Israeli Real Estate: The Investment to Make Despite the Pandemic
It is a fact that the need for office buildings has declined since COVID-19 emerged. Despite this, homes have always and will always be in demand in the country. Working from home is not a new idea, and people in the Israeli high-tech industry are already familiar with the set-up. Although, it is only now that other offices are more than willing to follow through with the concept. Even with the market for company buildings declining, the real estate market continues to boom.
An Israeli Goal
Now more than ever, families from within the country as well as outside the nation are investing in homes. The aim and ambition have always been to buy. As a result, the real estate demand is actually greater than the supply. Diaspora Jews feel like it is the perfect moment in history to invest in property back home, and they aren’t wrong at all. Thus, despite the uncertainty of the coronavirus, the real estate market is going up. The pandemic has also encouraged people to use their money on the most important things while they still can. With the birth rates being one of the highest globally and with immigration being so positive, real estate is a great investment because the risk is so low.
Homes Back Home
Jews and Israelis have constantly been expressing their intentions of moving back home since the virus spread. It is a safe haven compared to nations where antisemitism has surged. Also, those abroad feel like Israel is generally handling the COVID-19 situation better, especially compared to the USA, where many of the population are noncompliant with safety protocols. With 250 thousand Olim expected within five years, an increase in the population is expected, and even though the real estate business is extremely dependent on in-person meetings, it has adapted. For example, firms now offer aerial shots of the ongoing construction projects with the help of drones. Additionally, others are able to offer digital tours of apartments and other properties. These types of virtual interactions can freely give clients all the details. Now, it is also possible to provide professional advice regarding tax, finance, and law information needed to make decisions confidently.
A Promising Future
Real estate may have seen a slight decline this year, but this is a fear-based response and isn’t here to stay. With its high-tech and innovation scene, natural growth, and new prospective markets along the Persian Gulf, Israel is the place to be; it is the place to come home to. The housing market has remained strong throughout the Israeli economic crisis history. This resilience and ability to bounce back is what real estate buyers have faith in as they push through with purchases.
Having taken all these into account, choosing to invest in Israeli real-estate, especially in Jerusalem, would be a wise option for potential investors who want profitable assets. Although the returns might be just 3-4%, the growth per year on long-term projects could eventually increase. Security of gains is also very important and as the times have shown, slow but steady does make a difference.