Residential Real Estate Investment in Israel–Emerging Cities
The Hadera Shoreline. Photo courtesy of Leon Stern, Buy Property In Israel's referral agent for Hadera
By Lyle Plocher for IsraelStrategist.com–Dec. 2011
What do the cities of Hadera, Haifa and Yavne have in common? If you guessed their proximity to the sea, you weren’t wrong–although Yavne is just slightly inland. Recently brought to light, however, is something interesting that the three cities share apart from their geographical locations. They were all chosen in a recent survey of Real Estate professionals in Israel as the best places in Israel to buy residential real estate in the coming year.
The accounting firm Deloitte Brightman Almagor Zohar recently took a survey of Real Estate professionals in Israel seeking their opinion on what the next year holds in store for real estate prices. Among the survey questions asked of the professionals: Where is the best place to invest in the coming year? Results showed that 33% of the senior Real Estate agents believed that Hadera was the best place to invest in the coming year, and 25% favored Yavne and Haifa. Rounding out the top cities were Ashkelon, Be’er Sheva and Rehovot, at 17%.
In terms of the direction of real estate prices over the next year, 37% of the professionals surveyed forecasted that prices would decline in Tel Aviv, while only 2% felt that prices would decline in Hadera, Rehovot and Rishon Lezion.
Hadera has been in the news this past year. Its Mayor, Haim Avitan, boldly proclaimed that Hadera has everything it needs to become the next Tel Aviv. While his vision may be lofty, it has some grounding. Hadera is actually larger in size than Tel Aviv, according to Avitan. Armed with an aggressive Master Plan, the Mayor’s goal is to see the population double by 2020 from its current 90,000 residents. The plan includes building thousands of housing units along the beach in Givat Olga and in new neighborhoods, as well as hotels and a boardwalk. Hadera is situated between Netanya and Caesarea on the Mediterranean coastline.
Lyle Plocher is the Director of Buy Property In Israel and can be reached by email at lyle@buypropertyinisrael.com. Buy Property In Israel can assist you with all of your Israel Real Estate needs.
