(Source: New York Times)
Over the past five years, housing prices in Caesarea, a privately owned village about 40 kilometers (25 miles) north of Tel Aviv, have risen 30 to 50 percent, said Chana Kristal, owner of Chana Kristal Real Estate Caesarea. The growth was spurred in part by Israel’s improved infrastructure; better roads and railroads have allowed for easier commutes from Caesarea to Tel Aviv, said Yaron Netiv, sales manager of the Caesarea Development Corporation, which manages this 6,000-resident community. Also, in May, Caesarea’s golf course reopened after being redesigned by the golf course designer Pete Dye.
Though it has had little effect on housing prices, the economic downturn has slowed the volume of sales in Caesarea, said Yoram Indik, the listing agent for the property featured here. He said villas were taking about four to six months to sell.
Read Lisa Keys’ full article “House Hunting in … Israel” in the New York Times (December 29, 2009).