Investment/Commercial

Here is an exciting opportunity to become active in the successful boutique hotel business in Tzfat. This is an exquisite, luxury hotel property in the Old City of Tzfat, near the Artists Quarter. There are eight suites, all with jacuzzi tub and balconies where guests can enjoy the stunning views of the mountains of Meron. Suites are a combination of doubles and family. Nothing needs to be done to this property. It is ready for purchase and you can start making money right away. Certainly, if you choose, you can make modifications to the property, but nothing is necessary… it is in perfect condition. 400 sq meters, not including outdoor space. Lobby and outdoor patio can be rented to concessionaire for additional income. $2 million

Here is a chance to step into a successful zimmer business located right on the midrachov in Safed, across from the entrance to the Artists Quarter of the Old City. The zimmer consists of 2 guest rooms, bathroom, salon and kitchen. A total of 50 sq meters, fully furnished and being sold “complete,” including access to business records. You can add a second floor above, and make it a 4-bedroom zimmer, or sleep above and use the lower floor as is for business income. The zimmer is active and booked through the end of the year, earning a very nice return, with minimal effort. (income reports available upon request) With a little more aggressive marketing and advertising, you could easily double the income. Maintenance and other overhead costs are very low, meaning that more of the bookings income is profit. You can’t beat the location, right off the most popular and well-known street in Safed. Guests love the convenience of being able to walk everywhere in the city, as well as the historic Old City, synagogues, restaurants, galleries and other tourist attractions. It is a bargain investment property at this price. 800,000 NIS

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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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