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Tax changes for the Israeli real estate market in 2011
Posted on 11. Jan, 2011 by Buy-It In Israel Staff.
Israel is in the process of enacting a number of tax changes for 2011 in an effort to cool down spiraling Israel real estate prices and boost the supply of housing in the country. Some of the tax changes, which have come into effect from January 1 this year, will make it more expensive for investors to buy property in Israel, and others are intended to accelerate the sale of apartments and encourage new construction. Most of the tax changes are still in the process of a legislative procedure but are expected to be applied retroactively from January 1, 2011.
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Government steps in to lower property prices
Posted on 20. Nov, 2010 by Buy-It In Israel Staff.
The government has finally realized its promise to intervene in the overheated Israel real estate market in an effort to boost supply of housing in particular for young couples and families and to bring down inflated property prices.
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Bank of Israel raises cost of large mortgages
Posted on 31. Oct, 2010 by Buy-It In Israel Staff.
The Bank of Israel this week announced new measures to tighten the conditions of mortgages granted at floating interest rates, which will make large loans of more than NIS 800,00 more expensive. The new directives for the banks were formulated to moderate the persistent increase in property prices over the past few years and the growth in housing credit that exceed increases in average household income. Since August last year to this August house prices have risen by an average of 19 percent and interest rates have been at a record low.
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Jerusalem real estate market is still holding up
Posted on 26. Oct, 2010 by Buy-It In Israel Staff.
The property market in Jerusalem is still booming representing much of a seller’s market in which sellers are still able to dictate the prices they want as supply of housing is low. “Yes, the housing market most certainly is booming. I would differentiate between areas, though,” says Sima Menora, real estate agent at Habitat Real Estate in Jerusalem. “Whereas Rechavia, Talbieh and the German Colony have historically been among the most popular areas in Jerusalem, other areas such as Baka and Old Katamon are quickly catching up, with other neighborhoods close behind.”
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More haredi projects next to Ramat Beit Shemesh Gimmel
Posted on 12. Oct, 2010 by Buy-It In Israel Staff.
The regional committee for planning and construction for Jerusalem has this week given the initial approval to a major plan for the establishment of two new neighborhoods next to Ramat Beit Shemesh Gimmel tailored for the Haredi public.
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Israel’s real estate market falls one spot in global ranking
Posted on 20. Sep, 2010 by Buy-It In Israel Staff.
Israel’s real estate market recorded the sixth highest rise in residential property prices in the world in the second quarter of the year falling from fifth place in the first three months of the year as prices slowed down moderately, according to the Global Property Guide’s latest survey of house prices.
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Professional real estate appraisal services
Posted on 06. Sep, 2010 by Buy-It In Israel Staff.
Buying, or selling a property or investing in real estate in Israel is a complex process, which requires an understanding of the Israeli real estate market and familiarity with laws, taxes and government regulations in Israel. Before entering into any real estate transaction in Israel, it is recommended to engage in comprehensive checks in an effort to unveil the characteristics of the property, uncover unanticipated “surprises” and eliminate potential dangers, while thereby averting hidden costs.
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Popular areas, cities for new home purchases
Posted on 29. Aug, 2010 by Buy-It In Israel Staff.
Cities and areas in outlying areas are continuing to attract the interest of homebuyers as prices in traditional high demand areas such as Jerusalem and Tel Aviv have been high up in the sky and the supply of new homes has been narrowing.
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Property prices to continue to rise
Posted on 15. Aug, 2010 by Buy-It In Israel Staff.
Despite increased efforts by the government to stem the sharp surge in Israel real estate prices they have continued to rise over the past year. The trend is expected to continue over the next year in light of the short supply of new apartments for sale.
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Rental prices expected to go up
Posted on 06. Aug, 2010 by Buy-It In Israel Staff.
Rental prices in Israel are expected to rise as a result of the recent hike in interest rates and tighter Israel mortgage restrictions. “In light of stricter conditions on the approval of mortgages, the rapid rise in housing prices, the recent interest rate hike, and the increase in the purchase of apartments for investment purposes over the past year, we are expecting a moderation in the surge of residential housing prices and a greater probability of a continued rise in the pace of rental prices in the coming months,” said Ayelet Nir, chief economist at IBI investment house.
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Effect of August interest rate hike on prime loan mortgages
Posted on 29. Jul, 2010 by Buy-It In Israel Staff.
For the first time in four months the Bank of Israel this week raised interest rates for August by a quarter percentage point from 1.5 percent to 1.75 percent in a move to cool Israel real estate prices which are feared to develop into a bubble. Over the past year prices in the Israel housing market have risen over 20 percent and the Bank of Israel warned recently that if they continue to rise at this pace a bubble will develop.
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