If there is a perfect time for a perfect home in Israel and you have the money, it could be time to consider buying a villa in Ramot. Here is why.
Until recently, the people who bought homes in Israel, who weren’t making Aliyah, bought only in prime locations in the center of Jerusalem. That makes perfect sense, since they were primarily buying vacation apartments for themselves and for their family and friends to use.
They would travel to Israel to enjoy the atmosphere and the pulse of the Jewish capital city and all its rich color, diversity and vibrancy. Additionally during the times the apartment stood vacant, they could also make some money using their apartment as a short term rental property, which had an eager market if it was in the right location.
The buyers for Jerusalem vacation apartments were primarily on the higher end of the socio-economic bracket. The price of an apartment in the center of town is astronomical per square foot, and like Manhattan, the price allowed most buyers to purchase an apartment that was not suitable for long term living, rather just for quick visits a la a hotel.
But now the buyers market has changed. From what we’ve seen and heard phone call after phone call, the number one consideration nowadays for buying an apartment in Israel is to have a safety net in Israel, just in case…
It is for this reason that apartment sales in neighborhoods a bit further out from the usually requested Mamilla, Rechavia and Nachlaot, are where most of the action is today. These areas are more affordable than the trophy locations.
However, even there, the problem of space still is an issue. So if you step down a rung on the ladder and go to a place like Ramat Eshkol, which is highly sought after due to its proximity to the center of town and walking distance from the Old City, the possibility for a large apartment is very limited and still way over budget for most people.
Most of the comfortable buyers today are buying apartments in new developments in the burgeoning city of Beit Shemesh. In Beit Shemesh their budget will allow them a new apartment with a reasonable amount of space.
But for those with a larger budget there is a perfect solution, a villa in Ramot. While buying an apartment has not been on most American’s radar screen (although it’s not a very well kept secret, and Americans have been buying there for years) it may be time to make a move before it is too late.
Let’s start with the fact that Ramot is in Yerushalayim and not further from the center of town than Bayit V’gan, for example. Fact number two, Ramot has totally changed in the past fifteen years. While it was once a sleepy outpost of both religious and non-religious areas, today there are no more non-religious areas in Ramot. There are all kinds of religious areas of different stripes and styles. Thirdly Ramot has a thriving mall which allows you to stay in Ramot and not have to shlep to “town” for most things.
Lastly and here is the key, Ramot has more villas than any other neighborhood that you would consider. Best of all they are relatively affordable. Prices of villas range from less than $2 million to around $4 million for your top pick. They have around 2,000 square feet and up. They can have modest pools and nice outdoor areas with gorgeous views. What more can you ask for?
So for those coming and planning on one day living in their apartment, a Ramot villa is probably the only viable option in Yerushalayim. The neighborhood is very livable and has everything ordinary life needs, like school, shuls, shopping and more. There are no ghost apartments and it has the feel of an authentic neighborhood.
These villas are going fast to those who are smart enough and quick enough to take advantage. Ramot is the last frontier in Jerusalem proper so there won’t be any more opportunities. Just remember that like everything in Jerusalem, today’s best bargains are gone by tomorrow. These villas in Ramot will be scooped up at prices that will make you kick yourself for the rest of your life!
If you are interested in buying a Villa in Ramot
contact Tzvi @
US Tel. 516-690-6106
Whatsapp: +972-54-840-6454
Email: bohomeisrael@gmail.com
