Location not determining factor for religious property buyers

The Jerusalem area was preferred by 30% between the ages of 18 and 24, while the center area was the choice spot for 37% of those between the ages of 45 and 64.

September 26, 2006 09:17
1 minute read.
wolfson towers 88 298

wolfson towers 88 298. (photo credit: Ariel Jerozolimski)


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


Although Jerusalem is the preferred location for 25 percent of the religious population buying homes, more than half of the buyers say area is not the decisive criteria for their choice. According to the first survey on house-buying habits conducted by Mishab, the leading construction company for the religious population in Israel, about 25% of the religious population chose Jerusalem as their preferred location, followed by the Petah Tikva area, which was chosen by 6%, Givat Shmuel by 4%, Bnei Brak and Ra'anana by 3% and Tel Aviv by 2%. For the remainder, which accounts over 50%, residential area was not the deciding issue when it comes to buying a property. Rather, determining criteria for buying a property included religious environment (31%), infrastructures for religious community services (30%), property specifications such as a Succah balcony, Shabbat elevator and two sinks (12%) or the vicinity of the property to parents (7%). When examining the residential areas in demand by the religious population, the survey showed there was nearly equal demand for buying a house in the area of Jerusalem with 28% or buying a house in the center area, which was demanded by 26%. The Jerusalem area was preferred by 30% between the ages of 18 and 24, while the center area was the choice spot for 37% of those between the ages of 45 and 64. The main sources of financing of the religious population when buying a house were mortgages and loans (40%), followed by financial means from the sale of a previous house (14%), a combination of own capital and loans (7%), money from parents (5%), savings (2%) and inheritance (1%), the report showed. Houses bought by the young religious population between the ages of 18 and 24 were financed 50% by mortgages and loans, but for those aged 45 to 54, mortgage and loans represented only 34% of the source of financing. "Market research conducted by the company over recent years, however, showed that about 40% of the funding by young couples for buying a house came from parents or relatives," said Shmuel Birenboim, CEO of Mishab, which builds and constructs religious neighborhoods all around the country. "It seems, though, that not all of those participating in the survey were willing to admit to the fact."

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection