Israel’s property market offers solid returns on investment. As very cautious lenders, Israel’s banks protected its property market from the worldwide crash in 2008 , but prices are now rising steadily throughout the country.
People often ask where they should invest in Israeli real estate. Jerusalem is usually the most popular destination, but many cities in the centre of Israel have benefited more from steady economic growth in hi-tech, retail and industry. The natural gas dividend is further expected to fuel consumer and commercial confidence.
So, here are our four top tips for Israel property investment in 2014.
Ir Yamim in Netanya is the most sought-after neighborhood along Israel’s Gold Coast, and particularly popular with English-speaking visitors and retirees. New skyscrapers are springing up, with 4,500 new apartments at an average price of 2.3 million NIS ($600,000). As this neighborhood develops, now is a great time to buy a property in Netanya’s newest seafront community.
In Ra’anana, demand for property has been outstripping supply, but new communities are now being developed in the north of this favourite English-speaking city. The opening of Route 531 during 2014 will ease congestion at the entrance to Ra’anana and make it an even more popular place to live. Talk to Creative Estates about the various real estate projects currently available for investment.
Tel Mond is a popular suburb, located between Netanya and Ra’anana, with large new family houses being built all the time. Currently a newly built 6-room home will cost 2.7 million NIS ($770,000) and an older house of the same size costs 2.4 million NIS ($686,000). Families are moving to Tel Mond for the strong Anglo-Israeli community and great lifestyle.
Kfar Saba is our top tip for 2014, with 5-room apartments still available for 2 million NIS ($570,000). With exciting urban renewal plans, this city is 15 minutes from Tel Aviv and conveniently close to the facilities in Ra’anana, but prices are still reasonable. Don’t wait for that to change!
Talk to Creative Estates today about investing in properties in Kfar Saba, Tel Mond, Ra’anana and Netanya, and in cities throughout Israel.