Stone houses in Jerusalem.
(photo credit: Adi Benzaken)
Israel is a small country and the real-estate market is in high demand. More and more Diaspora Jews are buying homes in Israel for an investment, a vacation home, a sense of security or simply to feel more connected to the Land of Israel.
Jerusalemites often joke that the luxury apartments overlooking the Old City walls are “kosher for Passover” because they are only occupied once a year. But purchasing a home in Israel from abroad is a way to stay connected to the Jewish state, a catalyst to visit more often and to feel more at home in the homeland.
However, buying an apartment in Israel can be a true headache for some new immigrants and Diaspora Jews.
Whether struggling with the language barrier, deciphering the legalities or facing the infamous tribulations of Israeli bureaucracy, the dream to put down roots in Israel can quickly become a nightmare for many – not to mention the steep prices.
For years the Israeli real-estate market has been dominated by various organizations that make bulk purchases to enhance their purchasing power. Until now, the required membership in these organizations has left Diaspora Jews out of the loop and facing higher prices.
The newly launched “The Promised Land” website (www.p-land.co.il) is working on the same model to enhance the purchasing power of Diaspora Jews to receive lower prices while also guiding the process and helping with the legalities.
“At The Promised Land we chose to give the advantaged buying power to world Jewry because they are the new immigrants of tomorrow,” The Promised Land CEO Einat Zakaria said. “They will have a home in Israel, visit more often and it will be easier for them to consider making aliya. The demand is here; we’re just here to facilitate the process and help give price advantages” Nefesh B’Nefesh, an aliya organization, helps new immigrants with many additional considerations associated with buying a new home. It provides insight into local neighborhoods, including the resident populations, school systems and religious life.
Although buying a new home from overseas seems quite complicated, the organizational infrastructure to help world Jewry has expanded greatly over the past decade and is ready to help you find a home in Israel.