Bein HaZmanim in Tiberias

Vacation in the Galilee, Northern Israel

Summertime at the Sea of Galilee is definitely for the lovers of heat, but that does not seem to slow down the steady stream of tourists from all over the world. Vacation homes in Tiberias are harder to find, especially at affordable rates, but we have great vacation apartments at affordable prices.

For Israelis, the prime vacation time is Ben HaZmanim, the three weeks following Tisha b’Av. Come to the boardwalk during this time and you will find yourself in the midst of a sea of people. During this time, Tiberias becomes the city that doesn’t sleep.

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The best way to spend the hot, sunny days is at the beach. The Kineret, Sea of Galilee, is lined with beaches, regular and religious. In the evening, grab a speedboat and whip around the Kineret at record speed. Or, if you prefer something slower, take one of the large boats that float around the Sea of Galilee throughout the night, with food, drinks and space for dancing. The walkway is lined with booths offering everything from unique art to unique toys. There are pony rides for the kids and, of course, lots of food vendors, in addition to the gourmet restaurants.

Tiberias is one of the four Holy cities for two reasons: (1) It is the last place where the Sanhedrin sat and (2) kevrei Tzaddikim–graves of holy people. The most well-known, of course, are Kever Rambam, Rabbi Akiva, Ramchal, and R. Akia, but the ancient cemetery of Tveria holds the graves of many Tzaddikim, including dozens of the students of the Ba’al Shem Tov. Near to the cemetery is the kever of Rachel, wife of Rabbi Akiva.

Check out our vacation page, choose your vacation apartment, and come join us this summer or for the Chaggim or for a Shabbat in the Holy City of Tveria, on the shores of the Sea of Galilee.

Israeli Housing Construction Standards Slated for Improvement

346316Israeli Residential Real Estate Construction Industry About to Become Professionalized

If the Minister of Finance, MK Moshe Kahlon, gets his way, Israel will open up its residential construction industry to foreign developers. The plan is not without opposition, but the proposal brought before the Housing Cabinet is designed to speed up the construction timetable, getting that new home in your hands much sooner. Currently it takes around 15 years for developers to complete a new neighborhood, during which time construction prices rise, making that new home less and less affordable. The new effort is also intended to improve construction standards. For foreign buyers and olim from overseas, this could be very welcome news.

According to an article today in Globes, foreign developers would function as subcontractors to domestic builders, bringing in their own construction crew. The foreign developers would be allowed to operate in Israel for five years. While working in Israel, these foreign construction companies would be subject to all Israeli laws, including labor and safety.

The proposal has the backing of the Bank of Israel. Proponents highlight the proposal’s impact on improving construction standards, bringing it to a level of efficiency and perfection known throughout the western world. The government also proposes special grants to developers that adopt European construction standards and train their employees on the latest in construction technologies. Also funded will be a center for construction designed to raise the standard of professionalism and improve the overall housing construction industry.

Buyers Still Investing in Israel Real Estate

20160118_124849Israel Real Estate Market Continues to be Hot

The Israel Ministry of Finance passed a series of purchase tax modifications last year designed to slow down the purchase of real estate by investors. The Ministry’s objective was to open up more homes to young couples who cannot afford the high prices, especially in Israel’s center cities of Tel Aviv and Jerusalem. The thinking was that real estate investors, especially overseas buyers, drive up or maintain the high price structure, squeezing out young couples and others who need more affordable housing. The scheme seems to have worked everywhere but Tel Aviv. According to a recent Globes article, the proportion of real estate investors purchasing property in Tel Aviv actually increased by 17 percent in December.

The report also reveals that the number of properties sitting on the market waiting for buyers has dropped, to the lowest it has been since 2012. This means that it is a seller’s market, good news if you want to sell you home. If you are looking to buy property in Israel, it means that if you find something you like, you need to move quickly.

Be sure to contact us for all of your real estate questions and needs. Our focus is on northern Israel, but we have great referrals we can make to help you with your search in other parts of Israel.

Ready to Buy Property in Israel?

Israel real estate prices continue to rise

According to the most recent report out of the Israeli Ministry of Construction and Housing, the price of a home in Israel continues to be more expensive. The report, issued last month, states that the average price of a home in 2015 was 6.2% higher than in 2014. Second-hand home prices rose more than new homes, averaging 7.1% more in 2015 over 2014, with new homes showing an increase of 1.1%. The average price for a new home in 2015 was NIS 1.628 million.

telavivnightTel Aviv continues to lead the country in terms of housing prices. The average price for a second-hand, 3 bedroom apartment in Tel Aviv in 2015 was NIS 3.37 million. According to Globes, the most affordable place in Israel for homebuyers is Tiberias, where according to the data they used, the average price for a second-hand, three bedroom apartment was NIS 761,700 in 2015.

Globes also reports that the best return on your investment is in Tiberias, with an average return of 4.3% on rental apartments. Rents are much lower in Tveria, making it an attractive city for renters, compared with an average rent of NIS 6,840 for a three bedroom apartment in Tel Aviv.

At the same time, a Globes Azimuth Advertising Survey reveals that more Israelis are looking to purchase a home and they are prepared to pay the the increased prices. This latest survey was conducted in January, 2016, covering the second half of 2015. The survey indicates a rise of approximately 45% in the proportion of Israelis house hunting. For instance, in the previous survey, 7.2% of respondents said they were considering a home purchase compared to 8.2% in the new survey. 8.2 percent responded that they were actively searching for a home compared to only 3.6 percent in the previous survey. More competition for housing means higher prices, so this is good news for sellers. At the same time though, the number of buyers seeking small apartments, such as one or two bedrooms, declined, indicating a general drop-off in investment purchases due to the higher purchase tax on investors. The evidence of this can be seen more clearly in the center, where investors were grabbing up these smaller apartments for vacation rentals. The survey also indicated that Israelis were willing to deal with the increasing home prices rather than sit out waiting for government reform policies that promise to bring prices down. In other words, confidence in government policies that will make housing more affordable is waning as Israelis face the consequences of reality.

5-bigIf you are looking to buy property in Israel, for living or investment, the best place is in northern Israel, especially in Tiberias, Katzrin, Tzfat and the many moshavim in the Galil. We offer our services to help you find the perfect home or land to help you fulfill your dreams. Please visit our Hot Properties page for samples of what is available in this beautiful area. But keep in mind, not everything is listed on the page. This is why we refer to ourselves as property finders. Tell us what you need, and we will find it for you! and help you save money too! To find out more about us, please visit our About page and then be in touch. We look forward to meeting you.

Ready to Make a Real Estate Investment in Israel?

 

20160118_121127

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

Israel’s First Rent to Buy?

346316If Finance Minister Kahlon has his way, Israel will have its first “lease to buy” project. Working with foreign, primarily US, developers, the plan calls for an eventual construction of 10,000 apartment units that would be rented, by lottery, to couples who would pay upfront 10% of the purchase cost, and after 18 years would be owners of the property. These are new apartments, 4 bedrooms, 120 sq meters, to be built more quickly than is normal here in Israel. Financing would come from foreign banks. Here are the details of the proposed plan. Stay turned for its progress.

http://www.globes.co.il/en/article-israels-treasury-to-promote-home-lease-and-buy-plan-1001064583