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Hot Real Estate Market

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Hot Real Estate Market
בניין עם מרפסות מוקף בצמחיה, כביש עם מכונית והולכי רגל

When we entered Corona and throughout the last 2 years, we believed that we would see the prices decrease and many would take their properties off the market or decide not to sell or rent. We were proven wrong big time. During Corona, and now that we are sort of out of the woods, we are witnessing that the real estate market was and is booming. Properties are being put on the market for extraordinary prices and being sold like hot potatoes.


For example, a property on Rivka was sold in February for 2.15M NIS. The buyer decided for various reasons to sell the property already in June and it was put on the market last Thursday. Before anyone could say ‘boo’ the property is already being sold at 2.5M NIS (for the asking price).


Another example that specifically YYK Real Estate is involved in, is in the ‘Ganei Zion’ complex. In this deal, after putting it on the market, it went to the lawyers the next day. Of course, that’s not the only surprise, the price is breaking a record regarding the price per meter. These are just two examples out of many.


You may be asking how and why this is happening? Well, I’m here to explain. To put it simply, when there’s a high demand and a very low supply, this is the outcome. The main demand is coming from the United States, the UK and Australia, and of course the French. Jerusalem is a city, but a very small one (almost like a big kibbutz). No matter how many buildings will be built, the demand will always be high!