Yad2 Expands Real Estate Platform to International Markets
Translated & summarized from Ynet by baba
Israeli real estate platform Yad2 is expanding into international markets, starting with Cyprus, to offer overseas investment properties to Israelis. The new platform aims to simplify the process by providing centralized information in Hebrew and featuring properties under one million shekels.
The story in 5 lines · by baba
- Yad2 launches international real estate platform for Israelis.
- Cyprus is the first market, with Greece and Portugal to follow.
- Properties will be available for under one million shekels.
- The platform addresses complexities of foreign property purchases.
- It aims to provide reliable information and trusted developers.
Yad2, a prominent Israeli real estate platform, is launching a new international division to offer overseas properties to Israeli investors. The initiative marks the company's first foray into foreign real estate markets, beginning with a pilot program in Cyprus.
The new platform will feature investment properties, including options priced under one million shekels, with plans to expand to Greece and Portugal in the future. Cyprus was chosen as the initial destination due to its proximity to Israel and the existing interest from Israeli buyers in its property market. The platform will showcase projects from developers like Israel's Shabiro and Cyprus's Zavos Group.
Yad2's expansion follows research into the needs and challenges faced by Israelis purchasing property abroad. The study revealed that beyond accessible pricing and rental income potential, buyers seek vacation homes, future residency options, or a "haven" outside Israel. However, purchasing property internationally involves complexities such as language barriers, varying tax laws, construction regulations, and remote property management.
The new platform aims to centralize information on international properties, providing details in Hebrew on locations, prices, and associated costs. It will allow users to search, filter, and compare different offerings, addressing the need for reliable information and trusted developers. Yad2 plans to incorporate content on financing, taxation, and the purchasing process, along with information on relevant professionals.
Nir Bar Sadeh, CEO of Yad2's New Apartments division, stated that the move is a natural progression for the company, aiming to provide Israelis with investment opportunities abroad that meet familiar standards. He emphasized the selection of projects suitable for Israeli buyers, including those under one million shekels, and indicated further expansion plans.
