Some thoughts from the Jerusalem Real Estate Market
Hi! Speaking with friends and relatives who live abroad, I realized that although the situation in Israel is not easy now, many think of doing Alyia once the war is over.
For this reason, I decided to share with you tips from different professionals in the field of architecture and interior design in Israel.
This week, I invited Orna Even Parker , a local broker who will give us some insights into the Israeli market.
Stay tuned for more tips from different experts in the coming weeks.
In the meantime, I hope you enjoy the insights from Orna!
I have been asked several times if the real estate market is dead right now.
The answer is a firm “no”.
We all are familiar with the phrase “buy low, sell high” and the same can be said for the current situation.
A substantial number of Israeli buyers left the market during 2023 due to the increase of interest rates and the expensive cost of borrowing.
Now that Israel is in a war, many buyers are distracted and busy, understandably. Now is the right time to find those opportunities and sellers, especially those who must sell, will be more inclined to reduce their asking price.
We found that during the COVID pandemic, after the initial shock, many buyers, especially from overseas, bought sight unseen.
This caused a bottleneck and a dearth of good properties, once the pandemic was over and foreign buyers could enter the country.
We anticipate the same trend happening due to the current situation.
Buyers can enter the country, but if they choose not to, they can purchase as the COVID-19 buyers did, with videos and virtual tours.
Now more than ever, is the time to buy, especially as the situation deteriorates for Diaspora Jewry.
Orna Even Parker was born & raised in New York to an Israeli family, and made aliyah in 1994, from Los Angeles. Orna graduated from Barnard College / Columbia University and worked in computer training & consulting for many years. After developing a family building project in Nachlaot, first built in 1872, Orna passionately became a real estate agent and eventually joined RE/MAX , one of the oldest realty agencies in Israel. Orna specializes in Nachlaot, where she lives, Nachalat Achim, the city center of Jerusalem and all the adjacent neighborhoods. (Baka, Rechavia, Talbieh, German Colony).
If you have any questions, you can contact Orna here: firstname.lastname@example.org