In recent years there has been a phenomenal amount of change regarding property in Jerusalem and in some cases, whole blocks of the city have transformed and become orthodox. Even now, the city is witnessing constant change as new residents come and go.
The real estate market in Jerusalem is not influence by the same parameters as pure economics, it is not rational, but moved by forces of emotion and religion.
In the three most expensive neighborhoods in Jerusalem - The German Colony, Talbiya and Rehabya, apartments are now more expensive by 50% comparing to their value a few years ago. In the luxury districts like old Katamon and Baq'a the demand for real estate is high and some real estate properties are sold for over a million dollars. The more affordable neighborhoods like Har-Homa and Pisgat-Zeev are mainly populated by young couples.
In recent times, real estate in Jerusalem neighbourhoods such as Ramot, Ramat-Eshkol and Kiriyat Yovel have experienced a 70% increase in prices. This is without a doubt, a direct result of the growing Jewish-Orthodox communities who are purchasing large tracts of land on the instructions from their rabbis. Of course it stands to reason that these areas then too become complete orthodox areas as a result.
30,000 housing units are planned to be built in residential building in the entrance to the city. The plan is to keep the delicate balance of Jerusalem demographics and to stop younger, constructive population from leaving the city. The new plan is to build high residential buildings in order to keep a secular majority, since most religious-orthodox chose not to purchase apartments in buildings.
But not only secular Jewish residents leave Jerusalem, the average religious person can no longer afford a house in the city and is moving out, but since we are talking about large families with many children, the majority is still religious, which causes a problem because of the education in those demographic groups, which is limited to bible studies, and the ignorance leads to poverty.
In ten years, it is estimated that Jerusalem will spread to the west, and according to the behavior of some of the leading Jerusalem real estate agencies, the center of Jerusalem will be the hot spot again in a few years, and streets like Jaffa, King George and the market area will become stronger with the operation of the tram in Jerusalem, scheduled to open 2010.
While a vast number of employers and employees in Jerusalem are from nearby cities, only an extremely small number of those choose to take up residence in the city. On the other hand, the vast majority continue commute to and from work each day. Such a pattern clearly suggests that as a city, Jerusalem is not yet fulfilling the demands of potential residents.
The real estate market in Jerusalem is not influence by the same parameters as pure economics, it is not rational, but moved by forces of emotion and religion.
In the three most expensive neighborhoods in Jerusalem - The German Colony, Talbiya and Rehabya, apartments are now more expensive by 50% comparing to their value a few years ago. In the luxury districts like old Katamon and Baq'a the demand for real estate is high and some real estate properties are sold for over a million dollars. The more affordable neighborhoods like Har-Homa and Pisgat-Zeev are mainly populated by young couples.
In recent times, real estate in Jerusalem neighbourhoods such as Ramot, Ramat-Eshkol and Kiriyat Yovel have experienced a 70% increase in prices. This is without a doubt, a direct result of the growing Jewish-Orthodox communities who are purchasing large tracts of land on the instructions from their rabbis. Of course it stands to reason that these areas then too become complete orthodox areas as a result.
30,000 housing units are planned to be built in residential building in the entrance to the city. The plan is to keep the delicate balance of Jerusalem demographics and to stop younger, constructive population from leaving the city. The new plan is to build high residential buildings in order to keep a secular majority, since most religious-orthodox chose not to purchase apartments in buildings.
But not only secular Jewish residents leave Jerusalem, the average religious person can no longer afford a house in the city and is moving out, but since we are talking about large families with many children, the majority is still religious, which causes a problem because of the education in those demographic groups, which is limited to bible studies, and the ignorance leads to poverty.
In ten years, it is estimated that Jerusalem will spread to the west, and according to the behavior of some of the leading Jerusalem real estate agencies, the center of Jerusalem will be the hot spot again in a few years, and streets like Jaffa, King George and the market area will become stronger with the operation of the tram in Jerusalem, scheduled to open 2010.
While a vast number of employers and employees in Jerusalem are from nearby cities, only an extremely small number of those choose to take up residence in the city. On the other hand, the vast majority continue commute to and from work each day. Such a pattern clearly suggests that as a city, Jerusalem is not yet fulfilling the demands of potential residents.
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for more information about Hasid Brothers enter: Jerusalem Real Estate and also at Jerusalem Apartments
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