Location, Location, Tax Breaks

Looking to take advantage of the downturn to make some savvy—and discounted—real-estate investments? Well, the luxury apartment of your dreams could be waiting for you in the Holy Land. A so-called Luxury Real Estate & Investments Exhibition in Tel Aviv last weekend was well attended, according to a report in Globes Online (which, despite sounding like a porn site, isn’t), with Israelis and Diaspora Jews alike taking breaks from the beach to express interest in pieds-à-terres in Jerusalem, Tel Aviv, and other Israeli cities. “Americans and Europeans have calmed down and believe that the situation cannot get any worse,” proclaimed Israeli real-estate marketr Shelly Levine (who, we presume, is a different real-estate marketer than the crooked one in Glengarry Glen Ross). “As far as they’re concerned, over the years, Jerusalem as is a good investment location as New York.” Another real-estate macher, Dalia Schuster, also said that Israelis who’d moved away are returning, thanks to tax incentives. “For a Jew,” she said, “it’s cheaper and easier to live here.”

Diaspora Jews Return to Israeli Real-Estate Market [Globes Online]