Controversial Tax on Owners of Three or More Homes Struck Down

Minister’s Kahlon’s plan to penalize primarily investors, with a special tax for owning three or more dwellings was squelched by the Israel Supreme Court.

There is definitely a shortage of affordable housing in Israel, especially for young, growing families. It is particularly acute in Israel’s center, less so here in the north or in the south. Minister Kahlon sought to address this issue by assessing a punitive tax on investors designed to open up the market and increase rental home stock in Israel. But, it was pretty much universally agreed that this approach would fail to reach its objective. During the time the proposed law was pending, there was a noticeable drop in the number of real estate purchases by foreigners.

It is not the end of the story. The Israel Supreme Court suggested that the Knesset re-examine the approach and come up with something better. Minister Kahlon remains dedicated to his cause so we can expect him to offer this plan again in the new session, once everyone returns from summer vacation.

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Buy this Affordable Property in Israel

We will leave the discussion of whether property prices are coming down or going up to the banks and financial experts. To this date, we are not seeing a cooling down of real estate market prices, except in the center where the home prices were already inflated.

The north has already been a much more affordable place to buy real estate in Israel, and it continues to be the region of choice for savvy property buyers.

Here is a great example of the kind of affordable homes on the market in northern Israel.

This property is located in Tiberias, Israel. It is a gorgeous apartment, being sold fully furnished. It has been meticulously cared for and is in excellent condition.

The apartment is located on the 2d floor of a two-floor building, housing only 4 apartments. The views from the living spaces are absolutely stunning. The kitchen is modern, with plenty of cabinetry and counter space and eat-in table. There is a separate dining area and large salon from where you can watch the sun rise over the Kineret as you enjoy your favorite morning drink.

There are 3 bedrooms, including a master bedroom with full bathroom. There is a second full bathroom. Contact us soon at galilproperties@gmail.com to arrange a viewing.

Only 825,000 NIS.

 

 

 

Buy a Private Home in Israel

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If you are looking for a place to enjoy, unwind and relax, surrounded by the natural beauty of northern Israel, then this is the place for you.

When buying property in israel it is important to think about how you want to begin and end your day. Here, you can begin and end with a relaxing soak in the Jacuzzi, located on the upper mirpeset (balcony), from where you can look at the constantly changing mosaic created by the sun shining upon the agricultural hills and valley all around.

The house itself is perfect for a growing family, young couple or retirees. The property is filled with fruit trees and is located at the edge of the beautiful, growing yishuv of Yavne’el, only 20 minutes from Tveria.

Inside there is two floors of living space, with five bedrooms, three bathrooms, all with showers, laundry room, pantry, spacious kitchen, living room and storage.

If you are ready to buy property in Israel, you will be hard pressed to find something nicer or more reasonably priced. Only 1,450,000 shekels buys you a house in Paradise. Contact us at galilproperties@gmail.com to arrange a viewing.

Buying Property in Israel is Getting to be More Expensive

While you can still find good deals on affordable homes in northern Israel, buying property in Israel is not as cheap as it used to be. Even though fewer contracts were closed in the past quarter, prices are not coming down. In fact, sellers are raising their prices. The main problem is the lack of housing stock. And, the lack of private land available for sale upon which to build. Investor purchases have slowed, but this has nothing to do with the price of homes and everything to do with the new tax structure.

Our advice is that you lock in your home in Israel now, because the prices are not going to come down, and you will have an investment that will increase in value. Even if you never live in the home and sell it, you will make some money. Best is to buy now and come when you are ready. Or better yet…come now!

http://ch7.io/c4vu

 

Want to Buy Property in Safed, Israel?

old-city-safedIf you are holding out for a new apartment in Safed, there is some great news for you.

Seventy-five acres were purchased recently by two frum developers at the top of the Canaan neighborhood in Tzfat. Plans are to build 2,000 apartments for the frum community. Safed, or Tzfat, is already home to thousands of chareidim, who enjoy not on the great mystical and holy atmosphere of this beautiful city in the mountains of northern Israel, but also the great home prices. Whereas across Israel, the price of apartments has been leaping upward, in Safed, they remain affordable.

As with all new projects, quite a bit more work needs to be done with the city planning and zoning offices, but the good news is that the ink is dry and the process is moving forward. Stay in touch with us to be kept up to date, and to learn about making a reservation once the project arrives at that point.

Check out our Tzfat page for a sample of properties available in Safed, but keep in mind, that many properties are not listed here. We are expert property finders. Just be in touch, tell us where you want to live (in the Galil) and we will find it for you!

 

Buy Apartments in the Galilee, Israel

private home in safed, israel

private home in safed, israel

Prime Minister Binyamin Netanyahu was in the Galilee (Galil) yesterday to lay out his vision and future funding for developing the north of Israel, in the Galil. The Prime Minister wants to see the north develop like the south, where there has been a huge building rush of houses and businesses. Along with all of that great development, there has been a corresponding increase in the price of homes.

At present, one can still buy apartments or homes in Israel, in the north, for very reasonable prices. And, even though government ministries and the Bank of Israel predict a slowing down of the real estate market in Israel, an infusion of residential and commercial development in the north will automatically increase property values and heat of the home sales market. Now is a good time to buy real estate in Israel, in the north, especially in places such as Tzfat, Tiberias, Migdal, Yavne’el and the moshavim surrounding the Kineret.

Prime Minister Netanyahu promised government investment in building a future in the Galilee, meaning jobs, training, and housing, with a focus on strengthening entrepreneurship. He also spoke about the relocation of industries to the north, which will bring immediate employment opportunities. Netanyahu said that the government also intends to build civil infrastructure, increase and enhance medical facilities in the Galil and engage in a campaign to bring new residents to the cities of the Galilee. All in all, it sounds very good.

 

Buying Property in Israel?

Have you been sitting on the fence, looking at real estate in Israel but not yet taken the plunge? It could be that your hesitancy is working to your advantage. No guarantees of course. In this business, the real estate landscape can change quickly. But, in a very interesting Globes article interviewing Avi Tiomkin, a consultant on international hedge funds, real estate prices in Israel are declining, and in time, the prices you see on the market will more accurately reflect reality. According to Tiomkin, the prices we see now are a result of the combined efforts of Israeli banks and developers to keep prices higher, but Tiomkin believes this scheme is coming to the end of its life.

Tiomkin points to a number of indicators, such as a significant drop in housing sales, especially in the luxury market, a tremendous slow-down in demand by overseas investors and speculators, and a soon-to-be influx of new housing stock on the market. He paints a potentially gloomy picture too, depending upon the actions or inactions of the Ministry of Finance and the Bank of Israel. I am sure both will do everything they can to keep the real estate market in Israel strong.

Bottom line: we are entering a true buyers’ market. Should you sit it out longer? Maybe, but it could also be that the scenarios Tiomkin paints do not materialize, or are short-lived. It can also be that while you sit it out waiting for prices to fall further, someone else comes along and grabs your dream home. We suggest a little of both. Be careful about checking the market, doing research on comps, getting a second opinion on the true worth of the property and then jump in.

private home in safed, israel

private home in safed, israel