A selection of apartments in central Jerusalem
|Jerusalem is a truly enchanting city with a myriad of neighborhoods each with its own unique character. Investing in a Jerusalem apartment has always been a long term safe bet for overseas and Israeli investors alike. Jerusalem's limited geographical capacity for development created by the scarcity of land means that supply will always be limited and fall short of demand. Demand for apartments in Jerusalem is not just driven by local residents but also by Jews from abroad who maintain an apartment for their frequent visits.|
|The most sought after neighborhoods are those that date back from before the creation of the State. Each neighborhood is characterized by a unique architectural style. Prices for apartments in these neighborhoods can run into the millions of dollars. Among the most expensive neighborhoods are the Jewish quarter of the Old City, the German Colony and Baka, the picturesque neighborhood of Ein Kerem, Yemin Moshe by the windmill, Katamon and Rehavia. These neighborhoods are where you will find Jerusalem's most up market apartments. There is no room to expand these areas, and therefore some feel that prices can never fall.|
|Other sought after areas are Beit
Hakerem, located near the city entrance, Arnona, located near the Ramat
Rachel kibbutz, Nachlaot, located by the Mahane Yehuda outdoor market
and the city center. In the suburbs of Jerusalem, a whole series of very
large neighborhoods have sprung up following the 6 day war in 1967. Gilo
is only 5 minutes South of Jerusalem, and is well located for the Malcha
Mall, Talpiot and Emek Refaim. 10 minutes in the car ( not during rush
hour ! ), and one can reach the Givat Ram University complex in central
Jerusalem. Other such areas include East Talpiot, Ramot, Har Homa,
Pizgat Zeev and Givat Zeev ( which is 20 minutes outside of the city ).
The images on this page are courtesy of Lafayette real estate agency in Jerusalem. The agency is located in Rahavia and offers apartments all over Jerusalem.
|Younger couples tend to buy their Jerusalem apartments in the newer neighborhoods, where the prices are more affordable. Rental incomes also differ depending on location, but percentage returns from rental income are highest in 3 room apartments in the newer neighbourhoods. Whereas the value of an apartment in Baka is double that of an apartment in Gilo, the rental income would onlyt be 50% higher. The question of course is whether the potential for price increases is the same in both neighborhoods.|
Whilst Jerusalem is a wonderful city, and tourists can easily spend the majority of their time in the city, in order to see the whole of the country, one has to spend time in other cities and other Israel Hotels to the North and South. Tiberias, The Galilee and Haifa are all a little too far North for day trips from Jerusalem. Whilst the Dead sea is an easy day trip from Jerusalem, Eilat certainly is not, and there is no choice but to spend at least a couple night in the southern Red Sea resort, especially if you are considering a day trip to Petra.