Israeli Families Explore Dubai Real Estate Amid Rising Prices
Translated & summarized from Kikar HaShabbat by baba
Hundreds of Israeli families, particularly from the Haredi community, are increasingly investing in Dubai real estate by leveraging equity from their Israeli homes. Prices for two-bedroom apartments in Dubai have risen by nearly 12% in the past year, now starting around 950,000 shekels. New projects are targeting younger professionals, and the market is becoming more accessible to a broader range of Israeli investors.
The story in 5 lines · by baba
- Hundreds of Israeli Haredi families are exploring Dubai real estate investments.
- Two-bedroom apartments in Dubai now cost around 950,000 shekels, up nearly 12% in a year.
- Investors can leverage equity from Israeli homes to purchase Dubai property.
- New projects like KORE in Dubailand target young professionals with lifestyle amenities.
- The Dubai property market is becoming accessible to a wider range of Israeli investors.
The Dubai real estate market is attracting a growing number of Israeli investors, including hundreds of Haredi families, who are exploring property purchases in the emirate. This trend is fueled by the possibility of leveraging existing home equity in Israel to finance new acquisitions abroad, without requiring substantial liquid capital. "Hundreds of families from the Haredi public are beginning to examine whether the property they already own in Israel can become a key to an additional property overseas," the report states.
Prices for two-bedroom apartments in Dubai have seen a significant increase over the past year. According to Clarity data, these units, which were available for around 850,000 shekels a year ago, now start at approximately 950,000 shekels, marking a nearly 12% rise. In prime areas like Marina, two-bedroom apartments are approaching the million-shekel mark, while development zones offer more affordable options.
New projects are also emerging to cater to different demographics. The KORE project by Imtiaz, located in Dubailand, targets a younger, professional audience with a focus on a sporty lifestyle, aiming to attract tenants and generate higher rental income. Studio apartments are also drawing interest, with prices starting around 700,000 shekels and some projects showing substantial value appreciation.
Experts suggest that the increasing interest from the Haredi community reflects a broader shift in the Israeli investment landscape, where individuals are looking beyond traditional domestic options. The report notes that while future price movements are uncertain, Dubai's property market is no longer exclusive to large investors, with a wider range of Israelis now considering overseas real estate opportunities.
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