While data suggests a thriving real estate market in Jerusalem, residents describe a reality of two separate markets. On one hand, a luxury market where apartments are quickly snapped up by foreign residents at record prices. On the other, a stagnant market in the rest of the city, partly due to planning issues. A local real estate agent recently assisted an American buyer with a budget of 14 million shekels, hoping to find a home in prestigious neighborhoods like Rehavia or Talbiya. However, available properties were often disappointing, leading the buyer to ultimately choose a home in Caesarea instead of Jerusalem.
