Americans Buying in Jerusalem and Beit Shemesh, French in Netanya and Tel Aviv: Israel’s Foreign Buyer Map Uncovered

Americans’ share of foreign home buyers fell to 49% in Q1 2026, down from roughly 60% last year — likely reflecting the weakening dollar — while French and British purchases rose sharply. The median price of an apartment purchased by an American buyer in Jerusalem stands at around NIS 6 million, while the French are buying at more accessible price points. For the first time, the Treasury’s Chief Economist division published a comprehensive analysis of foreign buyer purchases — and the findings are fascinating.

By Nimrod Bossu, Nadlan Center

A comprehensive breakdown of foreign buyer purchase data was published today (Wednesday) for the first time by the Chief Economist division at the Ministry of Finance, as part of its residential real estate sector review for the month of March. According to the data, foreign buyer purchases rose by approximately 18% to 487 transactions in Q1 2026, compared with 413 transactions in Q1 2025.

A breakdown of foreign buyer purchases in Q1 2026 by passport country found that nearly half (49%) of all purchases in this segment were made by Americans — 238 apartments. Despite this high share, it represents a decline compared with Q1 2025 — both in absolute numbers and as a proportion of total foreign buyer purchases. “In Q1 2025, total American purchases stood at 248 apartments, 60% of all foreign buyer purchases,” the report noted.

The review also noted that in March 2026 specifically, “there was actually an increase in American purchases compared with March of last year (84 versus 65 apartments, respectively). Nevertheless, their share of total foreign buyer purchases in March still declined (from 53% to 49%). One possible explanation may lie in the weakening of the dollar against the shekel (a 13.6% drop), which effectively made apartment prices more expensive in dollar terms. It should be noted that over the same period, the euro weakened against the shekel by only 4%.”

While Americans’ share among foreign buyers declined, the French and British shares increased. According to the review, “whereas in Q1 2025 French purchases in Israel totaled 84 apartments, in the equivalent period this year that figure reached 130 apartments. As a result, the French now account for more than a quarter of all foreign buyer purchases (26.7%), compared with only about one-fifth in the same period last year.”

British purchases also rose significantly, from 37 apartments in Q1 of last year to 57 in Q1 2026. Combined, these three nationalities accounted for 87% of all foreign buyer purchases in Q1 2026 — a share similar to the equivalent period last year. Two other notable countries of origin among foreign buyers were Canada, with 16 purchases in Q1 2026, and Australia (10).

The Median Price of Foreign Buyer Purchases in Jerusalem — Above NIS 5 Million

An examination of the geographic preferences of foreign buyers reveals significant variation between nationalities. A breakdown of American purchases in Q1 2026 found that more than half (52.5%) were concentrated in Jerusalem — 125 apartments, compared with 131 purchased there the previous year. Surprisingly, Netanya — not typically considered a classic American buying destination — ranked second in the quarter with 27 apartments purchased by Americans, up from just 12 in Q1 2025. Beit Shemesh ranked third with 24 transactions, though it recorded a sharp drop from the 40 apartments purchased by Americans there in the equivalent quarter last year. Kiryat Gat ranked fourth with 11 transactions, and Tel Aviv came in fifth with just 10.

“An analysis of the findings indicates that foreign buyer purchases in Jerusalem are concentrated at high price levels, with the median price in Q1 of this year standing at NIS 5.1 million. In this context, it should be noted that 60% of the apartments purchased by Americans in Jerusalem in Q1 2026 were new apartments, with a median price of NIS 5.95 million. In the secondary market, this price was also relatively high, standing at NIS 4.2 million. In contrast, in Beit Shemesh the price levels of apartments purchased by Americans suggest they are operating in market segments similar to those typically favored by Israeli buyers in that city.”

The French Discovered Bat Yam

Among foreign buyers holding French passports, a wider geographic distribution was found. The city that led in French purchases in Q1 2026 was Netanya, with 35 apartments. Jerusalem and Tel Aviv followed, with 28 apartments purchased in each. Bat Yam also appeared on the French buyer map with 12 transactions. By contrast, Ashdod — once considered a classically “French” city — recorded just 5 transactions.

According to the Chief Economist’s data, “an analysis of the price levels of apartments purchased by French buyers highlights the fact that, unlike American buyers, the French are focused on more ‘affordable’ apartments, with an average price of just NIS 2.8 million. In Tel Aviv, the median price of apartments purchased by French buyers this year stood at NIS 5 million — also significantly lower than the prices paid by American buyers in that city.”