Israel now World’s 3rd Hottest Real Estate Market

According to an independent survey published by Yediot Aharanot, one of the top three news outlets in the country, Israel is the third hottest real estate market in the world with China and Hong Kong as #1 and #2 respectively.

Although 2011 showed a decline in housing prices and closed transactions, a decline in interest rates recently offered by Israeli banks is seeing a resurgence of buyer interest.

Restrictive measures such as the requirement of 40% down payments have still not been lifted, and this author observes there is still a softening of prices from the peak years of 2009-10, but market interest and activity has increased as sellers compromise on prices.

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