New purchase tax law is coming out of the final gate and as you can see, buyers who were sitting on the fence have jumped down and are scrambling to make purchases quickly to avoid being hit with a huge tax bill that could significantly drive up the purchase price.
The law impacts Israeli buyers and foreign buyers differently. For Israeli buyers, the tax change will impact them when they purchase a second property. For foreign buyers, the changes impact all purchases.
Notice also the enormous increase in property prices experienced since 2008. In fact, here in Tveria one could purchase a nice apartment for around 250,000 shekels in 2008. Today there is nothing on the market for that amount of money, or, if so, you will need to invest more than this amount of money to make it liveable.
One week left—if you have been visiting this site or contacting us over the past several months contemplating a purchase, now is the time to go to contract. The new purchase tax is tied to the date that you sign, not the date that you complete the purchase! Be in touch today and let us help you get into your dream home at the most affordable price possible. email@example.com
Bid to make housing affordable sends buyers scrambling, but will it work? | The Times of Israel.