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"Foreign residents are not ready to wait and attack new projects, apartments and second-hand houses"

The residential real estate market is waking up, with immigrants and foreign residents rushing to secure a property in Israel. We are organizing together and want to purchase apartments in the same project "

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• Real Estate

In partnership with Franchi Real Estate

Sunday, 07 March 2021, 19:45 Updated: 19:51

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Marcello Incelini, CEO and owner of Franchi Real Estate (Photo: PR)

Anyone who hurried to eulogize the housing market in Israel will probably be required to recalculate a route.

2020 was signed with an impressive volume of deals, and audiences are acquiring a variety that included investors, housing improvers and young couples.

A survey of the residential real estate industry recently published by the Chief Economist's Division of the Ministry of Finance shows that last December 13,400 transactions were recorded for the purchase of new and second-hand apartments - 20% higher than in the previous year, the highest since summer 2015 There is

a real line in everything related to sales of new dwellings, with the 5,400 dwellings sold by construction companies in December last year representing a record of more than two decades.As for second-hand dwellings, 8,000 transactions were made in the period reviewed - an increase of 21% compared to December 2019, 12% compared to November 2020.

Finance Minister Israel Katz's decision last April to lower the purchase tax from 8% to its previous level - 5%, also gave its signals in the field, and translated into an increase in the volume of purchases by investors returning to the market after years of absence .

Thus, 2,500 apartments were purchased by investors - a jump of no less than 65% compared to December 2019.

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Franchi Real Estate Head Office, Neve Avivim Ramat Aviv (Photo: PR)

The area is stimulating

The increase in the volume of transactions is an expression of growing interest not only among the local public, but also overseas: foreign residents and new immigrants, who want to secure a property in Israel - and as soon as possible.

"The demand for apartments is huge, there is a madness here that I do not remember like it," describes Marcello Incelini, owner and CEO of FRANCHI REAL ESTATE, a company that specializes in marketing projects and selling second-hand apartments and houses to residents. Except and new immigrants.

"Our branches in Tel Aviv and overseas - in the United States, Canada, and Western Europe - are flooded with inquiries.

People are not ready to wait and attack the properties: new projects and urban renewal projects, including those that are currently under construction and will be inhabited only in a few years, alongside second-hand apartments and houses. "

Incelini explains the race for two main reasons:" The corona is raging in the US In Europe, the number of infections continues to rise every day and people are in fear. When vaccines are being hunted all over the world, in Israel the situation is the opposite. The rapid treatment of vaccines and bringing them to Israel has made millions vaccinated. People want to feel safe. Plague".

"Beyond that," continues Incelini, "it is clear that lowering the purchase tax has also created a significant effect and encouraged the return of investors to the market. The bottom line is that the area is waking up and the demand for apartments is only growing. I have no doubt Of new immigrants and foreign residents landing in Israel. "

In the emerging real estate market, Incelini's close ties with Jewish communities abroad play an important role, and serve as a channel of communication for entrepreneurs and contractors seeking to promote projects. This is of even greater importance when considering The changing buyer profile of the Corona Age.

"Today it is no longer a single person or a couple coming alone, but a much wider circle," Incelini updates. "This includes the extended family - sometimes even generations of grandparents, parents and children - and not Once also the neighbors and friends.

Everyone gets organized together, with the stated goal being to live close by and be close to each other.

Therefore, the demand is for several apartments in the same project. "

Franchi Real Estate Head Office, Neve Avivim Ramat Aviv (Photo: PR)

Tel Aviv first

As for the favorite cities for foreign residents and immigrants, Incelini updates that Tel Aviv is at the top of the list, along with its neighbors, Ramat Gan and Givatayim.

"Another attraction is the Sharon area with Raanana - which is characterized by an Anglo-Saxon population - Herzliya and Ramat Hasharon. The mix is ​​varied: from 3-room apartments to luxurious penthouses, and prices that start at NIS 1.5 million and can climb to tens of millions."

Meanwhile, despite the geographical limitations and closed skies, Franchi Real Estate is working to make it easier for buyers - both in buying the property and in the future move to Israel. "Absorbing in a new country is a complex process," says Incelini. Real estate over the years in the care of new immigrants and foreign residents, ultimately makes the difference. It starts with virtual tours of potential apartments and organizing meetings with sellers, continues with airport pick-up and booking of hotels for the first days in Israel, We are here for them with close accompaniment all the way. "

Venice - the beginning of the family heritage (Photo: PR)

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