Israel Real Estate Market is the World’s 3rd Hottest According to CNBC & Knight Frank

According to Knight Frank and CNBC Israel’s real estate market ranks third in the world in regards to growth over the past 5 years, topping hot property markets like Singapore and Thailand, though behind both Hong Kong and China. Having seen the market rise 54.5% over the past 5 years, the reports also note the past year’s 1% drop in prices, due to the moves by the Israeli government and the social protests of Summer 2011. Overall, however, the market seems to be coming back to life, with hints that prices may even continue to rise, with issued mortgages rising by 14% and interest rates falling .75% in March 2012.