Israel, selected in April 2008 by Forbes as one of the worlds most promising real estate markets, has always attracted affluent Jews from the Diaspora eager to buy property in Jerusalem, however, with the rise of luxury high rises in Tel Aviv and Ramat Gan, more and more affluent Jews are buying second homes in Israel, near the spectacular Mediterranean sea. Luxury real estate in Israel seems to be unaffected by the recent world economic downturn. Tel Aviv apartments for sale in the price range of $3,000,000 and up still being purchased by the well to do, as are high-end penthouses with price tags as high as $30,000,000.
The high-end real estate market is meant for those that have the means to buy luxury properties in the most desirable locations; buyers of such properties from the UK, Belgium, Canada, USA and South Africa demand only the finest quality and the ultimate experience in living.
Although overseas real estate markets have been hit hard by the worlds financial crisis, it is unlikely that Israel’s luxury real estate market will be affected, particularly since the market has proven that is has the capacity to withstand even the toughest circumstances.
