Bought your dream house in Israel? Now make sure it doesn’t turn into your worst nightmare – Real Estate – – Haaretz Daily Newspaper | Israel News

Bought your dream house in Israel? Now make sure it doesn’t turn into your worst nightmare – Real Estate – – Haaretz Daily Newspaper | Israel News.

Buy Your Real Estate in Northern Israel

IMG-20121022-00354No matter how you look at it–renting or buying–your best deals are in northern Israel. Here in Tveria, you can rent a great 3-room, renovated apartment, with mirpeset, gorgeous views, furnished, near to synagogues and shopping, and easy downhill walk to city center for only 2,000 shekels per month. Or, you can buy a stunning, 4-room, upgraded apartment on the midrachov of Tzfat, just steps from the Old City’s ancient synagogues and walkways, for only 1.1M shekels. See the difference? What are you waiting for?? Contact us today for a full listing of available properties.

A selection of recent deals in the residential real estate market.

Second-hand apartments sold
Tel Aviv and central region
Tel Aviv:A 90-sq.m. three-room, 27th floor apartment with balcony, elevator and parking on Nahlat Yitzhak St. in Nahlat Yitzhak was sold for NIS 2.14 million. A 100-sq.m., four-room, second floor apartment with balcony, elevator, parking and storage room on Arie Disintsky St. in Revivim in North Tel Aviv was sold for NIS 2.63 million. A 64-sq.m. 3.5 room, third floor apartment with a TAMA 38 agreement near approval to add a security room and enlarge the salon, with an elevator but no parking on Beit El St. in Neve Sharet was sold for NIS 1.49 million (Anglo-Saxon).

Holon: A 60-sq.m. three-room, third floor apartment on Halohamim St. was sold for NIS 940,000. A 100-sq.m. four room, sixth floor apartment with eelevator and shared parking on Eilat St. was sold for NIS 1.22 million (Re/MAX).

Modi’in: A 160-sq.m., 6-room house in Buchman Darom including a 60-sq.m. garden built one year ago with two parking places and storage room was sold for NIS 2.6 million (Shumacher Real Estate).

Haifa and the north
Haifa: A 90-sq.m. four-room, third floor apartment in Central Carmel on Shomron St. was sold for NIS 1.31 million. A 90-sq.m., four-room, second-floor apartment on Vitkin St. in Ahuza was sold for NIS 1.47 million (Re/MAX/City).

Beersheva and the south
Beersheva: A 100-sq.m. four-room, third floor mini-penthouse apartment on Rachel Imenu St. in Nahal Ashan was sold for NIS 725,000. A 113-sq.m. four-room, second-floor apartment on Ha’arim Ha’teumot St. in Ramot was vsold for NIS 890,000.

Rentals
Tel Aviv and central region
Tel Aviv: A 50-sq.m., 2-room renovated apartment with parking was rented for NIS 4,000 per month (Anglo-Saxon).
Modi’in:A 150-sq.m., 5-room house with 100-sq.m. garden, storage room and two parking places was rented for NIS 5,800 per month (Anglo-Saxon).

Excellent time to buy your property in Israel

From the experts at Merril-Lynch…Israel housing market is strong!

Come be a part of it today. Contact us right away to find out about amazing properties in northern Israel, from studio apartments in the heart of the city to large villas, with zimmers, swimming pool and more tucked away in the quiet of the mountains.

For instance, here is a gorgeous brand new home in the beautiful community of Migdal, one of the most popular towns in the Galil. 300 sq meters of luxurious indoor living space on 400 sq meters of land, asking 3.5M shekels.

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The Bank of Israel will increase its intervention in the foreign currency market to prevent a further appreciation of the shekel, and Israel’s housing market is not showing signs of overheating, says Merrill Lynch in a new review today.”Karnit Flug was appointed as the next governor of the Bank of Israel, and we expect her to maintain Fischer-style monetary policy. The Bank of Israel is expected to keep rates low and purchase foreign currency,” says Merrill Lynch, “The housing market shows no signs of overheating.”

Merrill Lynch does not expect another interest rate cut to below 1%, and believes that the Bank of Israel will continue its purchases of dollars and an expansionist monetary policy. “The shekel is now at its 2008 high, confirming why the Bank of Israel is so reluctant to see further appreciation and will likely step up in reserves accumulation. The appreciation trend might be contained next year if the Bank of Israel takes more aggressive steps, in our view.” It adds that Nathan Sussman, whom Flug appointed to the Monetary Committee, supports her approach to monetary policy.

Merrill Lynch does not believe that that the Bank of Israel will implement restrictive capital control measures to prevent the shekel’s appreciation, such as were implemented by Brazil, Chile, Peru, Taiwan, South Korea, Turkey, and South Africa. However, it believes that the Bank of Israel will intervene in the foreign currency markets, because it estimates that each 1% appreciation of the shekel could lead to a 1.5-2.5% decrease in exports of goods, which account for 40% of Israel’s GDP.

Merrill Lynch devotes a large and interesting part of its survey to Israel’s real estate market, in view of the debate over the existence of a housing bubble. Merrill Lynch says unequivocally that Israel’s has no housing bubble, and compares Israel with other countries. The tables show that housing prices in Israel have not risen as much as in other countries, and that Israel’s mortgage market is safer than other mortgage markets.

“The housing market in Israel is not showing signs of overheating, in our view,” says Merrill Lynch. “Although housing prices increased by almost 80% since 2007, a bigger picture view shows that housing prices in Israel have lagged peer countries since 2000. Israel had a late start and still trails some countries.”

The takeoff in Israeli housing prices began in 2007, whereas the takeoff in the countries in the graph began in the early 2000s. In addition, while housing prices rose by 180-250% in Australia, the UK, South Korea, and other countries, prices in Israel rose by 80%.

Published by Globes [online], Israel business news – www.globes-online.com – on November 4, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013