Luxury Real Estate Blog and News
Uri Cohen Architects designed the Hotel Villa in Yessod Hammala, Israel. This is a preservation and an extension of a historic heritage monument on the first street in Yessod Hammala, which was built by the ‘pioneers’ in the late 19th century.
More famous for its war with Palestine than its real estate market, Israel is, however, getting worried about a property bubble and interest rates are set to rise again to cool the sector.
Israel, the best-performing residential property market this year, may lose its standing after becoming one of the first countries to raise interest rates since the global recession began. Although located in one of the world’s most volatile regions, Israel has defied the worldwide real estate slump because of a dearth of land available for development and tax breaks for investors. Prices rose 12.5% in the second quarter from a year earlier, double the increase for Switzerland, the second best performer among countries tracked by London-based property consultants Knight Frank.