Feb 27, 2010
We suspect there’s lots of building going on in Israel.
We know that there’s ample new construction of settlement homes in the West Bank ‘territories’. This new construction housing is tracked meticulously by the BBC.
We know that Israel real estate is hot. Prices have climbed more than 30% in the last two years forcing Israel to be one of the first modern economies to raise interest rates in the post-recession era. This we learned from a Wall Street Journal video showcasing Israel’s multi-million dollar homes and condos that are rocketing in value.
We also know that Israelis like to think they live in New York. And so, they like living in and building highrise residential and commercial buildings. The Yoo Towers Tel Aviv is a complex of two luxury residential skyscrapers, completed in 2007. They are the hottest properties in Tel Aviv, designed by world-reknowned architect Philipe Starck. The over 4000-foot condos can fetch prices in the Manhattan range, $1,000 to $2,000 dollars per square foot.
What we don’t know, however, is what and where are the NEW highrise construction projects being built in Israel. We don’t know what the coolest new condo projects along the beachfronts of Tel-Aviv are or even where to find out. We at BuzzBuzzHome feel that this is sought after information that not only would be of interest to Israelis but also to foreign property investors around the world. And, its for this reason that we’re headed to the Holy Land.
On Tuesday evening at 7:30pm a BuzzBuzzHome representative (me) will be boarding an EL AL flight and departing for the land of milk and honey. My mission is to find out what exactly is going on in Israeli New Development Real Estate. As a side project I may take a shot at learning who assasinated Hamas arms dealer Mahmoud al-Mabhouh.
BuzzBuzzHome will then use the results of my research to determine whether or not it would be advantageous to expand our listing data to this part of the Middle East.
We’d love to get your thoughts and feedback on adding Israel to our new residential development database. We’d also like to hear from you if you have friends/contacts in Israel that you think we may want to contact.