Israel is a small country, but has 273 kilometers of coastline. That’s great for real estate where beachfront properties command high premiums over other similar properties situated nearby. Beachfront property however is no longer realistic for most people, especially given that hotels generally have the deep pockets and the need to go after these properties.
Aside from the Mediterranean, and the Kinneret, Israel does not have many other bodies of water. So how are you going to give people who crave water and the peace of mind it brings, the waterfront view that they so desperately want and are willing to pay for?
Leave it to Israeli creativity and ingenuity. In Israel when you don’t have something you make it! Recently from Be’er Sheva to Hadera through Netanya, Ashkelon and even in the Negev city of Dimona, lakefront neighborhoods have been popping up out of literally nowhere. Municipalities have taken little ponds, ocean inlets and other water runoffs and created small artificial lakes to boost property prices and create comforting settings for young families.
These urban oases are called by the skeptics, “a marketing gimmick”. On that score, so is a nice lobby and big bedrooms. If artificial lakes give people the quality of living they want, they are worth the cost. Apartments in these neighborhoods are more desirable and costly than other neighborhoods. Furthermore, apartments facing the lake can sell for a 10-20% premium over identical apartments on the wrong side of the building.
Home is supposed to be a fortress of security and a bastion of tranquility. If calm waters and flocks of birds can do this for us, let’s hope this trend continues. Maybe Israelis will become less temperamental and more relaxed people and then we can truly call Israel the “Land of Peace.”