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New ultra-Orthodox communities in Village Israel

The rapid demographic expansion of the Ultra-orthodox population has a huge impact on the real-estate market in general in Israel. If you really understand the culture and what lies ahead, you can make a lot of money by anticipating where the population will expand to next. People who invested in the Ramat Eshkol neighborhood BEFORE it turned Chareidi reaped HUGE returns on their investment in the last five years.

Here are some excerpts from a just published article from Haaretz
Full article here

The national planning and building council yesterday approved the establishment of a new city in the northern Negev, Kasif, for the ultra-Orthodox community.

Kasif will cover 1,190 acres and 10,000 homes will be built in the first stage of construction for an expected population of 50,000.

Kasif will help solve the housing shortage in the Haredi community, which still needs another 100,000 housing units.

The project had many opponents…

“I think that [Kasif] may well perpetuate poverty in the ultra-Orthodox sector,” said a senior Housing Ministry official. “They will be stuck in one place and their ability to get into the job market is almost zero. There are enough limitations on the ultra-Orthodox sector, and transferring them to a place like this will make their situation even more difficult.”

The Housing Ministry is already busy working on 10,000 units for Haredim in Harish-Katzir northeast of Hadera, with another large plan for 3,000 apartments in Ahisamakh near Lod. There are plans to sell 2,000 more units to the ultra-Orthodox in Tiberias, and another 2,150 in Beit Shemesh

The Housing Ministry official said the plan for Kasif stemmed from the days of the previous minister, Meir Sheetrit. “What we are doing now is taking the Haredim to a hole and saying this is the solution,” he said.

He added that Harish-Katzir was a much better solution for the ultra-Orthodox because it was near Route 6 and close to job opportunities. He said the ministry would try to stop the building of Kasif, but not the entire regional master plan.

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