“The Center of Kabbalah”
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Otherwise referred to as “Safed”, It is a rich blend of ancient beauty and current-day holiday destination. Safed is a small town located in northern Israel in the Upper Galilee dense pine forests overlooking the Galilean Sea and Tiberias. It commands magnificent scenes and sights north to Lebanon and The Hermon, south to Tiberias, east to the Golan, and west to Mt. Meron & the Amud Valley. It is a rich blend of ancient beauty and current-day holiday destination. It has a small population of 27,000 residents.
Culture, History, and Business
The city is also referred to as the holy city, Safed is among the four holy cities in Israel. For years, the old city of Safed was conquered and reconquered – always changing hands.
In recent years, Safed has seen a boom in the tourism industry as Israel emerges from an economic crisis. Also, the city has benefited from the increase in net trading and economic positions, as well as the highly improved job market. The favorable economy started after the government changed its policy on numerous sectors, including economy and real estate. The policy transformation brought about a boost in production as well as exports. Foreign investments are also another major contributor.
Real Estate Appeal
Statistics show that Safed is beginning to witness a real estate boom. The recent growth in the city’s tech and manufacturing industries, coupled with the rise in public spending and tourism, points out the reason for the growth in the city’s property price. In the city center, the average property price is at $6,214.51 per square meter, but it is still more affordable than Tel Aviv and Jerusalem. It is expected that property prices in Safed will increase by about 30% in years to come.
A significant benefit for foreign investors is that they require less documentation to buy properties in the country. Real estate demand from foreign investors keeps rising, thereby increasing property prices. It is anticipated that the trend will remain like this for an extended period. For every investor, this is the best time to buy property in Safed.
As we mentioned earlier, Safed has something for everyone. So, if you wish to make a secure property investment, this is the right destination for you. Follow our next articles to find out more about the reasons to invest in Safed and the top neighborhoods to invest in.
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