Home Prices in Tiberias on the Rise

tveria_03_A4Northern Israel is still the best place to buy property in Israel, and Tiberias (Tveria) is no exception. Like all of Israel, though, prices are on the rise. Private home or cottage properties can rarely be found for less than 1M shekels. New apartments begin around 860,000 nis and go to over 1M shekels. You can still find bargains. Here is the latest report on sales from the Tveria tax office. These are “sale” prices, not listing prices. Consider these levels when you are looking to buy property in Tveria, Israel.

  • avg price 3 rooms second hand: 434,000
  • avg price 3 rooms new: 683,000
  • avg price 4 rooms second hand: 666,000
  • avg price 4 rooms new: 927,000
  • avg price 5 rooms second hand: 823,000
  • avg price 5 rooms new: 1.12M

Israel Real Estate Prices Back on the Rise

Buying property in Israel?

The price lull is over, so now is the time to buy your property in Israel.

Many potential home buyers sat out for a while, waiting for the proposed 0% VAT proposal to become law, but since it failed to materialize, at least for now, properties are once again flying off the market. This means that it is again a seller’s market, prompting savvy home buyers to move forward with their plans to buy an apartment in Israel or any other residential real estate.

According to a February 18, 2015 Globes report, apartment sales increased by 22% in the 4th quarter of 2014, for a total of 8,200 new apartments, the highest amount since 2002. However, this spurt in sales was not experienced in Tel Aviv or Jerusalem, but in periphery locations.

Northern Israel continues to be the best place to plant your capital, whether it be buying a home for living or investment. The prices are going up, as is the case all over Israel, but in the Northern Israel real estate market, you can still find a good deal.

Consider this one:

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Private house
140 sq meters
2 gardens
2 terraces
3 bedrooms, 2 full bathrooms
minutes from the Kinneret (Sea of Galilee) and city center
surrounded by synagogues
in one of the most desired neighborhoods of Tiberias

only 900,000 NIS

In the center, this house would be at least three times as much. Contact us today to find out more about this property and other outstanding real estate deals in northern Israel.

Yet another reason to buy property in Tiberias or reserve your vacation home in Tiberias

http://israel21c.org/travel/12-cool-things-to-do-in-tiberias-for-free/?utm_source=Newsletter+10%2F23%2F2013&utm_campaign=October+16%2C+2013&utm_medium=email

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Come and make your new home in the Crown Jewel of the Galil, on the shores of the stunning Kinneret, where every view is breathtaking. Morning sunrises, afternoon sunsets, water, mountains, city, life… you can’t do much better.

See you soon.

Israel Real Estate Homes and Investments

Why you need a good translator before you sign any contracts

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If you purchase or rent an apartment in Israel, it is almost certain that the contract or lease will be in Hebrew. Running it through google translate, or relying upon the agent to translate the document for you is not a good idea. As the article below discusses, the nuances of the language may escape a translator who is not well versed in the legal jargon utilized in the lease or contract. Thank you very much Brocha Speyer for sharing this with us.

Navigating the Labyrinth of Hebrew Contracts

Or: the Role of the Legal Translation Specialist

Way back in 2009, while waiting for a ride to WritePoint’s bi-weekly translation course – armed with an impressive-looking yellow folder bulging with course material – I bumped into a well-meaning neighbor, who wanted to know what it was that I was studying. When I replied that I was attending a translation course, she heartily chuckled, “You mean, today they have to teach even that?”

To this day I continue to wonder how that good-old-neighbor would fare if she were thrust into the sea of translation and left to fend for herself. I like to think that she would manage to keep herself afloat…but it’s hard to imagine that she wouldn’t reconsider the value of translation instruction.

Contrary to popular belief, speaking two languages is not synonymous with inborn translation prowess. Translation of any sort is a complex task, and legal translation presents its own unique set of challenges.

For starters, what do you do when faced with a word that could mean ten different things (poly-semantic phrases) –especially where several of the definitions differ from each other only subtly? If fate deemed you a muggle, devoid of any mind-reading abilities, how are you realistically expected to guess what the author had in mind?

Take the Hebrew word ishur for example. It is an integral component of any legal document and could mean anything from confirmation, endorsement, approval, okay, sanction, verification, and imprimatur, to acknowledgment, averment, certificate, certification or authorization. So… is the contract’s Party A expected to obtain acknowledgement, approval or confirmation? The list of possible translations does share a common thread – yes, but I do not recommend using the word “sanction” where it should be “certificate.” Translators had better have a thorough understanding of the subject matter at hand if they are to consistently opt for the right word at the right time.

Now think of the Hebrew word lezakot. The dictionary offers a nice list of possible translations – to acquit, to grant (right, privilege, favor etc.), to credit, and to provide. So when a legal translator is confronted with the unfamiliar term “dira mezaka” – what sort of apartment should come to mind? An apartment that sits in judgment and rules clemently, perhaps? One that grants favors to anyone fortunate enough to cross its threshold? Or maybe it’s an apartment that sells you things on credit. How is the innocent translator to guess that it is not a bewitched dwelling the contract is referring to, but merely a tax-exempt one?  You’ve gotta know the lingo.

Of course, there are always going to be those faux amis (deceptive cognates) that will go to any length to throw you off track. When the unsuspecting translator heaves that well-earned sigh of relief – finally, a non-brainer, same in both languages – his translation is actually in a state of unprecedented danger.  Heaven forbid to render the Hebrew word director as director! You can be sure that the company’s director will not appreciate your confusing him with a mere board member, thank you very much.

And those old spelling woes will come back to plague us here as well. C’mon, breathe easy, you say. If we can’t trust Microsoft for its good old spell-check then whatever can we trust it for? But in the legal translation industry, confusing borne with born, or insure with ensure, for that matter, simply will  not do.

Then there’s the grammar. Did you ever think you would be revisiting Miss Green’s  tenth grade English class twenty years down the line? I assure you: when you tackle that first Hebrew contract you’ll be longing for the day that she conquers the world and forces her outdated laws upon all of its inhabitants. I mean, even that dreary prospect beats spending your days trying to identify the main verb of a sentence that runs on for five pages straight…and why is it that texts sent in for translation always seem to have been written by the most non-linguistically-inclined people on the planet? Not to mention the fact that in Hebrew, it is actually legal to structure a conditional sentence as though it were a past statement…

One last point for now: A Hebrew-English legal translator cannot get by merely with legal proficiency and linguistic know-how. Since Hebrew legal documents are generously interspersed with Talmudic phrases, legal translators without Talmudic background will have to to either take a crash course in ancient Aramaic or else make sure they’re on close terms with their local rabbis. And don’t forget the local Latin professor either – did you ever notice the percentage of pompous Latin phrases traditionally comprising English legal documents? Omnia dicta fortiora si dicta Latina, after all.

So basically, in sum, legal translation is serious business. You are finally realizing your dream and purchasing that property in Israel – do yourself the favor of doing it right!

Check out our website at:  http://hebrewcontract.com/our-service/

 

 

Invest in the strong Israeli economy – invest in real estate!

The latest from Invest in Israel:

The world’s three largest rating agencies, Moody’s, Fitch, and Standard & Poor’s, in a vote of confidence in the Israeli economy, maintained a high credit rating for Israel at a time when the economy’s resilience was put to the test by both global financial pressures resulting from the credit crisis and geopolitical conflict. While Israel was not immune to the effects of the global credit crunch, as its main trading partners were hit by the crisis, the country’s sound macroeconomic fundamentals and strict fiscal policy served as a buffer to dampen the impact of financial wobbles.

As a consequence of the macroeconomic strategy that Israel had adopted during the last two decades, together with the relatively conservative approach that was undertaken by the Israeli banking sector and the regulation carried out by the supervisor of banks, the Israeli economy was relatively well prepared to confront the challenges of the global crisis, including the prospects for economic slowdown. Though the crisis continues to loom from nearby Europe and a consequential slowdown might reflect on Israel through its trade ties, Israel’s comparatively strong economic performance throughout the crisis vouches for its ability to continue to withstand any further financial pressures.

The Israeli policy of removing barriers to trade in goods and to open capital movements has served the economy extremely well.  Israel is committed to openness as a strategic approach, while recognizing the importance of financial sector regulation.  The adoption of this strategy contributed significantly to Israel’s economic growth and its increased economic efficiency.

Israel Real Estate Homes and Investments, located in the north of Israel, has a large portfolio of real estate properties, for both living and investment. For much less money than is needed to make a purchase in Jerusalem, Tel Aviv, Haifa or along the coast, you can find an affordable home or an investment property that will yield you at least 8% returns. Here are three options for you. Contact us for more choices and information

81 sq meter, 2d floor, 3 room, completely renovated apartment, located at the end of a very quiet street, with nothing but peace and tranquility to surround you. This is a very affordable apartment for living if you are looking for a new home in Israel. For the savvy investor, this is an outstanding investment. Rent for the apartment will be between 2300-2400 NIS per month and tenant pays all the bills, including city tax. The apartment is brand new inside, with new porcelain tile floors, new kitchen, new bathroom, new plumbing, new sewage pipes, and is freshly painted and in meticulous condition. You or your tenants can move in immediately, no need to do a thing! The apartment building has a very spacious and well-kept lobby and the entrance is lined with tropical trees and plants. The apartment is being offered at a bargain price of only NIS 510,000 (final price)

This is the best investment property! Already rented for one full year, beginning November 2011. The apartment is 78 sq meters, furnished and just steps from the kever of Rabbi Akiva, high up on a hill in Tiberias. Located on the 1st floor, with 3 rooms and beautifully designed, this apartment will bring you a great return on your investment. The apartment was completely renovated, with new kitchen, bathroom, porcelain floors, gorgeous wood trip around all the doors, new water pipes and plumbing. For the price of NIS 445,000 you will not find anything better in all of Israel.

All the benefits of a private house without all the work! This is a ground floor apartment, 74 sq meters, in a new building and is the perfect choice for a growing family looking for an apartment that can be expanded, or for the real estate investor looking for a good investment. This apartment can rent for between NIS 2600-2700 per month. The location is very quiet and the building is very well maintained. The apartment is wonderfully designed, with a special stone-finished wall to greet you upon your entrance into the home. The wall is designed with built-in shelves and alcoves to hold your TV, stereo system, books and other furnishings. The salon is very comfortable and the dining room was enlarged to make plenty of room for a large table. The kitchen is attractive and designed for efficiency, leading to an ample laundry and storage room. This is a great apartment, in a perfect location of the city, near to synagogues and many amenities. It is offered at only NIS 550,000 – an outstanding investment or living opportunity.

Earn more money here and save taxes too!

From Globes Real Estate

Accounting firm Baker Tilly reports that Israelis pay lower taxes on real estate deals compared with other countries.

The taxes examined are purchase tax paid on purchase of a property, tax on rental (by maximum tax bracket), and capital gains tax on the sale of a property. Israel was compared with Canada, Australia, Spain, Russia, the US, France and Japan.

Landlords can draw encouragement from the fact that Israel has the lowest tax of any country examined. Israel is somewhere in the middle on capital gains tax; tax rates (on second hand apartments) are higher than in Spain, the US and France but lower than the tax paid on the same apartment in Canada, Australia, Russia and Japan.

Baker Tilly Israel partner and tax manager Guy Reshtick said, “Tax in Israel is not as high as people think. Taxes are high in Israel but in matters relating to real estate tax, our situation is improving. There have been changes over the years that have lowered the sums required from apartment sellers and buyers. For example, betterment tax that in the past amounted to 50% of capital gains fell to 20% a decade ago – and that is a direct profit for apartment sellers.”

He added, “And here too apartment sellers are given a complete exemption from betterment tax on the sale of an apartment once in every four years.

Here is one great example of an outstanding real estate investment. But, don’t hestitate for another second!

Make a BIG Investment with a little money!

We’ve been away from blogging for a little while, but not because there hasn’t been anything to write about. It has been very busy around here lately. Lots of investors have been seizing the great opportunities for outstanding investment returns. Eight studio apartments in the heart of downtown Tiberias were snapped up in just a couple of weeks. Many overseas buyers are looking for new homes or great investments in this northern area of Israel, where the prices are very affordable. And, we had lots of visitors throughout the summer and holidays, enjoying our beautiful vacation homes. Now, the weather has cooled a little bit, but the real estate market is still very hot. It is the best time to find your new home in Israel or to snap up that investment property, sure to bring you at least an 8 percent return.