Well, it is time to take stock of the market here in Caesarea. From the beginning of the year to date we see broad strength as a diverse clientele continue to look for value in the general exclusive market and are turning to Caesarea.

So where are these clients arriving from? They are arriving from four major regions:

1.      From England. Due to the strength of the British property market as well as the British Pound, the relative prices in Israel in General and in particular Caesarea are very attractive.
2.      The United States; we continue to see an influx of American clients. This segment has been and continues to be very active in the purchase of both exclusive Jerusalem properties and the best coastal properties in the market. As an example, TPD Ltd. has sold over 7,000,000 USD in coastal properties in Caesarea alone. This represents nearly a third of this years sales by TPD Ltd.  We know that other brokerages are experiencing similar American interest.
3.      Europe in general and France and the Russian in particular. The majority of French investment in the Israeli Luxury market is due to the rise of Anti-Semitism and uncertainty in France. As a result Israel has become a natural location for a second “security” home. In Russia there are many successful Jewish entrepreneurs who have begun seriously investing in both Israeli luxury residential properties as well as commercial.
4.      The final source of residential investment in Caesarea is coming from the intrinsic Israeli clientele. Particularly Israelis’ who live in Tel-Aviv and Hertzelia and want to move Northward so as to have more land in an area that is more conducive to raising a family with a higher quality of life. This is evidenced by the dramatic rise in land prices in Even Yehuda , Beit Yanai, Benyamina/Carcur and increasingly in Caesarea.

Let me focus for a few more moments on the Caesarea market. If we look at the new golf cluster (neighborhood) #13 the Rothschild Development group marketed 10 additional 1 Dunam (1/4 acre) plots on the first line to Israel’s only 18 hole golf course. All 10 plots sold within 3 days for an average price of 1,000,000 USD.

In addition, the price of land on the water front of the prime older established clusters, 2, 4, 5 and 6 has risen to between 1,700,000 USD- 2,500,000 USD per Dunam of land depending on whether it is zoned 1 or 2 floors. Although the increase in land values in Caesarea is significant one should keep in mind that Caesarea is still 40-60% less expensive than her comparative markets.  In addition there are still many spectacular homes that are available between 750,000-1,500,000 USD.

I hope that this has been helpful. Of course if you would like to speak to me personally it would be my pleasure. We look forward to seeing you soon here in Israel.

Sincerely,

Benjamin J. Rettig