Israel Real Estate
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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Israel Tax Authority wants to levy higher taxes on purchasing groups
Posted on 29. Jun, 2010 by Buy-It In Israel Staff.
Israel real estate purchasing groups are organized groups of mostly private individuals who join up to buy land rather than through a contractor in order to build one or two buildings mainly for residential purposes and most recently also for commercial use. The Israel Tax Authority is now advancing plans to levy the purchase tax for buyers groups on the apartment and not on the land as is currently the case. What this means is that an individual joining a buyers group will be defined as a buyer of an apartment and not just the land. As a result, purchasing group buyers will need to pay the same taxes as other Israel home buyers.
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Get benefits if you chose to live in south or north of Israel
Posted on 22. Jun, 2010 by Buy-It In Israel Staff.
The Israeli government is offering a new incentive and benefit program to new immigrants should they decide to make their home outside the country’s large cities in the north or the south of Israel. The new program operated by the Israeli Immigrant Absorption Ministry together with the Negev and Galilee Development Ministry seeks to boost Aliyah of young immigrant families in peripheral cities in the Negev and the Galilee.
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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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Mayor unveils affordable housing plan in Jerusalem
Posted on 14. Jun, 2010 by Buy-It In Israel Staff.
Under the terms of the “20:20:20″ plan, which was unveiled by Nir Barakat on Sunday, Israel real estate contractors and builders with plans for new construction projects of more than 20 housing units or more than 2,000 square meters in the capital, will need to allocate at least 20 percent of those units of up to 100 square meters, for affordable housing purposes, that is they will need to be sold at a discount of 20 percent to the market value. The municipality estimates that the plan will reduce the purchase price of apartments by an average of NIS 200,000-300,000.
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The Implications of the Construction Freeze
Posted on 11. Jun, 2010 by buyitinisrael.
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.
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Bank of Israel to avert housing bubble
Posted on 11. Jun, 2010 by Buy-It In Israel Staff.
The Bank of Israel said this week that it will continue to watch the country’s booming real estate market and take measures, if necessary, to prevent a housing bubble. The Bank of Israel’s Supervisor of Banks Rony Hizkiyahu, said that although there is no bubble in the Israel real estate market developing according to the definition of of a bubble [...]
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Israel records fifth highest rise in property prices globally
Posted on 02. Jun, 2010 by Buy-It In Israel Staff.
Home prices around the world are changing direction led by Israel which was ranked in fifth place in the list of countries with the sharpest increase in real estate prices in the first quarter of this year, according to the Global Property Guide survey. Israel recorded the fifth highest rise in residential property prices in the world in the first three months of 2010 as prices leaped by 12 percent compared with the same quarter of 2009 and by 2.92 percent compared with the fourth quarter of last year, in inflation-adjusted terms.
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Ra’anana becomes first green building city in Israel
Posted on 27. May, 2010 by Buy-It In Israel Staff.
Slowly, Israel is catching onto the idea of green building. The city of Ra’anana this month decided to adopt the green building standard, which will require real estate companies, constructors, and architects to plan and build in compliance with the green standard.
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Bank of Israel sets new rules for mortgage loans
Posted on 25. May, 2010 by Buy-It In Israel Staff.
The Bank of Israel this week issued new guidelines for the country’s banks regarding mortgages which will make it more difficult for homebuyers, in particular young couples, to buy a new home in Israel. The new restrictive mortgage guidelines come in response to ballooning Israel real estate prices across the country over the past two years, which peaked in December 2009.
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Israel wants to bring 15,000 expats back every year
Posted on 21. May, 2010 by Buy-It In Israel Staff.
Israeli Prime Minister Binyamin Netanyahu this week announced a number of new benefits for returning Israeli residents which will put them on a similar footing with benefits received by new immigrants. The Israeli Immigration Ministry said that the approved benefits seek to bring back 15,000 Israeli citizens per year. Currently an estimated 750,000 Israelis live abroad. As a result of the global economic crisis there is a recent trend of expatriates showing an interest in coming back to live in Israel.
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