Israeli real estate - the most stable and dynamic in the world





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14.10.2010 17:44
Americans have lost during the crisis most of the value of their homes, with astonishment and admiration are looking at an Israeli real estate market, which it seems the most stable and dynamic in the world.

At least, such epithets used by the author a lengthy article published today in the Washington Post: one of the hottest property markets in the world and the fastest-rising property market on earth.

Israeli real estate, according to the author, a correspondent for Associated Press in Israel, succumbed under the blows of the crisis, while in many countries the prices of houses and apartments melted like April snow.

The author cites many examples of the "condominium boom in Israel, such as a high ranking Israel in the global real estate index Global Property Guide. Or the fact that housing prices have soared to the skies in major cities in Israel: Jerusalem, he says, the apartment costs an average of 403 thousand dollars, and in Tel Aviv - 560 thousand per year, prices rose 20%, and 2007 at 49%.

Joyful for Realtors and sad for the citizens of the record: this year, Israel ranks sixth out of 36 countries on the growth in property prices. And as a result of two years - at first.

It's about business, not about people who are not too tough for a roof over your head. However, the author writes that the price cut off from the real incomes of the population in Israel, where per capita GDP ranges from 30 thousand dollars.

However, the author of article, Israel has not threatened by the collapse of the real estate market and loans, as happened in the U.S.. And this is thanks to the banking system in Israel, which he calls "conservative."

Violence of credit, which led to a crisis in America, Israel is not observed, since the purchase of an apartment must have a capital of 40% of the cost of housing. In fact, we are talking about the recently adopted measures to tighten the rules of mortgage loans.
www.zagorodna.com
Content tags: Overseas property
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