Remember when American Jews viewed an apartment in Jerusalem as a cheap investment? New figures underscore just how much times have changed. While the property market in America is still sluggish, Israel had the third-fastest-growing prices in the world last year, Global Property Guide reports.
Israeli house pricess rose on average by 16.23% last year, or if you take inflation in to account, 13.43%. Either way, Israel comes in after Latvia, where the previously-fragile market made an unbelievable recovery, and Singapore.