Ynet News Reports: Foreign Chareidi and religious investments in Israeli real estate over the past four years have brought in some $1.2 billion, a market study presented Wednesday at the ultra-Orthodox sector’s economic committee at Jerusalem’s International Convention Center revealed.
According to Bruno Bisroir, one of the committee’s organizers, “Jerusalem Bank, which specializes in mortgages from real estate buyers in the Chareidi sector, grants an amount of $71million-94 million per year in mortgages for Chardiei and religious foreign residents, for the purpose of purchasing apartments across the country.”
The data presented at the committee showed that foreign religious and Chareidi investments in Jerusalem alone brought in a total of $715 million over the past four years.
An additional $400 million were invested in plots of land for construction in the city.
Other Israeli cities preferred by foreign religious investors include Beit Shemesh, Bnei Brak, Ashdod, Modi’in-Ilit, Herzliya Pituach and Tel Aviv.
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3 Responses
Dear YW Editor LOY”T:
When quoting from Ynet and other Chiloni (irreligious) sources, please clean up their language. As a Conservative (i.e., not 100% Frum) Jewish journalist acquaintance of mine confirms, “ultra-Orthodox” is a derogatory term used by the New York Times and other enemies of Frum Jews. It definitely does not belong here. Please use “Chareidi” instead.
How about Torah Jews?
I am thrilled Yidden are buying in E”Y but please remember….you are making life very hard for those of us who actually live there! housing is getting more expensive by the month. Do you really need to buy every apt. in Katamon, Rehavia & the German colony for ridiculous prices? we went the E”Y when we were young & earned less. you stayed in the USA and earned more – and I wish you more hatzlacha….BUT please, now that you are finally ready to come to E”Y please realize the collateral damage you are causing us. I have had a few friends literally have homes bought out from under them just as they were going to sign as some Yid from the US (and once Australia) decide to throw in even more money to make sure they got the apt.
where are we going to go? Gaza?
Please…..just keep it in mind.