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!

 

Buying Real Estate In Israel

Here is a very short video to reinforce why it is very important to have a lawyer to handle your real estate purchase. And, I would add another very important point: Do not be persuaded to use the same lawyer as the seller. Many times, especially when the real estate agent is representing both you and the seller, he or she will suggest to utilize the services of one lawyer, in order to make the process go more quickly. It is true, it can make the process move forward more quickly, but just as the real estate agent has challenges in representing both sides (since both sides want the best deal), so the lawyer has challenges, and later on, should there be any problem with the property, you will find yourself in a bind as to what recourses are available to you.

Your lawyer will require a power of attorney from you in order to complete all the transactions related to the sale. If you are not in Israel at the time of signing the purchase contract, then you will need to provide this from abroad, with an Apostille affixed to the document. This can take time, depending upon how far away you are from an Israeli consulate and the waiting time for securing an appointment. Many overseas buyers also provide a power of attorney to a real estate agent, for the purpose of managing the property. This is a legally binding document that cannot be revoked simply by a letter or phone call. In the wrong hands, it can bring you disaster.

Enjoy the video!

 

Forbes Israel 30 Under 30

1222_forbes-cover-011816-30-under-30_1000x1313-1Not only is there great real estate in Israel, but also great minds. One glance at the medical, scientific, high-tech, financial, or business news pages will confirm that Israel is at the forefront of innovation in just about every discipline known to man. And now we have our very own, first ever Forbes Israel 30 Under 30 list, featuring 60 young entrepreneurs in the fields of media, business, technology, government and social welfare. This year, the annual Forbes “Under 30” Summit will be held in Israel, further evidence of our leadership in the world. If you need more reasons to make aliyah and come on over to join the Nation, here is one.

Let’s take a peek at the Forbes Israel 30 Under 30

Itay Pincas is only 14 years old. He founded a company called Joy2Day, which has developed more than 20 apps.

Roy Reznik is 27 years old. He is the co-founder of Adallom, which he sold to Microsoft for a cool  $320 million.

Noa Raviv, 28, considered to be one of the rising stars in the Israeli fashion world, is designing exquisite work which has been showcased in the NY Metropolitan Museum of Art.

Dr. Kira Radinski is one of the Big Data pioneers and has created a unique algorithm to predict major outbreaks, such as plagues.

The Forbes Under 30 Summit, which will take place in Tel Aviv 3-7 April, 2016 promises to be a stellar event, with 600 or more dynamic, young entrepreneurs from around the world including Africa, the US, Europe, and Israel in attendance.

Of course, we here in Israel are very proud that Forbes has chosen us to host this year’s “Under 30” Summit, yet another reason to make Israel your home.

 

 

Tips for Buying Property in Israel

חזית הבית (1)Ready to Buy Real Estate in Israel?

Some Tips to Help You Find Your Perfect Home

Part One: A Brief Overview of Israeli Housing

Nothing can be more exciting than coming home to Israel. B”H, today it is easy, just contact Nefesh b’Nefesh, pack up and get on the plane. Okay, there are some small steps in between, but making Aliyah is nothing like it was in the past, when you had to travel by boat or camel, for months at a time, risking your health and life to arrive in the Holy Land. If you come on an Aliyah flight, you need only settle into your seat, go to sleep and wake up with your teudat zehut in your hand!

Before you make Aliyah you most likely will make a pilot trip to Israel to scope out communities, schools, economic opportunities and get a sense of how it is to live in the Land. The most important decision you will make is where to live. The answer depends upon a number of factors, but this article, the first in a series, iy”H, focuses on the Israeli real estate landscape. In future articles, we hope to give you a brief overview of Israeli cities and communities and important tips for making that very important real estate purchase. So, let’s begin.

Israel is small

All of Israel is only 21,946 square kilometers! This means that no place in Israel is far away. So, if you have friends or family in Yerushalayim, but you want to live in the north, no problem. Commuting is easy!

Geography

The country is divided basically into five areas: North, Center, Jerusalem, South and the Negev.

North: Northern Israel displays gorgeous, rugged terrain and diverse topography climbing up mountain peaks, swooping into valleys, and scaling the rocky coastline. Here you will find the regions of:

  • Upper and Lower Galilee
  • Northern coast
  • Northern valleys (Jezreel, Hula, Beit She’an and Jordan)
  • Zevulan Valley
  • Haifa Bay
  • Golan Heights

The major populations centers are in and around Haifa, Tiberias, Afula, Safed (Tzfat), Acco, Nahariya, Beit She’an, Hadera, Carmiel, Zichron Yaakov and Kiryat Shmona. The northernmost city in Israel is Metulla.

Center: Most Israeli’s live in the Center, which includes Shomron and the Coastal Plain. Here you will find the cities of: Tel Aviv/Yaffo, Petach Tikva, Bnei Brak, Ramat Gan, Netanya, Holon, Herzlia, Hod HaSharon, Ramat HaSharon, Kfar Saba, and Hadera.

The Jerusalem area includes of course our capital city of Jerusalem, plus also its surrounding cities of: Beit Shemesh, Ramat Beit Shemesh, Givat Ze’ev, Ma’aleh Adumim, Modi’in and Kyrat Arba.

South: The south region is home to the southern coastal cities of: Ashkelon, Ashdod, Rishon LeTzion, Gedera, Rohovot, Kiryat Gat, Nes Ziona, and Kiryat Malachi.

Negev: Lots of new residential, commercial and government developments are taking shape in the Negev, a stunning region of deserts, cliffs and seas. The Negev region is home to: Be’er Sheva, the largest city in the Negev, Ofakim, Arad, Yerucham, Netivot, Eilat and Mitzpe Ramon. Within this region is the Dead Sea and Red Sea.

While the majority of Israelis choose the Center or Jerusalem regions, many find the less populated, more affordable and more scenic peripheral areas to be more attractive. If you visit these regions today, you will see a tremendous amount of new growth as more and more communities begin to dot the landscape.

telavivnightAre you city or country?

Urban living

Within the urban centers, you can find new and resale homes to suit every need and budget. Unlike overseas, apartment-living is the norm here and the average apartment size is much smaller than what you are used to. The typical Israeli apartment is around 120 square meters. Apartments are described by the number of rooms, which includes the total number of bedrooms and the salon, or living room. The kitchen and bathrooms are not included in the total number of rooms. So, if you see an advertisement for a 4-room apartment, this means that it has three bedrooms plus the living room. Most apartments have balconies, called a mirpeset. Some are suitable for your succah. All apartments constructed after 1991 must have a safe room, called a mamad. Do not be surprised by the number of older apartment buildings that have no elevator—the famous “walk-up” is alive and well here. Israel receives a tremendous amount of sunlight and we have learned how to harness that energy to save on utility bills. Most apartment buildings have both solar (called dude shemesh) and boiler-heated water. Some older buildings offer only heating by electricity. Air conditioners are standard, called mazgan, and depending upon where you choose to live, you will find that in the summer it is pretty much impossible to live without one.

Residential buildings are governed by a va’ad ha’bayit, or residents’ management committee. There are some older buildings that do not have a va’ad, and the residents themselves accept responsibility for maintenance and cleaning. However, where there is a va’ad, usually the building is better maintained. Your va’ad fee will cover the cost of cleaning, maintenance of elevators, if they exist, and maintenance of the building and grounds. The newer the building, and the more elaborate the amenities, the higher the va’ad ha’bayit monthly fee.

Golan_Heights_-_Gamla_viewOf course, a city may not be to your liking at all. No problem, Israel also offers a number of rural options: yishuv, moshav, and kibbutz. Each community offers a different kind of communal living experience, ample land, and variety of housing in peaceful and quiet settings. The communities are organized into regional councils that have oversight over education, cultural activities and healthcare. Many rural communities are located near to cities, giving you the best of both worlds.

Moshav: Moshavim began as agricultural communities, where residents earned their income through agricultural activities such as farming or ranching. All residents received land for their home and land for farming. Today the moshav has evolved into more of a bedroom community. Residents earn their livelihoods from a variety of sources, most recently, from tourism, successfully operating very popular zimmers. Very few moshavim are engaged in agricultural businesses. On the moshav, your home and the land upon which it sits belongs to you, but the land of the moshav belongs to the state. If you wish to live on a moshav, you must pass a rigorous interview process by the receiving committee, by the regional council and also pass a state-administered psychological test.

Yishuv: A yishuv is basically a bedroom community. The main focus it to maintain the country-like feel of the setting, with only single family homes, on large lots and the same educational and cultural services you would find in the city. You can purchase land and build your own home (there are community standards) or find many second hand homes of various sizes. There are no entrance requirements or interviews.

Kibbutz: Kibbutzim helped formed the foundation of our modern state of Israel. Today, though, not many kibbutzim still operate as they once did. In general, the kibbutz is a collective, meaning that all residents share in the work of the kibbutz and in the income. There is private and communal living. Kibbutz residents own the homes, public areas and the commerce of the kibbutz. Educational, healthcare and cultural services are provided by the kibbutz. Kibbutzim today primarily make their income from tourism related activities, very few are still engaged in agriculture or manufacturing. Also, due to an aging population and lessening of popularity, many kibbutzim have opened up their membership to include new residential areas that exist somewhat separate from the original kibbutz cooperative. Potential residents must pass an interview process and conform to the norms of the kibbutz, each one having their own character. Where the kibbutz has decided to sell land to developers for the purpose of new homes, these residents are not a part of the kibbutz cooperative and do not need to pass the acceptance committee.

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Hopefully, this brief overview will give you some simple tools for deciding where to buy property in Israel. Future articles, iy”H, will discuss:

  • purchasing land in Israel for building and the steps involved in building your own home in Israel
  • types of property registration
  • the process of purchasing real estate in Israel, from within the country and from abroad
  • renting a home in Israel

To stay up-to-date on future posts, be sure to click the “Follow” button and add your email address.

Please visit our “hot property” pages, like us on Facebook and look us up when you come to Israel to begin your property search.

Ready to Make a Real Estate Investment in Israel?

 

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ONLY 650,000 NIS

This is a very affordable home in the Holy City of Tveria, located within a very easy walk to the city’s main shopping streets, the outdoor market (shuk), and downtown commercial center. The apartment is located in a neighborhood filled with synagogues, a mikveh, kollel, and several other places for learning day and night. Outside of the neighborhood, one can easily walk to Chabad House, two other historical synagogues on the waterfront, and the Karlin synagogue. Surrounding the neighborhood are the gorgeous hills of southern Tveria, where you can hike along trails and explore ancient caves, or hang out with the horses and cattle.

The apartment itself is a steal. Listed at only 650,000 NIS, this gem is on the second floor, 120 sq meters, 2 bedrooms, two balconies, kitchen, one bathroom with shower and a second bathroom with sink and toilet. You will love the view of the Kineret from the balconies. The property is in good condition, ready to move in or rent out. It would be a very good investment, as rental properties in this neighborhood are hard to find. Visit our Hot Properties in Tiberias page for more photos. ONLY 650,000 NIS

Contact us at galilproperties@gmail.com