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Israel home price increases — 3rd highest in the world

According to a recent article in Arutz7, Israeli homes continue to prove be one of the best investments around as the growth in home prices is the third highest in the world.

The rise in prices in the fourth quarter of 2010 was 16.2 percent, according to the Global Property Guide. Riga and Singapore were the only locations with a higher increase.

Despite fears of a bubble, the price of homes is likely to continue to rise, according to the Bank of Israel. “There is a significant probability that housing prices will continue their rapid rate of increase in the coming year,” central bank officials recently stated during a discussion on interest rate levels.

Major factors in the rise in prices is the lack of land, most of which is owned by the government, immigration, and foreign buyers who view apartments and houses in Israel as a good investment as well as a future retirement home

Read the full article here.

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