People are always asking me where is the best place to invest in real estate in Israel. In the past few years I’ve been pushing places like Be’er Sheva due to the fact that the Army is building a large army base in the Negev and the city houses one of Israel’s major universities, Ben Gurion University.
In addition to this the city is an hour’s train ride from Tel Aviv and a lot of work has been done on infrastructure in the south of Israel that makes it easier to reach. Prices were low there and have been rising steadily over the past few years due to the advantages that I have outlined above.
It would seem therefore that in order to find the next best real estate investment in Israel you have to find a place where the prices are still low but that is undergoing changes similar to those that have happened in Be’er Sheva.
This can be in the form of new transportation lines linking the city to the center of the country, the construction of a new industrial area, the construction of army bases nearby, tourist attractions or the construction of a new college or university.
After singing the praises of the south I am now equally looking at options in the north of Israel. There are several cities in the northern part of the country that have some potential for real estate investors.
Let’s start with Zichron Yaakov. This is an historical city on the coast which attracts a lot of tourists. It is a half an hour train ride to either Tel Aviv or Haifa and is close to the industrial zone of Yochneam. The city has also attracted a lot of immigrants from English speaking countries in recent years. The prices there have risen drastically in the last few years.
Another city worth checking into is Afula. There are many new construction projects slated for the city. Afula is now more accessible to the center of the country due to the construction of the number 6 highway.
In addition to this a new industrial zone has been built which provides more places of work for the locals. The result of this is a rise in apartment prices over the past few years and a rise in demand for apartments in the city.
The northern city of Tiberius, located on the shores of Lake Kinneret has not been so lucky. However this might change in the future.
It is a tourist city due to its location on the shores of Lake Kinneret. It is an ancient city which will soon celebrate its 2000th birthday. Preservation of the historical section of the city is underway and new hotels are planned for the shore.
There are plans to build a college for pharmacists and the transfer of several army bases to the area. All this can help in raising the demand for apartments in the city thereby making it a place to watch for those seeking the best Israeli real estate investment.