Sotheby’s International Realty now in Israel

The expansion of the Sotheby’s International Realty global network continues with the recent signing of a master-franchise agreement for Israel.

The owners of Israel Sotheby’s International Realty are Tomer and Isidora Fridman and Orna Gotslak, who already have an office in Tel Aviv and plan to open a second outlet in that city later this year, followed by additional offices in key markets across Israel over the next few years.

The expansion was prompted, says Michael R Good, CEO of Sotheby’s International Realty Affiliates, by Israel’s increasing status as a Middle East destination and as a top performing real estate market.

“Tel Aviv is the financial capital of Israel and a major performing arts and business center with the second-largest economy in the Middle East,” notes franchisee Tomer Fridman. “And with its close proximity to Europe, it has also become a very popular destination for second-home ownership.

“The country offers numerous ultra-exclusive residential projects by legendary architects including Richard Meier, and brands such as the Residences at the Ritz-Carlton, which is currently opening its first property in Israel.

“There is also huge demand for high-end projects from local investors and a strong need for a luxury real estate brokerage company such as Sotheby’s International Realty to be represented here. Indeed we believe it will soon become a force to be reckoned with in Israel’s real estate arena.”

Jason Rohde, CEO of Sotheby’s International Realty clients in SA, says the new agreement also holds advantages for the international company’s local clients. “There are quite a number of SA investors keen to purchase property in Israel, and we frequently receive enquiries from Israelis who would like to own property in SA. Having a Sotheby’s International Office in Tel Aviv means we will now have a direct connection to the property market in Israel and be able to facilitate these transactions much more easily.

“This is important because the intricacies of buying and selling property in Israel are not the same as in SA and one needs to be able to access local expertise.”  

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