If you are considering buying property in Israel and need assistance of any kind, contact Lyle Plocher at lyle@buypropertyinisrael.com

Asking Price is 1,000,090 NIS

 For more information about this villa, contact Lyle Plocher at lyle@buypropertyinisrael.com

There are 2 kitchens – a formal large open kitchen off the living room plus a fully equipped smaller kitchen for the serious and messy cooking which leads to a large covered and equipped barbecue terrace.  Covered, enclosed garage. 

In addition, there is a lovely 3 bedroom apartment on a lower level, with its own views, terrace and separate entrance.

Asking Price is 1,400,000 NIS

For more information about this property, contact Lyle Plocher at lyle@buypropertyinisrael.com

Contact Lyle Plocher at lyle@buypropertyinisrael.com to be put in contact with an Agent in the community of your choice.

Read what he had to say in an article at jpost.com

As Warren Buffett has said regarding “markets” and when to buy, etc., “when others are greedy, be fearful- when others are fearful, be greedy”.

Let us put you in touch with a competent Real Estate Agent in Israel who specializes in the area you are interested in.  Simply send an e-mail to lyle@buypropertyinisrael.com to get the process started.

Read the Ynetnews.com article about the Israeli Real Estate Market

Contact Lyle Plocher at lyle@buypropertyinisrael.com , let me know your thoughts, questions, situation, etc and the city/neighborhood you would like to concentrate on and I will put you in touch with a professional Agent. 

Wherever you happen to be spending the Holiday, I wish you a Happy Hanukkah!

by John Benzaquen

For Jews living in Britain, Canada or the northern part of the United States, Eilat is “summer in winter,” with the added advantage of being in Israel.

Since it was founded as an urban entity in 1950, Eilat has developed as a resort. Its economy is oriented toward catering for the needs of tourists, both Israelis and those from overseas who want to sample the delights of a resort city on the azure waters of the Red Sea. It has the added attraction of been only a one-hour flight from Jerusalem and the Dead Sea.

Eilat is a virtual oasis in the middle of a vast desert. It has become Israel’s largest tourist center, with about 12,000 of the country’s 50,000 hotel rooms. Many of the locals work in the hotel industry, but most of them make a living out of the tourist shops, restaurants and pubs.

Eilat’s resort orientation has an important bearing on the real estate industry. Residential real estate is divided between the needs of the 60,000 local inhabitants and those who can afford the luxury of a holiday home.

“Demand for real estate in our city is high, and I mean demand from local Eilati buyers,” Nissim Harosh, manager of the local real estate brokerage firm RE/Max, told The Jerusalem Post. “Demand is greater than supply, and 2,000 new homes are in the process of development.

“For example, Perez Bone Hanegev is building a closed compound of 36 residential units – 100-square-meter ground-floor garden apartments and 120-sq.-m. duplexes in the Shahmon neighborhood. The apartments are been marketed from NIS 800,000 to NIS 1,030,000.

“Four-room 120-sq.-m. apartments in Eilat sell for an average NIS 750,000, which at today’s ridiculous shekel-dollar exchange rate comes to about $200,000. A semi-detached home costs an average NIS 1.2 million, and a 400-sq.-m. plot of land for building a single-family home costs NIS 1.2 million,” Harosh said.

Most of the local population cannot afford the many holiday homes being built in the city; they are been marketed to overseas customers and local businessmen. The prices of these holiday homes are still being quoted in dollars, and they are very expensive.

One of the most favored areas in Eilat for luxury holiday homes is a neighborhood called Ganim Beit, an elevated sloping area of land facing the sea, on the road to Taba.

Various development companies have built or are building exclusive luxury dwellings in this area, with most of them facing the sea.

The Abgad development company has built a closed estate called Aquarel. It has three-story buildings with ground-floor garden apartments, first-floor terraced apartment and penthouses. They are being sold for $350,000 to $1.8m.

Ofer Glazer, a local businessman, has two projects. One of them is called Shahmon. It has two-story buildings with ground-floor garden apartments and penthouses. Each dwelling has its own private swimming pool. The second project is called Hills. It has sloping pyramid-style five-floor buildings. Each apartment has its own large terrace and a private swimming pool. The apartments in Glazer’s projects cost $450,000 to $1.2m.

Another addition to the Ganim Beit galaxy of spectacular apartments is called Atlantis. It has 14 three-story buildings with two apartments in each. The lower apartment is on the ground floor and half of the first floor. The upper apartment is on the other half of the first floor and the top floor.

Ya’acov Atrakhi, general manager of Aura-Israel Investment Company, which is building the project, said his company was playing it safe; the prices are been quoted in euros. The apartments cost €600,000 to €700,000, he said.

Atrakhi believes there are buyers for such expensive holiday homes.

“Before we started this project, we analyzed the market very carefully,” he said. “For the past 10 years, overseas buyers have been acquiring holiday homes in Eilat and they have been paying top prices. At first it was the French who were the main buyers, but now it is the Americans and British.”

If you are interested in buying an apartment or villa in Eilat, send an e-mail to lyle@buypropertyinisrael.com describing your requirements and I will put you in touch with an Agent who can assist you.

Thinking about buying an apartment or villa in Israel or even a commercial property?  We have relationships with Real Estate Agents throughout Israel whether it’s in Jerusalem, Tel Aviv, Netanya, Raanana, Herzliya Pituach, Zichron Yaacov or many other places.  We can put you in touch with someone who can assist you with all your real estate related questions and help get you acquainted with properties that are available in your price range. 

If you are thinking of spending Passover in Israel, this would be a good time to get introduced to a Real Estate Agent who specializes in the city or neighborhood you are considering.

Send an e-mail to lyle@buypropertyinisrael.com and get the ball rolling!

There will be water themed rides and attractions, amphitheaters, night clubs, museums, a convention center, restaurants, boutiques along a two kilometer street, a water park, and of course a new Olympic-size 18-hole golf course designed by Robert Trent Jones II.

These are the plans now on the table for a new $300 million entertainment center called Aquaria Entertainment City that could completely transform Israel’s Red Sea city of Eilat. With approval expected in the coming year, the developers of this new initiative, Aquaria, are keen to break ground on this ambitious Disneyland-style project.

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