In my 10 years of experience there have been many shifts in what we call ‘the best place to invest in a Jerusalem property’. It used to be Rehavia, Talibiye, etc. were the sought-after locations due to their proximity to the Western Wall. In the last couple of years there’s been a shift in where and what people would like to invest in. The areas that had the highest demand now have peaked in price, and the buildings are older, and don’t have all the amenities that are now a hot commodity. Investors now desire the whole package of amenities, including, private parking, shabbat elevator, sukka balcony and storage. Therefore, investors are willing to go beyond those neighborhoods in order to get new buildings with all the good stuff it has to offer.
So how can I get all of that without draining my bank account? The best way is to look for the new buildings that are being offered on paper, such as TAMAs, ‘pinuy binuy’ and new developments. An investor needs to do their research in which neighborhood/community they want to be affiliated with, find the new buildings going up, and make sure you research the different companies behind these new developments. There are ones that are more reliable, and those that are headaches to get involved in. These projects allow you to get a brand-new property at a reasonable price, with a comfortable payment schedule that legally protects the buyer. So, go beyond your first inclinations about your desired location, and push the boundaries to get your dream property in Jerusalem…and of course, don’t forget, get a really good real estate agent!