Coverage is from the Mizrahi-Tefahot Real Estate Conference on financial opportunities for foreign residents and olim that was held in collaboration with The Jerusalem Post.
Shevy Shemer, executive vice president and head of Mizrahi-Tefahot’s Bank Retail Division, welcomed a capacity crowd of 500 financial experts, public figures, and entrepreneurs to the annual real estate conference of Mizrahi-Tefahot Bank on business and financial opportunities for foreign residents and new olim that was held at the Sera Event Hall in the Elah Valley.
Reviewing the disappointing economic data for 2024, which included a GDP growth of 0.7%, interest rates of 4.5%, and inflation of 3.2%, Shemer forecasted an increase in GDP growth by the third quarter to 4%, interest rates between 4% and 4.25%, and inflation of 2.6%. She cautioned that external events such as war and political issues may lead to unpredictable financial results.
Housing starts and completions declined in 2024, but she predicted a modest increase in these numbers in 2025, to 60,000 housing starts and 55,000 housing completions. Shemer shared that housing prices increased by 7.7% percent in 2024 due to the economic recovery since the beginning of the war.
She noted that housing price trends depend on several factors, including a decline in new housing starts, population growth and immigration, security concerns and rising raw material costs, labor shortages in construction, and macroeconomic conditions.
Shemer concluded her remarks by noting that the bank is fully prepared to handle an increase in aliyah, with 34 branches throughout the country providing multilingual support and assistance for olim.
Coverage is from the Mizrahi-Tefahot Real Estate Conference on financial opportunities for foreign residents and olim that was held in collaboration with The Jerusalem Post.