Welcome to Israel

Shalom!

Israel, "The Land of Milk and Honey," was founded in 1948 as a parliamentary democracy and is a fully developed western society-an island of democracy in the region. Located on the eastern seaboard of the Mediterranean, Israel enjoys a varied climate and has a wide range of landscapes-from the Galilee Hills and Lake Kinneret in the north, the densely populated coastal plain (the Sh'fela) around Tel Aviv, the hill region around Jerusalem, the rich agricultural region along the Jordan valley, to the Negev and Red Sea port of Eliat in the south. The main urban centers are Jerusalem (the capital), Tel Aviv (the business center), and Haifa (the sea port). Throughout its history, Israel has continually integrated into its society waves of immigration and has developed a modern infrastructure and an advanced economy, with a developing export-oriented high-tech industry.

Real Estate in Israel

The real estate market is limited by the size of the country and is exposed to the waves of demand that rise with the increase in population, caused primarily by immigration. As a result, prices are continually pushed upward, though a strong recession and price freeze over the past two years have caused prices to fall a bit. A process of liberalization in the real estate market, to be completed in May, 1998 on the occasion of Israel's 50th anniversary, will open the market to foreigners and enable Israelis to privately own real estate outside the country.

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