Real estate in new buildings from developers of Israel
Resale property from owners in Israel
Israel. Hot real estate deals
Real estate in Israel
Location, climate, and economy
Israel is a country located in the Middle East, on the eastern Mediterranean coast. The climate is humid Mediterranean (rainy cool winters, long hot summers). It is quite cold in the mountains, sometimes it snows.
The Israeli economy is recognized by experts as powerful, stable and diversified. The country has achieved significant results in the following areas: computer technology and software, telecommunications, biotechnology, diamond processing, medical equipment, chemicals, textiles, footwear, food products, wood products, and tobacco. Valuable minerals and natural gas are mined here. Agriculture uses a high-tech irrigation system.
Real estate market in Israel
According to experts, the cost of real estate in Israel in 2021 increased by 11%, at the beginning of 2022, the increase in real estate prices in Israel was already 11.5%. At the same time, experts do not see the threat of a “bubble” in the main cities, although they admit that real estate there is overvalued. They consider such rise in price not especially significant. Among the reasons are insufficient supply (although sales of new buildings have jumped by more than 35%, that is, demand is still not satisfied), tax policies that do not help create a balance between price and supply, and a lack of new land.
The government has made housing construction a priority for increasing affordability, having adopted a plan in 2021 to rapidly increase supply (housing construction, including renovations). However, the increase in prices is also influenced by the increased activity of investors, which has its own incentives, in particular, foreign repatriates who are just planning to arrive in Israel are already massively buying up real estate before they actually move, trying not to lose money in their countries of residence, in particular in Russia, and not wanting to buy cheap real estate there.
Another trend (analysis by the Ministry of Finance) is that buyers, in search of a lower cost of housing, rushed to the provinces in the hope of finding apartments and houses that are inexpensive by Israeli standards. Residential real estate in Israel in lesser-known and popular cities is really cheaper, which is confirmed by the conclusions of experts, statistics of completed transactions, this is also recorded by customer reviews on the Internet. So the price of real estate in Israel in the city of Arad for a four-room apartment with an area of 80-85 sq.m is 530,000-890,000 thousand shekels. While in Tel Aviv such an apartment costs about 4 million shekels (1.3 million USD), in Jerusalem - 2.4 million shekels (770 thousand USD), in Netanya from 900 thousand to 2 million USD. The average price of commercial real estate - office area from 25 to 50 square meters in a prestigious location (one of the major cities) will vary in the range of 500 thousand-1 million shekels. The share of land in private ownership in the country is less than 10% of the total land fund, the rest of it belongs to the state, land is in great deficit and very expensive. Given the high dynamics of price changes, it is necessary to use only up-to-date information.
Property types for sale
Real estate sold on the market is represented by: primary and secondary, residential and non-residential stock, including:
- apartments (duplexes, triplexes, penthouses, mini-penthouses, rooftop apartments, boutique apartments),
- villas, cottages, attached houses,
- commercial facilities (hotels, shops, warehouses, offices, etc.);
- land plots.
Real estate website in Israel
It is safer to use the information given by experts and follow their recommendations. GEOLN.COM real estate website (with a convenient search interface) contains a full real estate catalog in Israel.
Buying property in Israel by foreigners (nuances)
It is possible for repatriate foreigners to buy real estate in Israel under the Law of Return. The sale of real estate in Israel is regulated by the law, its procedure is regulated in detail and transparent.
Real estate in Israel is an expensive investment project, but it gives you the opportunity to consistently receive high rental income and live in a country with a stable economy.
Real estate in cities of Israel