On Wednesday, August 28, the ZOA House in Tel Aviv hosted an international conference organized by Real Estate Media in partnership with Leumi Mortgages. The event focused on Israel’s preparedness to handle a significant influx of Jewish immigrants amid rising global antisemitism and ongoing regional conflicts. Real estate commentator and editor Ofer Petersburg moderated the event.
Anticipating a Major Shift
The conference opened with a reception before diving into the main discussion. CPA Uri Yunisi, Head of the Mortgage Division at Bank Leumi, provided a detailed overview of Israel’s real estate and mortgage market. Yunisi highlighted the current challenges, including ongoing conflicts and economic issues, while stressing the imminent wave of immigration. “We are starting to see the impact as entire communities express interest in moving to Israel,” Yunisi said. “We need to prepare for this significant change.”
Encouraging Immigration Amid Challenges
Raul Srugo, President of the Association of Contractors and Builders in Israel, spoke about the construction industry’s readiness. He noted that while some challenges are apparent, the government should offer more incentives to encourage Jewish immigration. Srugo suggested reducing purchase taxes for foreign investors to make the process more appealing.
Government Support for New Immigrants
During the conference, Ofer Petersburg interviewed Immigration and Absorption Minister Ofir Sofer and Yaakov Hagoel, Chairman of the World Zionist Organization. Sofer discussed various government initiatives designed to assist new immigrants, including rental assistance and tax benefits for property purchases. “We are working to reduce bureaucracy and make the process smoother for immigrants,” Sofer explained.
Hagoel addressed the global situation, noting the rise in antisemitism and its impact on Jewish communities abroad. He emphasized the importance of providing support and encouragement for those looking to move to Israel, despite current travel warnings.
Panel Discussions on Real Estate and Immigration
The first panel, moderated by Moshe Feldmar of Bank Leumi, featured industry leaders discussing strategies to accommodate new immigrants. Ran Avidan of Azorim and Eliyahu Kleinman of Sparta Group emphasized the importance of tailored approaches to meet the needs of foreign buyers. They highlighted the necessity of providing clear information and support to ease the relocation process.
Shmuel Levy from Ambassador Group observed two key trends: a rise in foreign residents and a significant number of returning Israelis. He noted that many families are choosing to live in close-knit communities.
Building and Strengthening the Absorption Process
The second panel, led by Oren Cohen, CEO of Oren Cohen Group, focused on the broader challenges and solutions for integrating new immigrants. Chaim Broida, Mayor of Ra’anana, discussed local efforts to accommodate new residents, including Hebrew language programs. Ronit Almog from Bank Leumi revealed upcoming initiatives to support immigrants through multilingual resources and personalized banking services.
Micha Klein from Africa Israel Residences introduced a flexible property solution for foreign buyers, allowing them to choose different locations within Israel if needed. Shay Falber from the Jewish Agency highlighted the need to address the specific challenges faced by young families and financially vulnerable immigrants.
Shlomo Elmaleh from Eshel Finances concluded the panel by addressing misconceptions about the financial status of immigrants and calling for more diverse mortgage options to support their needs.
Conclusion
The conference underscored the collective efforts needed to prepare for and support the anticipated increase in Jewish immigration to Israel. With ongoing challenges and opportunities, both the government and private sectors are working together to ensure a smooth transition for new immigrants.