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New thresholds for calculating purchase tax
Posted on 22. Feb, 2011 by buyitinisrael.
Mas Rechisha (purchase tax) thresholds for buying real estate in Israel have been raised by Israel’s Tax Authority. As of January 16, 2011 new tax brackets will offer some savings for Israel homebuyers.
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Shutter Triss Repair
Posted on 16. Feb, 2011 by buyitinisrael.
Trissim, otherwise known as shutters or blinds are standard window treatments in most homes in Israel. They are made of slabs of aluminium that are bound together and usually white or off-white, bronze or olive green in color. Trissim do a fantastic job of turning day into night when you want to take a [...]
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Jerusalem municipality approves affordable housing plan
Posted on 12. Dec, 2010 by buyitinisrael.
The city of Jerusalem has given initial approval for the construction of a private residential Israel real estate project in the Gilo neighborhood, which will include affordable apartment units sold at a discounted price to young couples. The local planning and building committee of the Jerusalem municipality approved the construction of a residential building project for 130 apartment units out of which 26 units will be allocated for sale to young couples at a discount of 20 percent of the value of the apartment.
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New home prices fall by 0.9% in June
Posted on 01. Aug, 2010 by buyitinisrael.
The trend of a decline in prices of new homes reported from the beginning of the year continued in June, according to an economic report by Israel’s Finance Ministry. The median price of new homes dropped by 0.9 percent in June. A geographical comparison found that the decline encompassed most areas around the country apart from Haifa and Rehovot. The area which saw a sharp fall in Israel real estate prices in June was Beersheva.
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High Court to rule on ILA land sales
Posted on 15. Jul, 2010 by buyitinisrael.
The High Court of Justice on Wednesday began to hear two petitions calling for the nullification of an amendment passed by the Knesset last year, allowing the Israel Lands Administration to sell 800,000 dunams (80,000 hectares) of state-owned land to private investors. One petition was filed by attorney Gilad Barnea on behalf of a group of public petitioners including four youth movements, MKs from the left and right side of the political spectrum and other organizations.
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Bank of Israel warns on mortgage risk
Posted on 14. Jul, 2010 by buyitinisrael.
The Bank of Israel today warned about the possible effects of interest rate hikes on the mortgage market and about possible consequences of a substantial fall in home prices. The warning appear in excerpts from the “Annual Survey of Israel’s Banking System, 2009″, which focuses on stress tests for banks. Read the full article on Globes [...]
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Tel Aviv home prices continue to rise
Posted on 12. Jul, 2010 by buyitinisrael.
Classified ads site Homeless shows that while prices for three, four, and five-room apartments in Tel Aviv and Rishon LeZion are rising, prices are falling in Ramat Gan, Givatayim, and Netanya. Prices for three-room apartments in Tel Aviv reached NIS 1.99 million in June, up from NIS 1.92 million in January, when the Globes-Homeless Index was launched. Prices for three-room apartments in Rishon LeZion rose to NIS 1.07 million from NIS 962,000 over the same period.
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Points to consider when negotiating a rental contract
Posted on 29. Jun, 2010 by buyitinisrael.
Negotiating a rental contract can be stressful for both the landlord and prospective tenant. The negotiations may be further exasperated when a family is endeavoring to rent a home in Israel from abroad. An additional challenge is that a supermajority of rental agreements are presented to the prospective tenant in Hebrew, and in many situations the landlord’s English skills are severely limited as is the Hebrew of the prospective tenant. Add that to the technical differences between what is standard in rentals in Israel and your home country, and the cultural differences, and rightfully so, many parties find themselves extremely challenged.
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Using Shabbat timers for operating lights and fans
Posted on 27. Jun, 2010 by buyitinisrael.
The Torah prohibits 39 activities on Shabbat. Included in these prohibitions are activities such as switching on or off lights, fans, air-conditioningand heating systems. A common practice today in Jewish homes in Israel and abroad is for the use of a Shabbat timer (shaon Shabbat) to perform these activities, where a timer is set before Shabbat and continues to operate on Shabbat without any human involvement.
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12 steps to take before building a basement
Posted on 21. Jun, 2010 by buyitinisrael.
A common trend nowadays in Israel is to build a basement beneath a house. The addition of a basement to an existing property, can provide the owner with a large amount of additiona living area and can also add significantly to the value of the property. However, basement excavations and conversions, carry many regulations and permissions with them. They are each unique and very much depend upon the condition and structural ability of the existing property.
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Housing Minister seeks VAT cut for first-time home buyers
Posted on 15. Jun, 2010 by buyitinisrael.
Amid rising property prices, Israeli Housing and Construction Minister Ariel Atias and the Finance Ministry are proposing benefits and incentives aimed at assisting young couples to buy their first home. Under the proposal suggested by the Housing and Construction Ministry, first homebuyers will be exempted from value-added tax when buying a new home in the periphery.
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