Jonathan, 36, wanted to continue building his financial future through real estate, but realized that purchasing a second apartment in Israel would require significant capital and a major financial commitment. His search for an alternative led him to Greece, where he found a combination that suited him: the property price, the return on investment, the destination’s growth potential, and professional support that allows him to move forward even from a distance.
The Search for an Alternative to a Second Apartment in Israel
For Yonatan, the starting point was familiar to many Israeli investors: the desire to purchase an additional property despite high entry prices and a long-term financial commitment. He was looking for a different way to invest the capital he had accumulated in real estate, without taking on a deal that didn’t align with his capabilities and goals.
The investment in Greece gave him the opportunity to evaluate a property within a different budget and in a market with different characteristics. Instead of focusing solely on how much the apartment cost, Yonatan examined the value you get for the price, the investment environment, and the ability to manage the process efficiently from Israel.
A personal acquaintance that led to a business meeting
The connection between Yonatan and Palmo began with an earlier acquaintance with Aviv, one of the company’s owners and Palmo’s vice president, dating back to their military service. This acquaintance established an initial level of trust, but the decision to move forward was made after a meeting in which Yonatan was presented with the projects, the structure of the deals, and the rationale behind the company’s real estate investment activities in Greece.
During the meeting, it was important to Yonatan to understand how the plan would move from the presentation to implementation. He wanted to work with a company that was already familiar with the local environment, managed the local process, and knew how to coordinate property identification, acquisition, construction, and the subsequent stages.
The considerations that led to the choice of Greece
Several factors came together in Jonathan’s decision. The first was the ratio between the property’s price and the value he would receive in return. The opportunity to purchase a property of the size and specifications that suited him, at a price that was more affordable for him, made the deal worthwhile.
Another consideration was the destination’s growth potential. Yonatan was looking for a market that benefits from tourist traffic, economic activity, and peak seasons that are gradually expanding throughout the year. In addition, the cost structure and tax implications of the investment were also part of the financial picture he evaluated.
The decision was not based on a single factor. What convinced Yonatan was the combination of price, property, location, and a comprehensive execution plan that makes it possible to turn the plan into a tangible investment.
The Importance of Hands-On Experience
When investing in a project in another country, distance makes a company’s ability to execute particularly crucial. For Yonatan, it wasn’t enough to see an attractive plan on paper. He wanted to know that there was a team behind it that was familiar with the work in Greece and could actually move the project forward.
Palmo’s experience in developing and overseeing projects gave him the confidence to move forward. Instead of managing suppliers, professionals, and local processes himself, he was provided with a single point of contact that coordinated the various stages for him.
Tracking Progress from Israel as Well
One of the most significant aspects of Yonatan’s experience was the series of updates he received throughout the project. Every month or two, he received a detailed update via email that allowed him to understand what progress had been made and what was happening at the property.
The updates created a seamless transition from the moment of purchase to the completion of the project. Even when he wasn't physically in Greece, Yonatan remained connected to the process and was able to track the progress of the work clearly and conveniently.
For him, this transparency was an integral part of the service. It allowed him to know that the project was moving forward and that someone was there to support him even after the contract was signed.
From an Investment Experience to a Recommendation for a Friend
The confidence that Yonatan felt throughout the process wasn't limited to the personal level. He recommended Palmo to a close friend, who also chose to join and purchase a property.
A recommendation like this reflects the combination of professionalism, communication, and personal connection. Yonatan wasn’t just looking for a real estate deal; he was seeking a structured way to invest in Greece. The experience he had throughout the process made him feel comfortable recommending this opportunity to those close to him as well.
What can we learn from Yonatan's investment story?
Jonathan’s story illustrates that a second apartment in Israel isn’t the only option for those who want to continue building their real estate portfolio. Exploring other markets can open up various possibilities in terms of budget, property type, and investment structure.
His decision was based on a combination of affordability and the ability to manage the project remotely. Price was important, but the quality of the building envelope, the contractor’s experience, and regular updates also contributed to his sense of confidence.
For young investors, this could be a way to rethink how to invest their existing capital in real estate, without automatically defaulting to the path of purchasing another apartment in Israel.
Questions and Answers
Why was Yonatan looking for a real estate investment outside of Israel?
Buying a second apartment in Israel required capital and a commitment that didn't fit into his plans. He looked for an alternative that would allow him to invest in real estate in a different way.
What attracted Yonatan to investing in Greece?
He was drawn to the balance between the property's price and its value, the destination's development potential, and the ability to move forward with the support of a professional team operating on the ground.
How did Yonatan monitor the project from Israel?
He received regular updates by email every month or two, which allowed him to stay involved and track progress.
Why did Yonatan choose Palmo?
The combination of personal connections, professional experience, the ability to get things done, and effective communication throughout the process gave him the confidence to move forward.
Looking for an alternative to buying another apartment in Israel?
Jonathan’s story began with a simple question: How could he invest his existing capital in real estate without committing to a deal in Israel that wasn’t right for him? Exploring the options in Greece led him down a path that fit his budget, his goals, and the way he wanted to manage the investment.
Learn about Palmo’s projects in Greece and read about how to analyze an overseas real estate transaction.
