Rising Home Prices in the Center – Buy Your Home in Northern Israel

11/25/12 The Yeshiva World The Rising Price of an Apartment in Yerushalayim

The Rising Price of an Apartment in Yerushalayim

(Saturday, November 24th, 2012)

The Marker released a study addressing the rising prices of apartments in the capital. The prices listed below refer to 2 bedroom apartments at the addresses listed.

An apartment at 17 Shaul Avigor Street sold in 2007 for 916,000 NIS and today, a comparable apartment sold for 1.02 million NIS, an increase of 17% in 5 years.

An apartment at 16 Lincoln Street sold in 1999 for 847,000 NIS and today, a comparable sold for 1.9 million NIS, a 225% increase in 13 years.

An apartment at 19 King David Street sold in 2001 for 915,000 NIS and today, a comparable unit sold for 2.5 million NIS, an increase of 300% in a decade.

An apartment at 10 Columbia Street sold for 355,000 NIS in 2004. Today, a comparable apartment in the building sold for 765,000 NIS, a 215% increase in under a decade.

(YWN – Israel Desk, Jerusalem)

3-bedroom apartment, 150 sq meter apartment, only NIS 600,000.

2-bedroom apartment in new building, right across the street from the beaches of the Kinneret, only NIS 480,000

4-bedroom, city center, walk to the Old City of Safed, only NIS 850,000

You don’t need a million shekels for a 2-bedroom apartment in northern communities, Make Northern Israel Your Home

It’s not just us telling you the market is great in Israel!!

Israel world’s third hottest real estate market
CNBC places Israel third behind China and Hong Kong on five year home price rises despite a reported 1.2% fall in 2011.
Einat Paz-Frankel 23 Apr 12 18:17
Despite the affordable housing protests, Israel is holding on to its spot as the third-hottest housing market in the world according to a survey by CNBC, based on data from real estate agents Knight Frank. The survey found that house prices in Israel jumped more than 21% in 2009 and16% in 2010.Israel was placed third with 5 year growth of 54.5% beating Singapore into fourth place with five year growth of 50.5% but well behind China in top spot with five year growth of 110.9% and Hong Kong in second place with growth of 93.7%.

CNBC noted, “High home prices in Israel led to a series of protests in 2011 with demonstrators asking the government to intervene to cool the market. Thousands of protesters made headlines last July to voice concerns over a housing shortage and high rentals. The demonstrations seem to have had an effect on property prices, which fell 1.2% in 2011, according to Knight Frank.”

But CNBC sees home prices rebounding saying, “However, after an interest rate cut from 3.25% to 2.5%in February, there appears to be resurgence in property demand, with new mortgages issued by banks jumping by more than 14% in March compared to the two pervious months.”

Published by Globes, Israel business news – www.globes-online.com – on April 23, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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.

You will never believe this is an apartment– it feels like a villa!

This apartment is amazing… it looks like a movie set. You will not believe the amount of work and money that has been invested into this gorgeous home. The beauty begins as soon as you come to the entrance of the apartment, when you see the beautifully laid brick-facing and gorgeous stones at the entrance. Once inside, the luxury continues to envelop you—it will be a home of your dreams. This garden apartment spans two floors and each rooms blends seamlessly with the next giving you the feeling of floating, especially when you see the clear, blue waters of the Kinneret in front of you. 200 sq meters, 5 rooms, plus a 60 sq meter mirpeset. All the rooms are enormous, including the kitchen which is three times the size of the usual kitchen here in Israel. The floors throughout the house are of special, imported tile. The salon and dining room is large enough for all the family and guests. The mirpeset here is the perfect place to relax and watch the magnificent sunrise over the Kinneret and also you can watch the city as it awakens each day. Up the stairs, graced by a beautiful wrought-iron railing, you will find a full bathroom with shower, 2 bedrooms, one with a view to the Kinneret, and the master bedroom with a very large, walk-in closet and an exit to the upstairs mirpeset. And, if this is not enough, the owners have constructed an enormous succah, with painted stone walls and plenty of space to invite all the neighbors! PLUS, there is a studio apartment, perfect for renting out or as a place for the in-laws. This apartment must be seen to believe. You will not imagine that you can find such a jewel in this growing city of Tveria. NIS 1,080,000  To learn more, contact us.

Israel Mortgage rate update from First Israel Mortgage

Israel Mortgage Rate Update 08/16/2011 By: First Israel Mortgage

For those borrowers looking for US Dollar based loans, LIBOR loans are now available for foreigners as low as LIBOR+1.8% on the ENTIRE loan amount. Being able to take the entirety of the loan in a variable rate represents a tremendous benefit, as most lenders are unable to provide more than 1/3 of the loan in a variable rate. This option is available up to 70% of the value of the property, albeit with a slightly higher rate. The 5-year USD fixed rate (up to a 25 year term) is available at 3.6%. This option provides a great deal of security as it allows borrowers to fix this rate for 5 years. During the last few weeks, rates on shekel loans have been dropping quickly. The most attractive rates on the market in NIS are currently in the range of 5.4-5.8% fixed for 20 years. 30 year fixed rates are in the 6.2%-6.7% range. For clients interested in Prime loans, Prime-1.0% remains the sharpest rate on the market. For more information, call 972-2-567-1349 to speak with one of First Israel’s qualified mortgage consultants.

THE US DOLLAR IS UP!!!

Now is a great time to make your investment in real estate in Israel. And you won’t find a better investment than this apartment, just steps from the Kever of Rabbi Akiva in Tiberias. This 3 room 78 sq meter apartment has been completely renovated– everything is new! The floors are beautiful, kitchen is beautiful, bathroom is beautiful, lighting fixtures are beautiful and it is furnished! People are already lining up to rent it. But, of course, if you want to live it in, that would be great too. Today, the price is only NIS 445,000 or only $129,000. Forex Israel can help you lock in this great exchange rate. So contact us today and don’t miss out on this great buy.