Expensive Real Estate in Israel for the few

Where will you find expensive real estate in Israel? Generally speaking, Real estate in Israel is expensive, but if you're interested in discovering high end, ultra-affluent Israeli neighborhoods dotted with luxury villas, Herzliya Pituach, Arsuf, Savyon, Afeka and Kfar Shmaryahu top the list of where to find the most expensive real estate in the Israel. Caesarea is also to considered to be quite exclusive, impressive, unique and of course, expensive luxury homes.

Ten years ago, buying an expensive apartment in Jerusalem or a luxury villa in Herzeliya Pituach for a few million was the ultimate demonstration of prestige. Ultra-affluent home hunters, be they from Israel or from the diaspora, have always had the means to collect expensive Israeli real estate, however, in today's world, one can expect to pay a much higher price for the location and size of the land, let alone the house itself. Statistically, the high-end real estate market in Israel has flourished beyond expectation over the past few years. Property value has doubled and tripled at an astonishing rate since the late 90's.

2008 prices for a luxury villa in Herzliya Pituach (west of Galei Tchelet Street), on a small 1/3 acre lot start at $15 million. Fabulous luxury villas in Herzliya Pituach's western edge on Yanait Street, Baruch Kamin Rd., Havatzelet Hasharon Street and Hamaapilim Street generally start at $5 million but the cost can soar sky high (depending on the size of the lot, the condition of the home and of course 'location, location, location'.

For those that are accustomed to an opulent lifestyle where money is no object, a spectacular villa in Arsuf, perched atop a magnificently regal cliff overlooking the Mediterranean, on 1/2 acre starts at $9 million. Affluent home buyers that crave all the trappings of a luxurious "country side" mansion complete with sprawling landscapes can find refuge along the quiet streets of Savyon. There is an abundance of equally expensive real estate in Savyon, however, the size of the lots are much bigger and therefore, so are the homes. In Savyon, a gorgeous luxury villa sitting on a 1, 2 or 3 acre lot starts at only $5 million.

Diaspora Jews that wish to buy a second home in Israel are also opting for expensive real estate in other central locations. Not to say that they cannot afford a luxury home in Herzliya Pituach, Kfar Shmaryahu or Tzhala, but there just aren't enough luxury homes on the market these days. The shortage in truly exquisite luxury homes has prompted Diaspora Jews to seek out high-end Real Estate projects in cities along the coast, such as Ashdod and Netanya and other expensive real estate developments in Central Tel Aviv, North Tel Baruch and the Sharon region. These areas may not compare in grandeur or prestige, however, European and American diaspora Jews have discovered that when their luxury apartment or house is no longer a viable home-for-now, they can profit tremendously by converting it into a rental property.

The waiting list for luxury apartments in Central and North Tel Aviv is quite long, however, with the right connections, affluent home hunters usually get to dip their finger in the honey pot before anybody else, making their investment in luxury real estate particularly sweet.