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Jerusalem Mayor asks foreigners to rent out their apartments

One of Jerusalem Mayor, Nir Barkat’s pet peeves is the “ghost town” syndrome that has been created in some of the city’s neighborhoods by foreigners buying up luxury apartments and leaving them empty for most of the year.

In parallel, there is a housing crisis in Jerusalem where it is very difficult and very expensive for young couples and students to find any affordable housing. Our son and daughter-in-law just moved into a teeny rental apartment in Nachlaot (Near Jaffa and King George) and it’s pretty expensive.

Here’s an article from Arutz 7 detailing the mayor’s appeal below ….
(full article

I really don’t think this is realisitic. Are people with million dollar apartments going to rent them out to students for $500 per month?

At least the mayor’s heart is in the right place. In the meantime if you know of someone with an apartment to rent out, please let us know. Alternatively, if you want to buy a million dollar apartment in order to rent it out for $500 per month, let us know and we’ll find one for you!

Here’s a sample.. of an apartment available in Baka:

  • 260sqm of penthouse duplex, 5 bedrooms, price: $2,210,000
  • Would you rent this to a student for $500 per month?

    Would you rent this to a student for $500 per month?

    Jerusalem Mayor: Foreign Resident, Please Rent Your Apartment

    by Malkah Fleisher
    Follow Israel news on Twitter and Facebook.

    ( Mayor of Jerusalem Nir Barkat has requested foreign residents who have purchased apartments in the city’s capital to rent them out to young families and students during the months in which they are not living in them themselves.

    In a recent letter sent to foreign owners of Jerusalem apartments, Barkat stressed the tremendous contribution the addition of their apartments to the real estate market would be to the Jerusalem economy and to the matrix of city life. Doing so would bring profit to all those involved, he explained: to the foreign residents, the young people, and the city of Jerusalem.

    In addition, the mayor invited foreign residents to a special public discussion on helping find solutions to housing problems in the city, and called on them to join the Jerusalem apartment rental project.

    In the letter, Barkat said that he honored the addressees’ decision to bind their lives to Israel’s capital. He expressed hope that cooperation between foreign residents, students and the municipality will bring to fruition the vision which appears in the book of Zechariah: “Old men and women shall yet sit in the streets of Jerusalem, each man with a staff in his hand for sheer age. And the streets of the city will be filled with boys and girls playing in her streets.”

    As part of the effort to find solutions to the problem of housing for young people, the municipality decided that starting in the year 2010, a special body will be placed in charge of planning for construction and marketing of practical housing options throughout the city.

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