Buy-It In Israel» Guide to Buying, Building and Maintaining Your Property in Israel

Professional real estate appraisal services

Buy-It In Israel Staff — Mon, 06 Sep 2010 09:49:29 +0000

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.

Professional real estate appraisal services is a post from: Buy-It In Israel about real estate

New home prices fall by 0.9% in June

buyitinisrael — Sun, 01 Aug 2010 11:41:09 +0000

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.

New home prices fall by 0.9% in June is a post from: Buy-It In Israel about real estate

Effect of August interest rate hike on prime loan mortgages

Buy-It In Israel Staff — Thu, 29 Jul 2010 13:41:53 +0000

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.

Effect of August interest rate hike on prime loan mortgages is a post from: Buy-It In Israel about real estate

Homebuyers’ confidence in Israeli construction companies returns

Buy-It In Israel Staff — Tue, 27 Jul 2010 20:01:51 +0000

More Israel real estate buyers are again purchasing apartments and houses from contractors following the changes in the Israeli Sales Law, which seeks to protect the interests of new apartment buyers. In 2009 and over the course of the first five months of 2010, there is a rising trend in the rate of new apartments bought from contractors compared with 2008, according to a survey by the Contractors' Association.

Homebuyers’ confidence in Israeli construction companies returns is a post from: Buy-It In Israel about real estate

Interest rates in Israel – a look at historical and current data

Buy-It In Israel Staff — Sun, 18 Jul 2010 10:13:07 +0000

In Israel, the rate of interest is announced by the Bank of Israel at the end of every month. These announcements have been made since 1991, and provide the commercial banks with a benchmark for their rates on local-currency unindexed deposits and credit. This rate also affects the banks' prime rates. In the last few years prime interest has been about one and a half percentage points higher than the interest rate announced by the Bank of Israel. Prime rates are particularly important to mortgages linked to the prime interest rate. A mortgage linked to the prime interest rate based on the Bank of Israel rate is usually taken out for a period of up to 25 years.

Interest rates in Israel – a look at historical and current data is a post from: Buy-It In Israel about real estate

The cost of bureaucracy in Israel

Buy-It In Israel Staff — Thu, 15 Jul 2010 09:28:28 +0000

The bulk of bureaucracy involved in the process of issuing permits in the new construction sector makes up nearly six percent of the purchase price of a real estate in Israel, according to a study by the Israeli Contractors Association. Bureaucratic processes and delays in the approval of construction permits with which a contractor has to deal with, generates an additional cost of NIS 90,000 for the individual buyer to the price of an average four-room apartment at NIS 1,500,000.

The cost of bureaucracy in Israel is a post from: Buy-It In Israel about real estate

Understanding the Madad – Consumer Price Index

Buy-It In Israel Staff — Wed, 14 Jul 2010 08:10:16 +0000

The Madad, which is the Hebrew for Consumer Price Index (CPI) or rate of inflation, is followed very closely by Israelis since movements in the monthly index affect nearly every aspect in life from salaries, mortgages, housing, transportation costs or prices of fruit and vegetables, and other expenses. In brief, a number of very important income and other expense items of every household are linked fully or partially to monthly or quarterly inflation.

Understanding the Madad – Consumer Price Index is a post from: Buy-It In Israel about real estate

Bank of Israel warns on mortgage risk

buyitinisrael — Wed, 14 Jul 2010 05:34:20 +0000

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 [...]

Bank of Israel warns on mortgage risk is a post from: Buy-It In Israel about real estate

National Association for Better Housing

Buy-It In Israel Staff — Tue, 06 Jul 2010 18:46:59 +0000

The National Association for Better Housing (Ha'aguda letarbut hadiyur) is a non-profit organization to protect tenants' rights in apartment blocks. The association has legal advisers specialized in real estate and joint property law, whose services can be used by members in cases regarding tenants' rights, dispute-resolving in joint property disputes, payment failure of joint building expenses, counseling opposite maintenance companies or opposite constructors and builders.

National Association for Better Housing is a post from: Buy-It In Israel about real estate

Choosing the right type of kitchen countertop

DebbieG — Fri, 02 Jul 2010 06:52:43 +0000

In recent years, an array of choices of countertops (collectively known as shayish) have become available in Israel, from granite, wood, engineered stone to glass. The majority of products are brands imported from major companies around the world, while some products are 'home-grown"or manufactured in Israel. The types of countertops available for kitchen and bathroom tops, can be divided into six main groups which are granite, engineered stone, synthetic, wood, stainless steel and glass countertop products.

Choosing the right type of kitchen countertop is a post from: Buy-It In Israel about real estate