Foreigners Interested In Israeli Real Estate?

(Image: Yoo building project in Tel Aviv, Credit: Brian Hendler, via JTA.org)


The interesting item about this article is not about the buildings (or even who is investing in them) but the fact that the city of Tel Aviv has drastically changed so much since the 1980's.

So much in fact that one New Yorker had this to say about the improvements.

(Jewish Telegraphic Agency) "The first time I was here was in 1983, and Tel Aviv has gone through a huge transformation from then to now," said Howard Glatzer, who runs a real estate fund that invests in New York City properties. "As a Jew from New York who is very accustomed to seeing high-rises everywhere, I think it's fantastic, it shows the vitality of Israel, and that's great." [...]

In 2002, foreign buyers invested $192 million in Israeli real estate. Just four years later the number had soared to $1.43 billion, according to the Bank of Israel.

Although many of the people investing in Israel are Israeli's themselves, the fact that wealthy individuals are risking a large portion of their capital in Israeli real estate speaks volumes about the nation.

Even Donald Trump seems to be investing in Israeli property, and there is speculation that he may construct a building there as well.

I've been scouting out Israeli property myself, and although the prices are a little expensive, the view of the land seems to be incredible (and well worth the cost).

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