a good agent who knows the market, is aware of what’s new and readily available, is quick to respond, trustworthy – and has good connections with real estate lawyers who will insure that everything is according to Israeli law and is able to complete the transaction.