A Foregone Conclusion
Invest in an Apartment in Ramat Bet Shemesh
“According to the figures published in the Central Bureau of Statistics latest survey on home prices, the average price of an apartment rose by 1.5% in April 2011, and rose by 63.2% since the housing price index was begun in May 2007.”
"The rise reflects the change in prices after taking into account the quality and type of homes. The data is not final because additional deals that have been carried out during this period have yet to be reported. Comparison between March and April 2011 and the corresponding months of last year, found that prices rose 15.3% over the past year. Comparison between February-March 2011 and the corresponding months of last year found that prices rose 13.9%.
“Over the past few months it can be seen that house price rises are similar to those last February and in December 2010. Since January 2011, prices have risen 5% and during 2010 home prices rose 13%.”
And 100%? The above statistics, compiled by the Central Bureau of Statistics, refer to average prices, that is to say the rise in apartment prices that has taken place since May 2007 throughout the whole of Israel, which, perforce, does not give any indication of regional differences, or “special situations”, such as exist in religious areas, namely the acute shortage of apartments for the Charedi public, demand from which continues to grow inexorably, and at a far greater pace than that of other home-buying sectors. This serious imbalance between supply and demand applies most especially to apartments in Ramat Bet Shemesh, which has led to an unrelenting rise in prices, far beyond the average in the whole of Israel.
According to the statistics compiled from the extensive database of IPS, specifically of apartments in Ramat Bet Shemesh, prices of apartments in Ramat Bet Shemesh have risen, on average, by 100% over the same 4-year period.
In view of the continuing rising, and unsatisfied, demand from the religious public, and the extreme shortage of new, or second-hand, apartments in Ramat Bet Shemesh, prices seemed destined to rise still further, possibly substantially, and almost certainly at a greater pace than the Israel-average.
So, can there be a better investment than an apartment in Ramat Bet Shemesh, whether Alef, Bet, or a brand-new apartment in the new development area of Ramat Gimel?
