Buy-It In Israel» Israel Real Estate Law

Tax changes for the Israeli real estate market in 2011

Buy-It In Israel Staff — Tue, 11 Jan 2011 10:15:39 +0000

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.

Tax changes for the Israeli real estate market in 2011 is a post from: Buy-It In Israel about real estate

28% of homebuyers unveil defects in purchased homes

DebbieG — Sun, 12 Sep 2010 10:48:42 +0000

Only a third of home-buyers of second-hand homes in Israel are having professional checks done before purchasing a home, according to a survey conducted by Nest Value. The survey revealed that 28 percent of buyers of second-hand homes in Israel when moving into the home discovered problems and defects in the home that they did not know and were found only after signing a purchase agreement. About 90 percent of the unveiled problems are related to construction and building defects in need of repairing and 10 percent are related to problems of environment.

28% of homebuyers unveil defects in purchased homes is a post from: Buy-It In Israel about real estate

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

Points to consider when negotiating a rental contract

buyitinisrael — Tue, 29 Jun 2010 11:46:36 +0000

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.

Points to consider when negotiating a rental contract is a post from: Buy-It In Israel about real estate

The Implications of the Construction Freeze

buyitinisrael — Fri, 11 Jun 2010 10:29:50 +0000

On 26 November 2009 the Netanyahu administration imposed the ‘building freeze’ (order no. 1653) which will be in place until 26 September 2010 . Under the provisions of the order, any new building in the West Bank or East Jerusalem whose foundations were not poured by 26 November 2009, are prohibited from carrying out any building works. The order applies equally to all properties be they private, public, residential or commercial.

The Implications of the Construction Freeze is a post from: Buy-It In Israel about real estate

Understanding building permits and planning permission in Israel

buyitinisrael — Tue, 18 May 2010 13:40:43 +0000

Many foreign residents purchasing Israel real estate are surprised by the prevalence of illegal extensions to the apartments they view prior to finding the property they will ultimately purchase. This phenomenon has its roots in many different factors, including the complicated and drawn out process for obtaining building permits in Israel; the costs involved which can in certain circumstances be excessive and the limitations on the extent of construction imposed by local authorities.

Understanding building permits and planning permission in Israel is a post from: Buy-It In Israel about real estate

Warranties of the Builder on Newly Constructed Homes

buyitinisrael — Mon, 03 May 2010 10:35:22 +0000

In an attempt to settle some of the confusion surrounding the warranties associated with new construction, a goal of this article is to provide the reader with some basic knowledge about the warranties that a Kablan is obligated to provide to a purchaser of new construction which are primarily set forth in the Sales Law (Apartments), 5733-1973 and the addendums thereto.

Warranties of the Builder on Newly Constructed Homes is a post from: Buy-It In Israel about real estate

Understanding Mas Shevach tax exemptions

buyitinisrael — Tue, 13 Apr 2010 15:34:01 +0000

When selling a house or apartment or any other Israel real estate you may have to pay capital gains tax (known as Mas Shevach) at a rate of around 20 percent. This tax is applied to any capital gain or profits generated as a result of selling a property in Israel. It is important to understand the cost of the tax when considering selling an apartment to buy another.

Understanding Mas Shevach tax exemptions is a post from: Buy-It In Israel about real estate

Haifa court case sets precedent for broker commission payment

Buy-It In Israel Staff — Tue, 16 Mar 2010 11:27:16 +0000

Those who are interested in purchasing or renting a home in Israel using the services of more than one real estate agent should be aware of the legal trap and fees they could fall into under what is termed the "efficient cause" leading to sales transactions of property in Israel.

Haifa court case sets precedent for broker commission payment is a post from: Buy-It In Israel about real estate

Buying a second-hand home in Israel: What will our attorney do during the negotiation process?

buyitinisrael — Sun, 07 Feb 2010 16:38:11 +0000

When purchasing a second-hand home in Israel, it is customary for the purchaser’s attorney to conduct negotiations with the vendor’s attorney by discussion, exchange of correspondence, and drafts of the contract of sale which reflect each party’s concept of how the transaction should be structured. The following is a selection of some of the more critical issues that a purchaser’s attorney will address during the process of a second-hand transaction:

Buying a second-hand home in Israel: What will our attorney do during the negotiation process? is a post from: Buy-It In Israel about real estate