The Globes reports
on Israeli nationals targeting bargains in the US Housing market. With many priced out of the real estate market in the at home, the option to purchase in the US is very attractive:
Levy and other people with whom "Globes" has talked mention double-digit returns on investment. A comparison with the Israeli real estate market is necessary in view of the rise in housing prices in Israel in recent years, and Levy has no doubt which pays better.
"We cannot find such returns in Israel," he says. "In Israel, the ratio between home prices and rental prices is disproportionate. An average three-room apartment in central Israel costs NIS 1 million and the average rent is about NIS 100,000 a year.
Southwest Florida leads the nation in foreclosures and homes are currently available at prices below replacement cost. Fort Myers foreclosures
and Estero foreclosures
are popular with foreign nationals. Many are investing now with plans to rent out the property until retirement.