Israel, despite perennial fears of war, has emerged as one of the hottest property markets in the world. In the midst of the real estate collapse around the globe since 2008, Israel is listed as the fastest-rising property market on earth, according to Global Property Guide, a trade magazine that monitors the housing market. Local prices rose at the third-fastest rate in the world in 2010, with an inflation-adjusted 13.4% increase, reports Global Property Guide. The country with the fastest-rising prices was Latvia, with a 19.1% increase. It was followed by Singapore at 13.6%, and then Israel. In comparison, U.S. home prices dropped 5.3%, while those in Ireland plunged 11.6% last year. Furthermore, the pace of the U.S. housing market’s decline is picking up – the prices fell more in 2010 than in 2009.
Spend any time at all here in the Holy Land and you will see for yourself the truth of this assessment. The housing market is booming. Developers cannot keep up with demand. Savvy investors from overseas are taking advantage of the great prices and secure investment, knowing that their money won’t be lost. New and future olim are buying apartments and houses as fast as they can find them. And the best market for all your needs, investment or living, is in the north of Israel where you can buy beautiful homes for a tiny fraction of the price that you will find in the center.
So, what are you waiting for?
Take this property, for instance. Located in the Holy City of Tiberias, this apartment is only a 7 minute walk to the Kinneret. Surrounded by synagogues, stores, bakeries, restaurants, schools, bus transportation, this 4 room, 120 sq meter apartment is perfect for the overseas buyer looking to make a good investment or for the olim ready to make their home in Tiberias. The apartment is beautifully maintained, with many upgrades. And, of course, there is the view! The apartment is listed for NIS 630,000, around $172,000 (as of 28/2/11). Contact to learn more.