Wednesday, April 6, 2011

Building in Israel

A few months ago, I saw an article stating that Israel was one of the hottest Real Estate markets in the world. I even wrote an article about it a few days ago. The question is, however, where? Where can I build?

I have been speaking to many people about this subject. Certain people push the West Bank, others the North, some say Jerusalem should be built up as much as possible. This is all great and all should be invested into and I won't say otherwise to any of them.

It seems to me that development in Israel is much different than America as well. In America, development happens in hot spots. New York, Los Angeles, Chicago. These are all big names. In Israel, however, the country is a big name. It doesn't really matter where you build, as long as you can get utilities. Cities can pop up everywhere and will be filled to capacity very quickly.

With each new development, many things have to be considered. Security from dissidents, location near other cities, religious makeup of your target market. The last one is extremely important. According to recent studies, one of the fastest growing communities in Israel is the Haredi (Ultra-Orthodox) market.

This is an extremely important market for one reason; the size of the community. The higher birthrate and the expansion of the borders of their community limits shows that this community is willing to live elsewhere if it is cost effective for them. The prices in Jerusalem, the holiest city in the world, are astronomical. Communities outside of Jerusalem are cheaper, offer more and can be specialized to the specifications of the needs of the community.

My opinion on this community is only because this is what I know. Other communities could mean different specifications. All of which should be addressed. Included in these needs are centers of commerce. Start-ups in these communities, already established companies, small businesses all need a place to set up shop and help the community out.

If you have any interest in helping development, contact me please. I have a list of developers looking to build and need an infusion of money. Help develop Israel, not just with business, but for places for the influx of people to live. No matter where you decide, don't think too hard, Israel is desirable. Not just one area.

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