Forecasts of a large wave of immigration from France pushing up Israeli apartment prices might be materializing. Data published yesterday by the Ministry of Finance showed a sharp rise in home purchases by investors in January and cited Netanya as a city where many French Jews are buying homes, in the wake of January's terror attacks in Paris.
Adv. Elior Asherian, a partner in the Rothschild Lev Asherian Law Firm, is familiar with the foreign residents flocking to buy Israeli real estate and knows exactly what they are looking for.
Asherian, who is well acquainted with the Netanya market, and has undertaken conveyancing over the years for many French Jews buying property in the city, talks of a dramatic change following the terrorist attack on a kosher supermarket in Paris.
He said, "Following the escalation in the security situation in France, many French Jews who bought apartments in Israel as a vacation home are now seriously considering immigrating to Israel. As a result they are even selling their businesses in France and coming here with a lot of money. I personally represent clients who are businesspeople - one has a supermarket chain, another is a work contractor and so on. There are people who have shut down their business in France and come to Israel. They are buying apartments for investment and renting them out, or homes in need of renovation, improving them and then selling, thus making a relatively quick profit.
Asherian added, "We've recently notice additional investments following the terror attacks in Paris. They've begun buying businesses here. The day after the terror attack we began getting calls from French Jews that wanted to buy businesses here." [...]
There are many French Jews in Netanya. In my opinion more than 1,000 French Jews have come to Israel since the Paris attacks. French Jews themselves are talking about another 5,000-6,000 French Jews preparing to immigrate to Israel. More.
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