If 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.
Price of homes in Israel have risen by 3.2% over the past 12 months according to officials at Bank of Israel.
It is important to know that only around 7% of all the available land in Israel is private. The vast majority is in the hands of the State or the Jewish National Fund. And, of the 7%, most of it is owned by developers. But, here is a project that will place private land in your hands and you can build the house of your dreams upon it!
A brand new neighborhood is taking shape in Tiberias, near the Sea of Galilee. 100 lots each one 400 sq meters, each one offering exquisite views of the Kineret and city of Tveria. You have up to five years to build your home in Israel, in whatever style you prefer. There are size restrictions depending upon the lot. Prices vary by lot location but range from 1,500 – 1,700 per sq meter.
The entire neighborhood will be ready in a year. Lots are already being reserved, so move fast to catch your piece of Israel. Buy now, in advance of your aliyah and build upon your arrival. Or build next year and rent your home until you arrive. Whatever you decide, the most important point is to act now. Contact us at firstname.lastname@example.org for more specifics and reservation details.
Minister Kahlon’s plan to increase the purchase tax on investment real estate purchases is sailing its way through the government channels, with a reading expected in Knesset later this week. The impetus is to bring in more revenue to government coffers and analysts predict the impact on rental properties will be small. The new tax applies to properties purchased for other than residential purposes. If you are coming to live in the house or apartment that you purchase, then this purchase tax increase does not apply to you.
What does this mean for you?
The new tax will be 8% on the first 1M shekels and 10% on the rest.
Two options: if you are close to purchasing property in Israel it would be a good idea to do so by the end of this month, June, 2015. The tax hike will go into effect on the first of July, 2015. (2) increase your purchasing budget.
If you were sitting on the fence regarding a property you saw here on our blog, now would be the best time to get down and finalize the deal. Contact us today.
Here is a rare opportunity to purchase private land (will be registered under you name in the Israel Land Records) and build your dream house the way you like it! A completely new neighborhood is underway in the very upper reaches of the city of Tiberias. Buy a lot and build your own home according to the style and price that you choose. Each lot is approximately 400 sqm, and there will be a total of 100 lots in the neighborhood. Each lot will be equipped with all utility lines. Your purchase price includes neighborhood amenities, such as synagogues, children’s playground, park, etc. You can walk to one of the most popular and large grocery stores and Big shopping center. Also, the higher elevation, means cooler summers!
If you are just now planning aliyah to Israel and love the idea of building your own home, this is a perfect option for you. Aliyah plans a year to two away? Perfect! Buy your lot now and build your house before you arrive. The are is filled with many good home builders. Or, come and build it with your own hands. Aliyah to the north is growing, especially to Tveria. Buildable land is become more and more difficult to find. Here is an opportunity to get in on the ground floor of a new neighborhood and take part in its shaping. Reservations are being taken now. This opportunity will not last long. Private land for building is a rarity here. Contact us at email@example.com for more details.
From a distance, it may look as if things are a bit troubling over here. But, in fact the opposite is the case. A new coalition government, daily explosion of medical and scientific discoveries, new communities taking shape, thousands of olim returning, expanding energy supplies and a happy, healthy population makes Israel the best country in the world with a strong future until the end of time.
This would be a good time to buy your property in Israel. If you are not organized yet to come and live, stake your claim and buy your home in Israel now, rent it out until you are here, and earn some good income from it.
Dreaming of building your own home in Israel? An exciting project is taking shape in the Holy City of Tveria…more about this later.
Take a look at what the experts are saying, don’t just take it from me.