Israelis buy homes near Rabbi Nachman's Ukraine grave

400 Israelis have bought apartments in Uman for $6 million altogether.

Israelis have bought apartments in Uman, Ukraine, where Rabbi Nachman of Breslav is buried. Thousands of Israelis, mostly haredim (ultra-orthodox), visit the gravesite every year. Most visits take place around Rosh Hashana (Jewish New Year’s), the memorial day for the rabbi. 17,000 Israelis visited the site in 2004, and almost 20,000 are expected this year.

A new phenomenon has developed in the past couple of years: Israelis have been buying apartments in Uman, as places to stay. A study by McCann Erickson Israel’s haredi department found that Israelis have bought 400 apartments in Uman in the past two years. Apartment prices range from $5,000 for a one-and-a-half-room apartment to $50,000 for a luxury four-room apartment. Altogether, Israelis have spent $6 million on apartments in the town.

The survey also found that prices for luxury apartments in Uman were $3,000-5,000 until five or six years ago.

Published by Globes [online], Israel business news - - on October 16, 2005

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