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  • תמונת הסופר/תAriel Friedman, Adv

Israel's Sense Of Belonging And It's Impact On Investing

The sense of belonging and the shared cultural and religious ties to Israel motivate Jews from abroad to invest in real estate within the country. This not only supports the real estate market but also strengthens the bond between global Jewish communities and Israel.

Israel's real estate market is booming, despite the challenges posed by the pandemic, the security threats and the political uncertainty. According to Israel's Central Bureau of Statistics, property prices increased by 12.7 percent in the first three quarters of 2022 alone. One of the factors driving this growth is the demand from foreign residents, who own about 5 percent of Israeli real estate, worth billions of dollars.

There are many reasons why Jews from abroad choose to buy property in Israel. Some visit the country frequently and want a place to stay; others seek a safe haven in case of rising anti-Semitism in their home countries; and still others see it as a sound investment opportunity that can generate rental income. Buying property in Israel also expresses a sense of connection and commitment to the Jewish homeland and its people.

However, buying property in Israel is not a simple process, especially for foreigners who are not familiar with the local market, the legal system and the language. There are many challenges and pitfalls that can arise along the way, such as negotiating prices and payment terms, dealing with Israeli banks and mortgages, signing documents in Hebrew, registering at the Land Registry, paying taxes and fees, and managing the property from abroad.

That is why it is essential for foreign buyers to have professional guidance and assistance throughout the process. A reliable real estate agent can help them find the best properties that suit their

needs and preferences, negotiate on their behalf, and coordinate with other parties involved. A trustworthy lawyer can handle all the legal aspects of the transaction, such as drafting contracts, verifying ownership rights, applying for permits, opening escrow accounts, and representing the buyer in case of disputes.

Buying property in Israel can be a rewarding experience for Jews from abroad, both financially and emotionally. It can provide them with a home away from home, a source of income, and a way to support Israel's economy and society. It can also strengthen their sense of belonging and identity as part of the global Jewish family.

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