Anglo-Saxon Herzliya Pituach Presents: A Summation Of The Year In Real Estate

2012 continued the quiet trend that has typified the preceding years.

While the residential market recovered, and there was even an increase in demand, the luxury residential market remains with stable prices and the number of transactions did not grow from the previous year.

Eitan Bloomberg, CEO of Anglo-Saxon Herzliya Pituach: “This year as well, most of the transactions were done by Israelis.  In Europe, the news is not encouraging.  Spain, Greece, Italy and England had a particularly hard year, and as a result, this year too was typified by fewer European investors.  On the other hand, the number of purchases by Americans increased.  We assume that the reason for the growth among American investors is the change in the laws at the end of the year in the US.”

Foreign investors, upon whom most of the luxury market is based, are faced with attractive investment options following the fall in global real estate prices, while in contrast, “there are no steals” in Israel and there is no change in price.

Operation Pillar of Defense and the elections that are underway certainly did not contribute to stability, and 2013 is starting with uncertainty.

How do you sum up the quantity of deals signed during 2012 compared with 2011?

Bloomberg: “The data continue to be the same.  There is a decline of about 10% in the number of transactions compared to last year.  80% of customers who actually closed deals were Israelis, compared with 50% Israeli customers before the crisis period in 2008.”

Nechama Oron, part of the Anglo-Saxon team in Herzliya Pituach for the past 17 years, has been an expert for years in the luxury residential field, and manages the rural communities division in the company:  “This year, the trend continued from the previous year.  This year as well, most of the purchasers were Israelis.  Demand for homesteads and houses with lots slowed compared to 2011.  On the other hand, prices remained stable.  There is still demand for a good property in a good location at a high level.”

Susan Nissim, a staff member of Anglo-Saxon in Herzliya Pituach for the past 20 years, manages the diplomatic and foreign companies division.  She says: “The number of rental transactions is the same as last year.  The budgets set in the field of diplomatic residences were less flexible and more stringent than in previous years.  The same is true of the budgets of foreign companies.  They acted out of a strategy that budgets must not be exceeded.”

Gadi Bloomberg, manager of the Herzliya B area at Anglo-Saxon: “This year was characterized by broad supply as a result of a high number of new homes being built in the area, many of which are nearing completion.  The growth in supply and flexibility of prices contributed to closing a variety of deals this year.”

Luxury residences in 2013 are expected to continue the existing situation.  This year as well, property owners who are interested in selling will need to be flexible on price.

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