Israel Real Estate
How Much does a House in Israel Cost?
I am often asked how much does an apartment in Israel cost?
My friends and American clients ask me if there is a place where you can find out how much an apartment in Israel costs?
Surprising as it may be, it is possible to get a general idea, at least an indication of how much a house cost.
I will concentrate on the major cities of Tel Aviv and Jerusalem to answer this question.
Hi, and welcome to Investment in Israel Real Estate site.
I’m very happy to introduce myself. I’m Aaron Volk, an American-Israeli residential real estate agent who has been in the business for 25 years.
I am an attorney who specializes and deals exclusively in residential real estate.
I have represented hundreds of residents of the United States, Britain, and France in purchasing homes in Israel.
The internet is a great resource to get a number of unofficial price lists.
I recommend the following sites in order to get a general idea of real estate prices in Israel.
The second source is the price list of veteran appraiser Levi Yitzhak.
He has been publishing price lists for decades on vehicles and also on house prices in Israel.
That’s how you could find Israel real estate.
A more professional source is the ‘Madlan‘ website which is a kind of analysis of transactions like MLS in the United States.
But here it is necessary to be a subscriber and understand how to analyze the information.
The last and official source is from the Tax Authority.
On this site you can specifically check transactions made in Israel and analyze the prices.
But even here some advanced knowledge is needed in order to know how to enter the data and get the results.
Is Investing in Real Estate in Israel a Good Idea ?
Israel real estate
Another question that I have been asked for many, many years: Is it worth investing in real estate in Israel?
To be clear about it the answer to the question is definitely, yes.
In one sentence – investing in real estate in Israel, is winwin.
You can only make a profit. In contrast to the United States, real estate in Israel is very limited. Too limited.
Every year there is an increasing shortage of apartments.
For decades, actually from 1990 onwards, there has been a growing gap between supply and demand.
Currently tens of thousands of apartments are missing to meet demand.
Even if you buy the cheapest Israel real estate its value will increase moderately but consistently over the years.
Cheapest real estate in Israel
Anyone who wants to buy cheap land for sale in Israel in cities such as Tel Aviv or Jerusalem, real estate north Israel or any other place, should be careful.
As in the United States – Israel real estate is subject to zoning laws which defines what can be built on land.
But in Israel the national trend is to buy agricultural land that is sure to be released for construction.
Oftentimes we are talking about wishful thinking.
It’s usually based on dreams and you need to be very careful.
Part of the land will never be released for construction, some will be released but heavy taxes will have to be paid, and some plots are too small to be useful, so even if they are released for construction, it is not practically possible to build on them.
In any case, it is important to know the rules and know what the seller must provide for you in case he sells you agricultural land. The law is strict and protects the buyer, after many scams were discovered in the sale of cheap agricultural land for sale in Israel.
The same has to do with Israel real estate.
Property for sale in Israel
I am an Israeli American and I am well acquainted with the terms pertaining to the real estate world in both Israel and the United States.
I have licenses to engage in real estate in both Israel and the United States.
Israel real estate is my professional.
Here, I want to explain that the term property or land of sale in Israel in Hebrew means the words real estate or ownership of land.
However, when an American says apartment then that American knows a large number of possibilities in the United States, flats and other options.
In Israel, when the Israeli says ‘apartment’ or ‘house’ in Hebrew, there is no legal difference between them.
They can be legally identical. But an apartment is usually an apartment in a building.
And a house is a private house built on a separate plot of land it is extremely important when looking for israel real estate for sale.
In general, there is no legal difference between the different apartments. There are not as many types of apartments as there are in the United States. But usually, an apartment is a housing unit in a shared house.
The main difference between this or that apartment is precisely when it comes to the agreement between the tenants which is called the common house rules.
Homes for Sale in Israel
Anyone who wants to know where to look for properties for sale in Israel should know the main places where you can find homes for sale in Tel Aviv, Jerusalem, Natanya or any other place in Israel real estate.
First you should look for realtors. Although, most transactions in Israel are not carried out by real estate agents. It’s a shame but it’s the truth. In the United States the vast majority of real estate transactions are carried out by realtors. But in Israel unfortunately not.
By the way, a broker is called an agent in Israel. And there is no difference between realtor, salesperson, broker or agent; they’re all the same.
One should also distinguish between new apartments sold by contractors and second-hand apartments. Contractors like to advertise the Israel apartments for sale themselves. The contractors in Israel sell the apartments when the apartments have not yet been built and can be found only in blue print. The law is very clear and rigid and protects customers and buyers. For example, contractors are not allowed to receive more than 7% of the value of the apartment. The contractors receive the money slowly – as its construction progresses. The local banks lend to and supervise the contractors and give the buyers guarantees for the money the buyers paid for the purchase of the apartments.
I would suggest buyers look for apartments with realtors who are part of a large and international real estate chain. Such as Anglo Saxon, Remax or eXp. I for example personally belong to and form part of the eXp company.
Of course, Facebook, and the Internet in general, are a great source for finding apartments for sale in Israel. The ‘Yad2’ website and the ‘win win ‘ website are the most popular sites in Israel.
Israel apartments for sale
When you are looking for an apartments for Sale in Israel you always want to be given the relevant information in the clearest, most concise and accessible format.
This information includes the property’s floor area, which floor it’s on, neighborhood, directions, building services and more.
Israel real estate for sale
Residential, commotional, land and more.
However the more common deals in Israel are for residential.
One can find information about residential properties by brokers, by yas2.co.il, winwin.co.il and other internet sites.
Cheap land for sale in Israel
first you should make sure you can own the land by the Tabu - the Land Registry.
If you decide to buy land in The West Bank (Shtachem), so be sure From a legal point of view, that the land is registered in the offices of the Civil Administration.