Mortgages for Foreign Residents
Demand by foreign residents for Israeli real estate has been rising for several years. These foreign residents come mainly from America (not only North America but also Central and South America) and Europe (particularly France and England).
The reasons for the rising demand are different and many. Among these are the increasing anti-Semitism around the world, crises in real estate markets and the general economy in many countries, various tax exemptions and discounts available in Israel, the weakening of the Dollar compared to the Euro, etc.
The geographical areas where such purchases take place are constantly expanding. Jerusalem, Netanya, Ra’anana, Ashdod, Herzlia Pituah, Modi’in, Eilat, Ashkelon, Tel Aviv, Keisaria – the demand covers nearly all of Israel. Some of these foreign residents are actually Israeli citizens, and others plan to immigrate to Israel in the future.
In order to purchase real estate in Israel, many of them require funding through mortgages. They face only one barrier: their lack of familiarity with the Israeli mortgage system (banks and insurance companies) – economically, bureaucratically and mentally.
In order to facilitate the process and make it as smooth as possible, the answer is to seek thorough “preventive” financial / funding advice. Such advice would consist of fast, effective professional service, and include full support throughout the various stages of the process, from submitting the loan application to actually being provided with the funds.