The new real estate map of Israel is changing. The real estate market is responding to price increases by heading out to peripheral areas, some of which have never been at the top of real estate activity in the country.
According to a study by The Marker, Ashkelon, Beit Shemesh, Chadera, Rechovot and Yavneh lead Israel’s real estate activity. The study was based on a questionnaire among the heads of major real- estate companies in Israel, reviewing construction permits and analyzing housing markets in the various cities.
Beit Shemesh had the highest growth rate of any city in Israel. During the past 20 years the city has grown 500 percent and now has 100,000 residents. In another ten years the city plans to more than double itself again based on new construction, reaching the 200,000 mark. Currently some 30,000 new residential units are in various stages of planning and marketing in Ramat Beit Shemesh Gimmel, Dalet and Heh, as well as private land, all of which will accommodate 200,000 new residents in the city – not including the natural growth rate in neighborhoods that already exist.