(Courtesy of Ramat Gan Zeev) The upscale Ramat Givat Zeev project, located just outside Jerusalem, continues to spur record-breaking sales from buyers, many of them new and future immigrants from metro New York-New Jersey and beyond.
A buyers’ group consisting of several dozen families emanating from Teaneck, New Jersey, actually created a spike in the value of each apartment by nearly $50,000, even before they will have taken possession of the keys to their new homes, which are currently under construction.
The rising value of these properties can be traced directly to the fact that only 50 apartments within the 350-unit complex remain to be sold.
The overwhelming interest from American buyers stems from the fact that Ramat Givat Zeev has promoted itself as a project that is being erected with high-end standards, mimicking the lifestyle that its buyers have been used to in the USA. It will accentuate the discerning religious and cultural quality-of-life quotients found in places such as Teaneck, Five Towns, Brooklyn and Queens, New York. Ramat Givat Zeev will feature synagogues, mikvaot and quality schools, as well as a country club with a pool and gym, tennis and basketball courts, green parks and a shopping center.
Yisrael Hayom, Israel’s largest daily newspaper, recently dubbed Ramat Givat Zeev as Jerusalem’s “Caesarea” (a ritzy town near Central Israel), as well as a “once in a generation” neighborhood.
Because of the project’s unique locale, Israeli real estate experts believe that once the first residents of Ramat Givat Zeev move into their homes within the next 18 months, prices for the properties will actually double in price.
The next Ramat Givat Zeev sales event will take place on Sunday, September 10, from 11 a.m. until 8 p.m. at Congregation Keter Torah, 600 Roemer Ave. in Teaneck, New Jersey.