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What's Going On In Israel? It Defies Belief!

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Hi Guys,

I had a call from a friend this afternoon who moved to Israel 18 months ago. She's in a right quandary.

She's regretting not buying there as soon as she arrived. She says that property prices over there just keep getting higher and higher.

I checked out a few figures, and she is right. Property is up 25% YOY, with the average house price now being ILS 958,000.

The weird thing is though, the average wage in Israel is only ILS 96,000? That means the average house price is more than 10 times the average salary :unsure: What's all that about?

It's nothing to do with Lie to Buy either, as mortgages in Israel are strictly controlled. Up until last month, you needed a 30% deposit. The government have now increased this rate to 40% deposit. All applicants go through strict credit checks etc.

The only thing I can think of is that many Jewish people who are going there from the likes of the UK, USA, Europe etc. are selling their homes for say £180,000 here and buying something for a similar price over there.

But my friend wants to know how long this crazy HPI can continue for before she finally buys something? Word on the street in Israel is that property prices are still going up and that they will not crash due to the fact more and more Jewish people are arriving every year.

Can you guys offer any insight on what's happening, and more importantly, how it will pan out over the next 2-3 years?

Many thanks.

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It depends on how much more Palestinian land can be grabbed before the US enforce any sanctions.

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It depends on how much more Palestinian land can be grabbed before the US enforce any sanctions.

Sadly... we either accept some sort of birth control program or we WILL have a f****** war. The space IS limited!

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http://www.congoplus.info/actualites/au-fil-des-jours/872-des-logements-sociaux-israeliens-au-congo-brazzaville-.html

In March 2010 prices rose by 46% in Tel Aviv and 42% in Jerusalem when compared with March 2009

The average house price in Tel Aviv today is 1.53 million shekels or 300,000 euros

To stop the bubble the Bank of Israel decided in May to put up interest rates to over 6%

Therefore taking interest rates back 1997-2002 levels

Todays rates are at 2.5% in 2008 they were at 4.5%

The G'vt also announced last month a new 'home-building programme' that starts in 2011 to 2012

They plan to build 70,000 homes a year mainly building on agricultural land

Your friend should look at the the 'Libon' or the Lebanon luxury property for sale in Beyrouth for a 190,000 euros

Just for the info (see my link) there seems to be so much cash in property in Isreal that today they are investing in the 'Congo'

The Israeli property developer AB Construction plan to build over a 1000 social homes in Brazzaville the capital these homes will be made out of cement and asbestos panels although this doesn't seem to bother the locals :(

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Hi Guys,

I had a call from a friend this afternoon who moved to Israel 18 months ago. She's in a right quandary.

She's regretting not buying there as soon as she arrived. She says that property prices over there just keep getting higher and higher.

I checked out a few figures, and she is right. Property is up 25% YOY, with the average house price now being ILS 958,000.

The weird thing is though, the average wage in Israel is only ILS 96,000? That means the average house price is more than 10 times the average salary :unsure: What's all that about?

It's nothing to do with Lie to Buy either, as mortgages in Israel are strictly controlled. Up until last month, you needed a 30% deposit. The government have now increased this rate to 40% deposit. All applicants go through strict credit checks etc.

The only thing I can think of is that many Jewish people who are going there from the likes of the UK, USA, Europe etc. are selling their homes for say £180,000 here and buying something for a similar price over there.

But my friend wants to know how long this crazy HPI can continue for before she finally buys something? Word on the street in Israel is that property prices are still going up and that they will not crash due to the fact more and more Jewish people are arriving every year.

Can you guys offer any insight on what's happening, and more importantly, how it will pan out over the next 2-3 years?

Many thanks.

Prices might drop a bit after Iran gets a nuclear weapon.

Just a thought.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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