Luxury Homes & Investment In IsraeL

Luxury Homes & Investment In IsraeLA special issue of The New York Jewish Week, North Jersey Jewish Standard and the New Jersey Jewish News

Bat Yam: The New Israeli Riviera

page 4

Israel’sLuxeBoom

page 14

Is Israel The Promised Land For Investors?

page 6

Bat Yam: The New Israeli Riviera

page 4

Israel’s Luxe Boom

page 14

Is Israel The Promised Land For Investors?

page 6

SummeR 2014

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Bat Yam: The New Israeli RivieraB y B a i l e y a d a m s

as real estate prices in Tel Aviv have rocketed over the last decade, Israelis and foreign investors have started to look for a cheaper piece of the Mediterranean coastline — and found that they don’t need to look far.

The city of Bat Yam, just a few minutes south of Tel Aviv, used to be famous for drugs, crime, and filth. “The image was a very bad im-age, of a city with low-cost apartments and no construction,” admits Nati Lerner, a senior official at the city hall. “The strong population ran away.”

But after a decade-long rejuvenation project, Bat Yam is welcom-ing and clean, and home to restaurants, cafes, and a growing cultural scene. There is Design Terminal, a hub for designers from different disciplines, the Notzar Theater, which moved to Bat Yam from Jaffa, and an annual street theater festival. The Riviera Gallery is the first gallery in Israel to be located on the beach. In the summer, there are regular sports sessions on the beach, all of them free of charge, including volleyball and yoga.

Adi Assif, partner at Gutman Assif Architects, which is redevelop-ing some of the city’s residential and business areas, commented: “A big change happened in the last five to ten years, and Bat Yam is not the same city that it was. Now, the infrastructure, public places, and services are all very much improved.”

Instead of dealing with emigration, Bat Yam is now drawing im-migrants from the West — evident from the sound of French as you walk around — as well as overseas buyers looking for second homes and investment opportunities. The number of homes will grow by 10 percent in the next five years, and the new buildings are expected to be sold quickly.

Beaches are clean, relaxed and generally quieter than those in Tel Aviv. The tourism industry in the city is so confident that visitors will like today’s Bat Yam that it is in the process of increasing the number of hotel rooms by 200 percent. There are currently just 500 rooms, and by the end of 2017 there will be 1,500.

One of the big factors in Bat Yam’s favor is its transportation links. In 2011, two train stations opened in Bat Yam, providing fast connections to the Negev Desert in the south, the Galilee in the north, and Israel’s big towns and cities in between including Tel Aviv, Her-zliya, and Haifa.

A tram system is expected to connect Bat Yam to Tel Aviv by 2022. Until then, a high-speed bus service using special lanes will offer Bat Yam to Tel Aviv service in just 12 minutes. All if this means that while Bat Yam has the quiet and the modest prices that Tel Aviv doesn’t, it is quick and easy to get to the big city.

“We don’t need to be the new Tel Aviv,” said Lerner. “Rather, we can give a high quality of life at half the price, close to Tel Aviv.”

One of the most ambitious developments in Bat Yam is the Sea Hotel, which has special appeal to non-Israelis who are looking for a holiday home and investment property rolled in to one.

Sea Hotel will open in 2017 with 200 regular rooms and 200 rooms

An artist’s rendering of theterraced-shaped Sea Hotel on the Mediterranean in Bat Yam.

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designated for people who want to buy them and have them rented out for six months of the year or more. These rooms are fully furnished and ser-viced, but can be customized to buyers’ require-ments, so they can feel at home during the time they stay there. Management will guarantee a set income to the owner of each room, and will take all the responsibility for renting it.

The renowned Israeli firm Feigin Architects planned the building, and a large international firm, Hirsch Bedner Associates, was chosen to design the interiors. The hotel will be 26 floors high and include a large conference center, a pool, spa, gym, and restaurant.

Ilan Sasson, CEO of the project, has no doubt that it will compete with Tel Aviv. He com-mented: “Israel has a very limited beach stretch and as time goes on, less and less vacant real estate, so people will focus on new areas.”

As far as investment value is concerned, there may have been an interesting hint as to what may be in store for Bat Yam in February — it was one of just six areas in Israel that saw prices rise for homes of all sizes compared to the previous month. Sasson has high expecta-tions. “You get very good value for your money in Bat Yam compared to Tel Aviv. We expect prices to rise dramatically in the next three to five years, so as an investment it’s a great op-portunity,” he said. ◆ Atrium at the Sea Hotel.

Guest room at the Sea Hotel.

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Is Israel The Promised Land For Investors?B y B a i l e y a d a m s

When the U.S. was reeling from the housing crash of the last decade, in Israel, the housing market started to boom.

The average Israeli property price rose by 22 percent in 2009 and 17 percent the following year, and while there have been warnings of a bubble dynamic, pessimistic predictions remain unfulfilled.

In 2011, the insurance giant ILD predicted with confidence that home prices would drop 15 percent by 2013. Instead, prices stayed around the same in 2011, then rose by almost 6 percent in 2012, and made a similar jump in 2013.

While this scenario of continuous home price increases has been problematic for some young Israelis looking to get on the housing ladder, it is widely seen as beneficial to people interested in pur-chasing property with strong investment value.

The typical foreign buyer is a Diaspora Jew interested in making a connection to Israel by purchasing a holiday home or a home for retirement. This matches the investment-seeker as described above, which is characterized by purchases for capital gains rather than for profits from rental income.

Of course, buyers can’t go enter a deal with the expectation of a guarantee of the same rises seen over the last five years. “Property prices are not going to double again, of that I’m pretty confident,” said Jerusalem-based financial advisor Aaron Katsman, author of Retirement GPS, a book about wealth planning for old age.

Nevertheless, there are several reasons to believe that for long-term property investment, Israel can be an excellent choice.

Land is scarce and released for building slowly, tending to keep the supply low and prices high. Thus, although demand is currently high, all indications are that prices will continue to rise as supply becomes more and more scarce.

Israel’s population is growing far faster than the typical Western country. Last year, the U.S. population grew by the same increment it has since the Great Depression — just 0.71 percent. In Israel, by contrast,

The crane is often referred to as Israel’s national bird.

Intel’s headquarters in Kiryat Gat.

Images are for illustrative purposes onlyImages are for illustrative purposes onlyImages are for illustrative purposes only

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In 2011, the insurance giant ILD predicted with confidence that home prices would drop 15 percent by 2013. Instead, prices stayed around the same in 2011, then rose by almost 6 percent in 2012, and made a similar jump in 2013.

While this scenario of continuous home price increases has been problematic for some young Israelis looking to get on the housing ladder, it is widely seen as beneficial to people interested in pur-chasing property with strong investment value.

The typical foreign buyer is a Diaspora Jew interested in making a connection to Israel by purchasing a holiday home or a home for retirement. This matches the investment-seeker as described above, which is characterized by purchases for capital gains rather than for profits from rental income.

Of course, buyers can’t go enter a deal with the expectation of a guarantee of the same rises seen over the last five years. “Property prices are not going to double again, of that I’m pretty confident,” said Jerusalem-based financial advisor Aaron Katsman, author of Retirement GPS, a book about wealth planning for old age.

Nevertheless, there are several reasons to believe that for long-term property investment, Israel can be an excellent choice.

Land is scarce and released for building slowly, tending to keep the supply low and prices high. Thus, although demand is currently high, all indications are that prices will continue to rise as supply becomes more and more scarce.

Israel’s population is growing far faster than the typical Western country. Last year, the U.S. population grew by the same increment it has since the Great Depression — just 0.71 percent. In Israel, by contrast,

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high birth rates and continuing immigration mean that the population is expected to rise from today’s 8 million to at least 10 million by 2030.

“Because of the lack of space, the population growing, and desirability [of Israel] there’s a very good chance that in the long term properties will keep their value or grow in value,” commented Baruch Labinsky, author of A Financial Guide to Aliyah and Life in Israel and the founder of Labinsky Financial.

For Americans, the prospect of buying in any foreign market can seem intimidating, especially in a market where housing prices have become a political issue. The Israeli government is working on initiatives to reign in housing prices for the benefit of first-time buyers. What could this mean for foreign buyers who want to see the value of their investment continue to rise?

The government initiatives are expected to be limited in reach — a partial speeding up of the release of land for development, rather than a huge increase in supply. The initiatives will be fo-cussed in specific parts of the country, leaving many other areas — especially prime areas for foreign buyers — with little change in the supply-demand balance. And, the focus will be primarily on increasing supply of modest homes, as opposed to the type of properties that most buyers with an investment focus desire.

One of the government moves to make housing more affordable could actually push up prices, according to Bank of Israel governor

Karnit Flug. She made this claim in response to a Finance Ministry plan to exempt first time buyers from the 18 percent value added tax. “The fact there will be those entitled to the benefit. . . may increase demand for housing in the short run and without sufficient supply, that will lead to higher prices,” she said at a press conference.

Experts also say that government efforts will not lead to de-creased prices. “No program is going to be enough to bring down prices,” said Katsman. Housing analyst Danny Ben-Shahar, an academic from the Technion Israel Institute of Technology, com-mented: “If you ask me about the long run, while I hate to be a prophet, I don’t see prices going down unless some major step is taken on the supply side.”

Ben-Shahar, while stressing that there is “much uncertainty” regarding the near future, said that Israel’s conservative financial system acts as a safety mechanism against major shocks to house prices. “In that respect I can’t see anything similar to what hap-pened in 2007 in the US happening here,” he said. Katsman is more cautious, and thinks that buyers should keep in mind that any loss is possible at any time.

Labinsky said that buying in Israel to flip a property after a year or two isn’t recommended, but for those who are in for the long haul “Israel could be a very good place to have money in a property.” ◆

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Considering Israeli Real Estate? Read This Before You Buy

B y B a i l e y a d a m s

say the phrase “home in Israel,” and it conjures up different images for different people. For some, the dream is an apartment for the chagim in Jerusalem, walking distance to the Old City; for others it is a Galilee getaway or a beachside escape by the Mediter-

ranean for when the American winter sets in. The process of getting from these images to bricks and mortar can

be very exciting. But how do you make sure that your dream doesn’t get lost in translation?

The most important rule is to become location-savvy. Once you decide on the city or town where you want to buy, you then need to get specific and find out about the neighborhoods.

Israeli locales are full of sometimes-subtle distinctions that are easy for a newcomer to miss. A cluster of a few streets may be full of young families, while across an invisible and undeclared border is an area dominated by retirees. The housing development on one side of a main road may be predominantly secular, while the other side is mostly religious.

This isn’t to say that territorialism reigns in Israeli towns and cit-ies. There are many neighborhoods that are diverse in all respects, and even in more homogenous ones, nobody is kept out. If you want to be the neighborhood elder among young families, or a secular presence among the Orthodox, you will probably be welcomed. However, it is best for this to be a conscious move, rather than the result of a misunderstanding of the local dynamics. Don’t rely on what the realtor tells you about neighborhoods — talk to locals first and work out the locations that suit you.

In the same vein, many Diaspora Jews look for second homes close to their children and grandchildren who have made aliyah. But before au-tomatically taking the “security blanket” route and buying a few streets

Above: Nighttime in Yenim Moshe, an old neighborhood in Jerusalem that overlooks the Old City.Below: A fisherman on Sea of Galilee near Tiberius.I srael MInIstry of tourIsM www.goIsrael.coM

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Considering Israeli Real Estate? Read This Before You Buy

ranean for when the American winter sets in. The process of getting from these images to bricks and mortar can

be very exciting. But how do you make sure that your dream doesn’t get lost in translation?

The most important rule is to become location-savvy. Once you decide on the city or town where you want to buy, you then need to get specific and find out about the neighborhoods.

Israeli locales are full of sometimes-subtle distinctions that are easy for a newcomer to miss. A cluster of a few streets may be full of young families, while across an invisible and undeclared border is an area dominated by retirees. The housing development on one side of a main road may be predominantly secular, while the other side is mostly religious.

This isn’t to say that territorialism reigns in Israeli towns and cit-ies. There are many neighborhoods that are diverse in all respects, and even in more homogenous ones, nobody is kept out. If you want to be the neighborhood elder among young families, or a secular presence among the Orthodox, you will probably be welcomed. However, it is best for this to be a conscious move, rather than the result of a misunderstanding of the local dynamics. Don’t rely on what the realtor tells you about neighborhoods — talk to locals first and work out the locations that suit you.

In the same vein, many Diaspora Jews look for second homes close to their children and grandchildren who have made aliyah. But before au-tomatically taking the “security blanket” route and buying a few streets

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away from them, find out about the local community. Is there a neigh-borhood where older English-speakers tend to be concentrated, where it will be easier to make friends your own age? A few extra minutes from the family won’t stop them from visiting you, but it could make all the difference in terms of your social life.

Beyond the character of the neighborhoods, pay special atten-tion to the physical surroundings. You go house shopping in the winter, and the street you are considering is a small hill. Will the hill still seem small in the blazing sun during the Israeli summer, when every walk seems three times as long and every hill seems four times as steep? Or, you view properties in the summer, and fall in love with a development with a beautiful garden and a shared pool. But is the area well maintained in the winter or does it become a depressing eyesore as some Israeli pools do from October through May?

When viewing homes in Israel, use your imagi-nation. Internal building work is cheap, and strip-ping a place out to make the inside exactly how you want it may be much easier and less expensive than you think.

Many buyers have been promised that they will forever have a sea view or mountain view and then had it snatched away as a building is erected in front of them. Have your lawyer check the munici-pal plans regarding nearby building rights.

One of the most delightful aspects of acquir-ing a home in Israel can be the experience of planting and maintaining a garden. It really is the “Promised Land” when it comes to garden-ing, with plants and trees growing at a staggering speed. You can spend lots of time in your garden, so it is important to focus some of your attention on the garden, not just on the house.

Jump in to the Israeli mindset when looking at the outdoor space, regarding which hours you will use it — probably morning and afternoon, avoiding the hottest part of the day. Check where the sun is at the various points in the day, even if it requires several visits to the property, to see if the garden will suit your plans. Look carefully for shade. And find out from neighbors which direction the breezes come from and whether the garden catches them. All of this may sound overly technical, but it’s important for properly enjoying a garden in the scorching Levant.

After the fun of choosing your home and plan-ning your garden comes the nitty-gritty of nego-tiating a contract and completing all necessary paperwork.

Closing deals can be a new experience for non-Israelis: just like in the market, almost everything is negotiable. This is especially important if you are buying off plan. If you want an extra air condi-tioning unit or different windows, negotiate.

Another challenge can be understanding the world of Israeli realtors. The seller and the buyer both a pay the broker fees, normally around 2 per-cent each. The exact percentage is often nego-tiable. When you draw up the contract with the seller, if payments are staged, think carefully about

what currency arrangement works best for you; consider a contract that is tied to the value of the dollar.

Get local advice on technical matters. There are many things that Israel does differently than other countries. For example, observant Jews in the Diaspora will often fit time-switches on their lights for the Sabbath. In Israel, unless the electrics have been specially prepared, people can end up with their refrigerators and other appliances switching off along with the time-controlled lights, as a single circuit will control lights and power sockets.

There is a lot to think about, and the considerations can seem dizzying. But attention to detail is often the difference between an anonymous holiday apartment which is used for a few years and then sold for something better, and a place that has a real feel of home, where you will want to spend every possible moment for years to come. ◆

Taking time to relax in the Old City.I srael MInIstry of tourIsM www.goIsrael.coM

For more information contact, Berggruen Residential

+972-3-5100827 office@berggruen.co.il

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Israel’s Luxe BoomB y B a i l e y a d a m s

The luxury sector in Israel is burgeoning, with top-rung hotels and plush housing developments opening in quick succession.

Some carry international brands. In the last six months, Ritz-Carlton and Waldorf Astoria opened their first hotels in Israel, in Herzliya and Jerusalem, respectively. Both were built alongside private residences that reflect the quality of the hotels.

Now, another American hospitality brand, W Hotels, is on its way, with a hotel-and-residences pairing due to open in just over a year in Jaffa, the oldest part of the Tel Aviv-Jaffa municipal area. The New York-based real-estate tycoon behind the W brand, Aby Rosen, said: “I chose the Old City of Jaffa to be the first location for the W Residences in Israel because of its richness in history and exclusiveness of the area. The location, together with the W Hotels’ expertise in luxury lifestyle, brings a unique opportunity to investors who want the authentic Israeli experience in a beauti-ful contemporary design, and who want to have the international service that can complement their busy lifestyles.”

The apartments at The Residences at W Tel Aviv-Jaffa will feature hand-finished hardwood floors, marble stonework, and kitchens designed by John Pawson. There will be a separate entrance, closed to guests of the attached hotel, to guarantee privacy. Views from the hotel include the side streets of the Jaffa

artists’ colony and the sea.As well as American luxury brands, European companies are

becoming more interested in Israel. Kempinski, widely considered Europe’s finest hotel chain, is opening in Tel Aviv in 2017, and it will also have residences. This hotel-apartment combination appeals to today’s frequent U.S.-Israel flyer, according to Eyal Hartogs of Holland Real Estate, exclusive agent for the David Promenade Residences. “People who want a house for their holi-days want their own private place but none of the responsibility for cleaning and maintenance,” he said.

As vacant plots with sea views become harder to find, the archi-tectural trend on the Israeli coastline is to do everything to place the focus on the ocean. Windows are the new walls, with designers trying to use as few closed walls as possible and instead building with floor-to-ceiling windows. The David Promenade Residences project embraces this trend, and also makes the most of the sea view by giving all apartments large balconies.

Homeowners will be able to order room service, chambermaids and cleaners and maintenance service — all received with the same speed and efficiency as for hotel guests, thanks to a service tunnel connecting the two buildings. Laundry and dry cleaning will be picked up from apartments and delivered back, and there will be full concierge service.

But isn’t there a downside of living in a hotel complex, with the constant arrivals and departures? No, because the hotel and the Da-vid Promenade Residences will be in separate buildings. Walkways ensure fast access to the hotel, but the fact that only residents can

Jaffa Port.I srael MInIstry of tourIsM www.goIsrael.coM

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artists’ colony and the sea.As well as American luxury brands, European companies are

becoming more interested in Israel. Kempinski, widely considered Europe’s finest hotel chain, is opening in Tel Aviv in 2017, and it will also have residences. This hotel-apartment combination appeals to today’s frequent U.S.-Israel flyer, according to Eyal Hartogs of Holland Real Estate, exclusive agent for the David Promenade Residences. “People who want a house for their holi-days want their own private place but none of the responsibility for cleaning and maintenance,” he said.

As vacant plots with sea views become harder to find, the archi-tectural trend on the Israeli coastline is to do everything to place the focus on the ocean. Windows are the new walls, with designers trying to use as few closed walls as possible and instead building with floor-to-ceiling windows. The David Promenade Residences project embraces this trend, and also makes the most of the sea view by giving all apartments large balconies.

Homeowners will be able to order room service, chambermaids and cleaners and maintenance service — all received with the same speed and efficiency as for hotel guests, thanks to a service tunnel connecting the two buildings. Laundry and dry cleaning will be picked up from apartments and delivered back, and there will be full concierge service.

But isn’t there a downside of living in a hotel complex, with the constant arrivals and departures? No, because the hotel and the Da-vid Promenade Residences will be in separate buildings. Walkways ensure fast access to the hotel, but the fact that only residents can

use them guarantees their privacy. They will also have their own swimming pool, gym and sauna — as well as access to the Kem-pinski health club. “There will be all the advantages of the hotel without any of the disadvantages,” said Hartogs.

Luxury projects are clamoring for big-name architects with bold design ideas. Kempinski and the David Promenade Residences are being built according to plans by Feigin Architects, the firm respon-sible for the David InterContinental hotel in Tel Aviv, the Waldorf Astoria in Jerusalem, and the King David Tower in Tel Aviv.

Meanwhile, at another Tel Aviv construction site, work is based on the design of the Pritzker Prize-winning architect Richard Meier. New York-based Meier is famous for his fixation with white, which makes him a natural fit for the so-called White City, Tel Aviv. Meier-on-Rothschild will be his imprint on the city in the form of 141 units boasting high ceilings and exquisite views.

Each 8,450-square-foot floor can be a single residence or di-vided into two or four units, and will feature 540 square feet of out-door terraces. There will be a luxurious spa, top of the line fitness centre, relaxation lounge, treatment room, a 25-meter (27-yard) swimming pool, a Jacuzzi, and a wine cellar with a private tasting bar for residents and guests.

Despite the high-end amenities that the development offers, sales director Lee Ziv said that one of the biggest attractions is its

artistic value as a Meier creation. “Just as people buy beautiful art, they want to own and live in a Richard Meier home,” she com-mented. “It’s not just a building — in other projects you can change things but Meier has very specific instructions.”

Meier-on-Rothschild is a joint venture between Berggruen Development, the U.S.-based private investment firm headed by Nicolas Berggruen, and Israeli real estate company, the Hagag-Cohen Group. They conceived Meier-on-Rothschild as “a building of world-class caliber that would push the envelope regarding the current local construction and design standards in Israel.”

Daring design also guides the W development in Jaffa. Two his-toric buildings form part of the development — the former School of the Sisterhood of St. Joseph and 19th-century French Hospital. British architect John Pawson, working with the Israeli firm Ramy Gill, is complementing key features such as the sun-bathed chapel, vaulted ceilings, stained-glass windows and hidden inner courtyard with contemporary components.

Rosen expects the luxury market in Israel to continue to grow. He commented: “Today, we see a growing need for more up-market serviced apartments in Israel, particularly because of overseas in-vestors. Many are seeking a second home in Israel as the influx of tourism, migration and lucrative business prospects gets stronger here, year by year.” ◆

A couple stroll through Jaffa. I srael MInIstry of tourIsM www.goIsrael.coM

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How Modi’in Became A Magnet For Anglo Olim

B y K e n S t e p h e n S

nestled between Jerusalem and Tel Aviv, the city of Modi’in has become one of the most attractive cities in Israel for both highly educated, working-class Israelis and new immigrant families from English-speaking countries. This “city in the country” is home to 86,000 residents and boasts a top-tier educational system, a variety of cultural and religious attractions, as well as a beautiful central city park which leads to a nature trail that provides visitors with a fascinating link to Jewish history dating back to the Maccabees and Bar Kochba. As a matter of historical reference, Modi’in is the birthplace of the Chanukah story.

With enough land reserves to erect a city the size of Tel Aviv, the mayor of Modi’in, Chaim Bibas, 45, is in the midst of finalizing a series of new building plans to significantly boost the city’s popula-tion in the coming years. These plans will also create a “midtown” cultural and residential hub reminiscent of areas in such major cit-ies as New York City’s midtown Manhattan.

In a recent interview, Mayor Bibas spoke about the growing number of Anglos in Modi’in as well as the city’s future.

Why do you think so many Anglos have chosen to live in Modi’in?Mayor Bibas: During the many meetings I have had with Eng-

lish speakers during tours I have guided of the city, its environs,

and educational institutions, it has become clear that Modi’in is very attractive to Anglos for the very same reasons that the city was built. When the late Prime Minister Yitzhak Rabin laid the city’s foundation stone in 1993, the goal was to establish a city attractive to young couples and families, midway between Jerusalem and Tel Aviv. This vision was fulfilled in a short period of time. In recent years, we have also witnessed an exciting phenomenon, as parents of the young families have also moved here to be near their children and grandchildren.

Another factor is education. Today, there are 37 schools, includ-ing a diverse range of religious schools. Many schools offer majors in communication, art and dance, technology, sciences including bio-technology, physics, and biology, as well as electronics, engi-neering sciences, and architecture. The municipality’s investment in advanced technologies and building smart classrooms in schools is evident in all educational indicators and surveys. Modi’in is near the top of national educational indexes, with more than 80 percent of students passing the matriculation exams.

The Anglo population is also attracted to the quality of the city’s residents. Modi’in boasts a Grade 8 socio-economic index status (out of 10). Sixty-five percent of city residents possess an academic degree. Our youngsters are the city’s source of greatest pride. They are leaders in the field of volunteerism. This is reflected even after they finish their studies and join the army. Modi’in- Maccabim-Reut was ranked first nationwide for the highest percentage of army enlistment for the fourth consecutive year.

These and other factors are affecting positive migration to the

Modi’in Mayor Chaim Bibas.

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and educational institutions, it has become clear that Modi’in is very attractive to Anglos for the very same reasons that the city was built. When the late Prime Minister Yitzhak Rabin laid the city’s foundation stone in 1993, the goal was to establish a city attractive to young couples and families, midway between Jerusalem and Tel Aviv. This vision was fulfilled in a short period of time. In recent years, we have also witnessed an exciting phenomenon, as parents of the young families have also moved here to be near their children and grandchildren.

Another factor is education. Today, there are 37 schools, includ-ing a diverse range of religious schools. Many schools offer majors in communication, art and dance, technology, sciences including bio-technology, physics, and biology, as well as electronics, engi-neering sciences, and architecture. The municipality’s investment in advanced technologies and building smart classrooms in schools is evident in all educational indicators and surveys. Modi’in is near the top of national educational indexes, with more than 80 percent of students passing the matriculation exams.

The Anglo population is also attracted to the quality of the city’s residents. Modi’in boasts a Grade 8 socio-economic index status (out of 10). Sixty-five percent of city residents possess an academic degree. Our youngsters are the city’s source of greatest pride. They are leaders in the field of volunteerism. This is reflected even after they finish their studies and join the army. Modi’in- Maccabim-Reut was ranked first nationwide for the highest percentage of army enlistment for the fourth consecutive year.

These and other factors are affecting positive migration to the

city (approximately 3,000 people per year), including hundreds of Jews who come from countries such as England, the United States, and South Africa. As with anything positive, especially among the English-speaking immigrants, referral or word-of-mouth has been a large factor resulting in the growth of the community.

Are you surprised by how many Anglos have moved to Modi’in during the past decade?

When you build something — anything — in a professional manner, there is no reason it will not succeed and this is evident in Modi’in. The transformation of Modi’in, which 20 years ago featured nothing but barren hills, into a modern, contemporary city with over 86,000 residents is an unprecedented achievement in terms of the State of Israel. We have successfully completed many projects, including the development of Einav Center, a shopping mecca for both Modi’in residents and people living in nearby cit-ies. The Technology Park is an ongoing development that is also attracting a variety of investors. It is becoming one of the major industrial and developed areas in the region.

In the center of the city is an urban nature park, Park Anabe, which boasts a 1,000 seat amphitheater for cultural and local events. The park also contains an artificial boating lake of approxi-mately 14,000 square meters, a large adventure park, and trails for walking and biking.

What are your plans to attract even more Anglos to Modi’in during the next five years?

The Modi’in municipality and especially the Absorption De-partment constantly work in conjunction with the Jewish Agency, Ministry of Absorption, and other aliyah organizations promoting the city and our absorption program to potential olim. We partici-pate in many aliyah fairs both in Israel and overseas, including ones in the metro New York region. We host private and group pilot tours, meeting families during their pre-aliyah trips and as-sisting them with planning their first steps. We also participate in webinars and other conference calls with shlichim overseas and potential olim. Through our Facebook group, our olim and poten-tial olim receive constant updates of our programming, as well as news on the municipal programs that are running in the city.

How has the influx of Anglos helped Modi’in’s educational and business communities, as well as its image?

Many olim are bringing their own business ventures from over-seas and running them out of Modi’in, thus offering new olim places of employment. The influx of Anglos into the city has also led to increased real estate values across of Modi’in. Israeli and Anglo entrepreneurs are looking to make Modi’in their home and to run their businesses from here for two key reasons — because of the city’s location and its high quality of life. ◆

Park Anaba the urban nature park in Modi’in. Jorge NovoMiNsky

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Savvy Anglo Buyers Target Netanya, Tel Aviv And Modi’in

B y K e n S t e p h e n S

With over 350,000 English-speaking olim already living in Israel and nearly 3,500 more due to make aliyah during 2014, real estate developers are actively trying to lure American immi-grants and investors to their projects in cities such as Netanya, Tel Aviv and Modi’in, which exemplify Anglo cultural, educational and religious expectations while also providing a superior standard of residential living.

According to the latest statistics, local and foreign investors (including Anglos) have played a vital role in fueling Israel’s highly active property market. The Israeli government’s Association of Real Estate Appraisers reported that prices for homes and apartments in the metro Tel Aviv-Jaffa- Herzliya region, where there is a significant Anglo population, rose nearly 10 percent during the past year alone.

The nationwide survey also claimed that cities such as Netanya, Tel Aviv and Modi’in, as well as Jerusalem and Beit Shemesh, have attracted well over one billion dollars in investments from buyers in the U.S., Canada, UK and France during the past five years.

Netanya’s CoastIt’s no secret that Netanya has become a magnet for a substantial

number of young Anglo families, vacationers and investors who have bought flats in a wide variety of projects that are either adjacent to or in close proximity to the city’s alluring Mediterranean beachfront.

Netanya’s popular mayor, Miriam Feirberg -Ikar, has worked tirelessly to develop the infrastructure in and around the beachfront promenade area in order to lure English-speaking olim, pensioners and vacationers to her city.

“Anglo buyers who come to Netanya are always searching for a project that offers them a high quality of life, close proximity to the sea, laid-back atmosphere and easy access to, business centers, cultural activities and shopping in central Israel, “ claimed one real estate developer.

One of these projects is being constructed by the Yossi Avrahami Civil Engineering Works in the up-and-coming Agamim (Lakes) neighborhood. The Yossi Avrahami B’Agamim complex consists of two towers which overlook the Mediterranean Sea, a nature reserve with a park and a lake.

The project also highlights modern contemporary architectural design accentuated by a fancy lobby, large balconies, attractive gar-dening, posh elevators, gym and residents’ lounge. Buyers can select from an array of impressive flats ranging from garden apartments to breathtaking penthouses. The company also situates their residen-tial dwellings easily accessible to community services, including schools, entertainment, shopping and sports centers, all of which are integral to a high quality of life.

Trendy Tel AvivThe metro Tel Aviv region has begun to attract more and more

young couples and families, who have bought into the “work and play” lifestyle that the area has to offer. Being in close proximity to Tel Aviv and Ramat Gan’s various commercial centers by day

The Tel Aviv skyline, with Meier On Rothschild, one of the city’s newest highrises, center.

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Netanya’s popular mayor, Miriam Feirberg -Ikar, has worked tirelessly to develop the infrastructure in and around the beachfront promenade area in order to lure English-speaking olim, pensioners and vacationers to her city.

“Anglo buyers who come to Netanya are always searching for a project that offers them a high quality of life, close proximity to the sea, laid-back atmosphere and easy access to, business centers, cultural activities and shopping in central Israel, “ claimed one real estate developer.

One of these projects is being constructed by the Yossi Avrahami Civil Engineering Works in the up-and-coming Agamim (Lakes) neighborhood. The Yossi Avrahami B’Agamim complex consists of two towers which overlook the Mediterranean Sea, a nature reserve with a park and a lake.

The project also highlights modern contemporary architectural design accentuated by a fancy lobby, large balconies, attractive gar-dening, posh elevators, gym and residents’ lounge. Buyers can select from an array of impressive flats ranging from garden apartments to breathtaking penthouses. The company also situates their residen-tial dwellings easily accessible to community services, including schools, entertainment, shopping and sports centers, all of which are integral to a high quality of life.

Trendy Tel AvivThe metro Tel Aviv region has begun to attract more and more

young couples and families, who have bought into the “work and play” lifestyle that the area has to offer. Being in close proximity to Tel Aviv and Ramat Gan’s various commercial centers by day

and the region’s myriad of cultural attractions and seaside activities including the beachfront promenade and the Port of Tel Aviv in the evening, has thus provided developers with a unique opportunity to attract high-end Anglo buyers.

According to the Nefesh B’Nefesh aliyah organization, between 2009 and 2013 more than 2,000 new immigrants from North America and the UK moved to the metro Tel Aviv area. At least 400 more are due to make the move during 2014.

During the past five years savvy real estate developers have built a number of upscale residential living complexes in Jaffa, Neve Tze-dek (South Tel Aviv), North Tel Aviv and along the beachfront, which have targeted foreign investors, vacationers and new immigrants. The marketing success of these projects and the release of other high-end parcels of land stretching from the lucrative beachfront, along posh Rothschild Boulevard (which has been favorably compared to Manhattan’s Fifth Avenue), to center city (near the bustling Azrieli Mall and rail hub) and ritzy North Tel Aviv, has spurred a construc-tion boom, with a growing number of builders actively looking to lure wealthy buyers, investors and vacationers from the USA.

Matthew Bortnick, a well-known real estate broker in metro Tel Aviv revealed, “It makes no difference whether they are buyers, investors, olim or vacationers looking for apartments — everyone is asking for high-quality apartments and homes. Israeli standards for the most part have not yet reached Western building standards, but some builders in Tel Aviv have identified this wealthy market and have started to erect quality projects. They realize that the foreign buyers are not only demanding it [quality], they are also willing to pay for it. Now they understand that Americans for example are used to these standards, because that’s where they are coming from.”

Yigal Zemach, the CEO of Beggruen Residential Ltd., which is putting the finishing touches on its spectacular 42-storey “Meier-on-Rothschild” tower in the heart of Tel Aviv, concurred. “Anglo buyers

do their homework. They are extremely diligent in searching for top quality in the Tel Aviv marketplace and are concerned about dealing with the Israeli mentality,” said Zemach. “Buyers are looking for Manhattan-style quality because that is what they are accustomed to and what they would actually pay for if they moved into a new apartment in Manhattan. Upscale Anglos are not interested in lame excuses when it comes to construction, design or location. In this respect, Tel Aviv has much to offer because many people compare the city to Manhattan because it is the hub of business and culture. Tel Aviv has the best museums, coffee bars and restaurants.”

Zemach also claimed that even though his luxurious Meier-on-Rothschild project is considered to be the crème de la crème of elite properties, prices for an apartment are still cheaper than what one would pay in Manhattan or even Toronto.

Zemach, who lived for a number of years in Manhattan, added, “These days real estate prices in Manhattan run anywhere from $3,000 to $8,000 per square foot, while in Tel Aviv, we are seeing prices between $1,500 and $3,000 per square foot, less than half what one would pay in Manhattan. And the prices per square foot in Montreal, London and Vancouver are just as expensive as New York City.”

Yossi Avrahami Civil Engineering Works is currently marketing two posh projects in the Tel Aviv-Ramat Gan region.

During the past few years, the company has garnered kudos from architects and buyers alike for it’s outstanding Ne’eman Towers resi-dential complex in North Tel Aviv. The unique towers were designed by world renowned kinetic artist Yaacov Agam. The seventh and final building in the project is now being completed and marketed to potential Anglo buyers.

“We know from personal experiences with our Anglo buyers what they are looking for in terms of top standards based on physical comforts as well as the personal and psychological attachment to their commu-nity,” said Yossi Avrahami, the owner and chairman of the company.

Netanya Beach.

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“Therefore, it is important for us to provide all of their needs from A to Z on a personal level. Based on experience, Anglo buyers seek amenities such as access to a pool, sauna and community synagogue, which for many families provides a warm and inviting environment in which to meet and make new friends, as well as celebrate Shabbat and the holidays in style.”

Neeman Towers has been built as a closed complex with a chic and elegant air-conditioned lobby that is manned 24 hours a day, a stylish and attractively lit garden with benches and walking paths, a residents’ lounge and chic elevators, all efficiently run by a profes-sional management company.

Yossi Avrahami’s Ramat Gan project is part of an urban renewal process. The impressive building is located on a quiet street across from the pastoral Napoleon Hill and near the beautiful Yarkon Park. The project is located amidst a green spot in the heart of the metropo-lis that combines easy access to major thoroughfares including Abba Hillel Silver Street in Ramat Gan and the Ayalon Highway, as well as business and entertainment centers including the Diamond Exchange and bustling Ayalon Mall. The meticulous planning emphasizes

comfort and high quality technical and engineering specifications.

Modi’in MiraclesThis “city in the suburbs” is a classic example of how positive feed-

back from an initial group of English-speaking buyers who discovered the newly built city less than a decade ago, created a non-stop real estate market for prospective buyers. Word-of-mouth about Modi’in’s high standard, suburban lifestyle, superior educational centers and easy transportation access to nearby Jerusalem and Tel Aviv attracted large numbers of young Anglo families, and most recently, retirees, who wish to be near their children and grandchildren. Modi’in, the birth-place of the Chanukah story, has been dubbed “the new Ra’anana.” Ra’anana was originally founded by American pioneers from the metro New York region.

Large concentrations of new olim from the metro New York-New Jersey region can be found in the Buchman and Kaiser neighborhoods. The influx of Americans into Modi’in has also benefitted the city’s fledgling Little League baseball program. The Modi’in Miracles play in the Israel Association of Baseball. ◆

Neeman Tower in Tel Aviv.

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The N.Y.-Tel Aviv ‘Shuttle’: Living In Israel, Working In The U.S.

B y K e n S t e p h e n S

Making aliyah to Israel doesn’t necessarily mean giving up your day job in New York. While new immigrants obviously rel-ish the idea of living in the Holy Land, there are a growing number of business professionals who are also willing to endure jet lag in order to continue benefitting from their lucrative jobs in the U.S.

Most of the transatlantic commuters wave goodbye to their families on Saturday or Sunday evenings, as they head to their flights from Ben-Gurion Airport and then flock back to JFK and Newark airports during the mid-day hours on Thursday in order to catch flights that are scheduled to arrive on Friday morning in Israel. An overwhelming majority of these new immigrant com-muters purchased apartments and homes near Ben-Gurion Airport. For residents of metro Modi’in and Tel Aviv, that means only a 15 to 20 minute train ride to the airport or less than an hour by bus or car from Jerusalem, Beit Shemesh and Ra’anana, cities that also feature a significant number of frequent fliers.

“Commuting is becoming more and more common,” said Ra-chel Berger, director of post-aliyah and employment for Nefesh B’Nefesh, which provides support to new immigrants.

“If you have a good job in the U.S. which can be maintained after making aliyah, you can potentially take off some of the fi-nancial pressures of moving to Israel and encountering various expenses. We need to recognize that we live in a global economy, which means that one can commute or telecommute while enjoy-ing the benefits of living and working locally. In essence, you are less limited with your geographic work location today. It’s a good short- or long-term option.”

For Dr. Benjamin Aronoff, who made aliyah from Bergenfield, N.J., nearly three years ago, Modi’in represented the best place for his wife and his kids to put down new roots.

“I commute to Teaneck every two weeks where I work as a nephrologist and doctor at the same practice that I worked in prior to aliyah,” Aronoff said. “I am affiliated with Hackensack Uni-versity Medical Center and Holy Name Medical Center. “We chose Modi’in as we knew other olim there and its location being close to the airport, Jerusalem, and Tel Aviv. We actually moved to Modi’in with two other families from the Teaneck/ Bergenfield

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area. We found a warm and friendly community with many shuls. In Modiin’s Buchman neighborhood, where we live, there is the ‘American shul,’ which features many other olim from America, England, and South Africa. We were able to bond quickly as we went through similar experiences.”

Aronoff added that he has also befriended not only other com-muters from Modiin, but also from Jerusalem, Ra’anana and Beit Shemesh. He added, “Even though we have a direct train to the airport, there are now enough families (with transatlantic commut-ers) that enjoy taking turns in car-pooling to and from the airport.”

Dr. David Schlussel also commutes from Beit Shemesh to the metro New York region every other week to maintain his dental practice. The Schlussel family made aliyah from New Milford, N.J., three-and-a-half years ago.

“He leaves for the U.S. on Saturday evenings after Shabbat, stays until Thursday afternoon and then arrives in Israel early Friday morning,” said his wife, Lisa Schlussel. “The advantage is that we get to live in Israel while my husband maintains his par-nasa [income]. My husband has a successful dental practice and we have five kids. He could not just walk away and start anew. We needed a transition plan and the commuting is the transition plan. He also works in Israel when he is here, and the goal is to eventually move his practice over to Israel.”

She said that after they made aliyah, the “regulars” on New York-bound flights befriended her husband. “There are many commuters,” she added. “My husband definitely has a core [of commuters] that he often sees and who have similar schedules. They helped a lot initially, showing my husband the smoothest way to travel. Now it’s a nice experience for him.”

And then there are the “celebrity commuters.”Philadelphia native Jamie Geller, who rose to prominence as

a senior writer and producer at HBO in New York City and then

reinvented herself as a best-selling Orthodox cookbook author and celebrity chef, made aliyah to Ramat Beit Shemesh nearly three years ago. However, Geller is still very much in demand in the Big Apple and beyond.

American viewers watching NBC’s “Today Show” right be-fore Passover (Friday, April 11) had no idea that Geller, had just arrived from Israel in order to showcase her holiday chicken soup and honey brisket delicacies in NBC’s Midtown studios.

“Yes, I can do a substantial amount of work in my office at home, but I still need to fly to New York and other cities to guest on cooking shows, do my live culinary events and press conferences. While I’m not flying back and forth as often as my cousin, who also lives in Ramat Beit Shemesh and is a high-tech specialist, I’m on the plane at least six or seven times a year,” said Geller. “As for living in Ramat Beit Shemesh, yes, it’s convenient for me airport-wise but my husband and I moved there with the kids because we have relatives who live in Ramat Beit Shemesh as well.”

Lenny Solomon, the well-known Queens-born songwriter and singer who created the Shlock Rock band in 1987, moved to Beit Shemesh with his wife Tamar in 1996. The ongoing popu-larity of Shlock Rock enables Solomon to barnstorm his way throughout the USA (including Hattiesburg, Miss., and Fargo, N.D., earlier this month) at least eight times a year with a stop in his old neighborhood stomping grounds in Kew Gardens to visit family and friends.

“We made aliyah to Beit Shemesh for a very simple reason,” said Solomon. “My wife had friends there. For our kids, it’s a great place to live. And believe me, I see commuters all the time from Beit Shemesh and cities boarding flights for New York. There are regulars whom I see going back and forth all the time.” ◆

Lenny Solomon Jamie Geller Ben Aronoff

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Putting On The Ritz In Herzliya PituachB y K e n S t e p h e n S

In chic Herzliya Pituach, dozens of investors are “putting on the ritz” at the plush Residences at the Ritz-Carlton, which recently opened. According to Miri Azouri, Director of Marketing & Sales for The Residences at The Ritz-Carlton, Herzliya, nearly 75% of the buyers of the plush vacation residences are Anglos from North America and the UK.

“It’s not just a real estate asset. It’s more of an emotional buy in order to strengthen their (investors), bond with Israel as well as having a special place to visit their family and friends. Some of our buyers already have children living in Israel. The vacation apartments allow them to come more frequently and enjoy all of the amenities that a renowned hotel chain such as the Ritz - Carlton has to offer,” said Ms. Azouri.

The Residences at The Ritz-Carlton allows an owner to use his/her residence for up to 6 months during the year and offer it for rent the remainder of the year through the Ritz-Carlton management program, which is one of the world’s leading management companies. The owner can then generate income during the periods that the apartment is placed for rent by receiving a percentage of the nightly rate.

The Residences at The Ritz-Carlton include 82 vacation apart-ments which face the majestic Herzliya Marina and Mediterranean Sea. An array of Residences including luxury studios, one and two

bedroom apartments, duplexes and penthouses are available. Prices for vacation apartments at The Residences at The Ritz-Carlton, Herzliya range from approximately $900,000 to $4,000,000.

The one-bedroom units have an open modern kitchen, breakfast bar, lounge area with sofa bed, guest 1/2 bathroom and separate mas-ter bedroom with spacious bathroom plus terraces with views of the Mediterranean Sea.

The two-bedroom units feature a guest bedroom, master bedroom, two luxury bathrooms, open plan kitchen, lounge area, and terraces. There are also a select number of one- and two bedroom split-level duplexes with a lounge area with double height ceilings, guest bath-room and separate master bedroom and bathroom on the upper level.

For those who wish to maximize their possibilities, the lavish one- and two-bedroom penthouses located on the 12th floor offer a breathtaking living experience .

When buyers at the Residences at The Ritz - Carlton, Herzliya take possession of their residence, they will also be able to revel in all of the amenities that the first-ever Ritz-Carlton Hotel in Israel will have to offer. The list of amenities include: the Ritz-Carlton Spa located on two floors with Turkish hamam, dry and wet saunas, spa lounge and treatment rooms all overlooking the Mediterranean Sea; fully equipped fitness room overlooking the Mediterranean Sea; an outdoor rooftop swimming pool with pool side restaurant; a kosher chef’s restaurant-the first of its kind in the Ritz- Carlton chain; a ballroom for intimate events located in the main lobby, synagogue and business center along with an in house personal Director of Residences (D.O.R). ◆

A suite at The Residences at The Ritz-Carlton, Herzliya.

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