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.

Buy Affordable Property in Israel

Everyone I speak with is on a budget today. Understandable. Most buyers suffer sticker shock when they see the prices of properties in Israel. But, this is because they are focusing on the Center, places such as Yerushalayim, Ramat Beit Shemesh, Tel Aviv, Netanya, etc. But there is so much more to Eretz Yisrael! The north offers you opportunity to grow, to stretch your wings, to plant in the soil, to create your own business and fulfill your dreams. Plus, the prices are affordable. The real estate market is very strong in the north and housing prices are on the rise here too, but you can still buy a great home in Israel without busting the bank. Here is a great example.

This apartment is located in Tveria (Tiberias), the Holy city located on the shores of the Kineret (Sea of Galilee). The apartment is located in the upper neighborhood of the city, where you can benefit from cooler air, a real plus in the summer! The neighborhood is much desired, especially by young couples moving out from the Center. It is filled with synagogues, yeshivot, schools, health clinics, and shopping. The apartment building is only a few minutes walk from a major grocery store. Bus transportation is nearby, ready to whisk you to any destination in the city, or outside of Tveria. The building is set away from the main street, in a park-like setting, giving you a bit of space and quiet. There are awesome views of Har Tavor from the enclosed balcony and bedrooms. The apartment is modestly renovated, clean and in good condition. All you need to do is sign the contract, pay the seller and move in! Or, if you are not ready yet to live in Israel, then we can help you find a good tenant.

All of this for only 370,000 shekels! It doesn’t get much better than this.

Contact galilproperties@gmail.com right away for more information.

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Buy This Affordable Home in Tiberias, in the Galilee, Israel

Prices are on the rise all across Israel, and Tiberias is no exception. This beautiful city, one of the four Holy Cities of Israel, sitting on the shores of the gorgeous Kineret (Sea of Galilee) is expanding and modernizing and becoming a hub of residential, commercial and innovator activity. Olim, investors and Israelis from the Center are drawn to the easy lifestyle, stunning views and ease of transportation that the city has to offer. Everywhere one looks there are cranes dotting the skyline, signaling yet another new residential project. All of this increase in attention, population and desire means higher prices. So, when an apartment like this comes on the market, one would be very wise to grab it!

This four-room, 110 sq meter apartment is in excellent condition, ready to move in or rent out. Located in mid-Tveria, the apartment is surrounded by synagogues, schools, small grocery stores, and public transportation. A short walk away is the mid-Tveria commercial sector, where you will find restaurants, specialty shops, public library and the community theater. Health clinics are also nearby. The apartment has a master bedroom, a second full bath and half bath, large salon and kitchen and awesome views of the Kineret and mountains of the Golan. At 475,000 NIS, it is a steal! Hot on the market, it will not last long. Contact us today to arrange a viewing.

Build Your Home in Israel

800px-Dover_tverya17Dreaming of building your own home in the Holy Land?

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 galilproperties@gmail.com for more details.

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).

Buy Affordable Properties in Tiberias, Israel

The housing market in northern Israel is strong, evidenced by sales and rising prices. For new residents, and savvy investors, northern Israel is THE best place to plant your family or savings. However, as with all things, there is the time to catch the wave and the time to miss it. From just a few years ago, prices for some properties in Tiberias for instance, have doubled. So, if you are looking to make a purchase with a small budget, there is no better time than the present, and this present time will never come again. There is no evidence of any downturn or slowing of the market in this sector of the country, especially as Israel continues to face a housing shortage.

Here is a new listing in Tiberia, as an example of a good buy with limited resources. The apartment consists of 2 bedrooms, salon, dining area, balcony and full bathroom. It is completely upgraded with new, porcelain ceramic tile floor in kitchen, dining and salon, and wood flooring in the bedrooms. The stovetop is built into the counter, and when you buy the apartment you also receive all the furniture, appliances and furnishings!  The building is located directly across from beaches, and within an easy, enjoyable 5 minute stroll from the heart of the city and all the other amenities. The apartment is currently rented, until spring, so it is perfect for an investor or someone looking to secure a home now for aliyah later. The building has 24-hr security, parking, Shabbat elevators, minyan in the lobby, exercise room, and more. Only 390,000 shekels, or, at today’s exchange rate, just a little more than $100,000 USD.

Stay in touch with our blog and contact us for more information on other great saving opportunities.