Properties for sale in Israel
Buying a Property in Israel
Israel is a very small country. Sometimes, it is even difficult to find it on the map. However, Israel is a country with a rich history; its importance cannot be overestimated. Since the founding of the State of Israel in 1948, Jews from all over the world have been coming to live here. Due to low availability of suitable land and high demand, property prices are constantly growing. Considering the fact that around half of the country’s area is desert, the main population lives in the centre of the country, especially near the sea. Real estate is expensive in Israel. However, it does not stop people from dreaming of their own house or flat in the Holy Land. More and more people from all over the world consider buying a property here. Before making a decision, foreigners that would like to buy a property in Israel must be familiar with all regulations, taxes, and fees. Therefore, it is essential to consult with a lawyer or a realtor.
Ways to Find a House or a Flat
The easiest and the most common way to find a property for sale is the Internet. In the majority of cases, real estate listings include contacts of property agents. In Israel, real estate transactions are usually carried out via real estate agencies. Often, a buyer and seller do not even meet each other – the communication goes via an agency. In addition, it is worth looking through listings in newspapers and specialized magazines. Overall, you can find both residential and commercial real estate that meets your preferences in every part of Israel, be it in the Jerusalem District, the Northern District, or the Southern District.
If you are looking for a cheap house or flat, be ready to make efforts. It is difficult to find cheap property in the centre of Israel. Listed among 20 most expensive cities in the world, Tel Aviv is the Middle East most expensive city.
However, if you move from the centre of Tel Aviv to the other districts, you can find cheaper properties as well as different lifestyle.
Things to Pay Attention to
Homebuying in Israel can be rather complicated, especially for foreigners. Therefore, it is important to know about common pitfalls of house buying. You should take into account that, in addition to the price of the chosen property, you will have to pay some additional fees. The tax scheme may differ as it depends on the status of a buyer. An agent should be paid too.
Terms to Learn
It is important to learn basic legal information in order to feel comfortable in the real estate market.
Over 90% of the land in Israel is owned by the state. When you buy a property in Israel, you actually lease it for 49 or 98 years.
Each property should be registered in the Lands Registration Bureau (“Tabu”). Since the whole subject is very complicated, having a legal counsel is very important.
Nevertheless, difficulties do not stop foreigners from buying a house or an apartment in Israel. However, not every real estate agency is the best place to buy your future home. If you need professional assistance in getting a home in Israel, Ready Property can provide you with all the necessary services. Our agents can help you with renting, selling, letting, or investing in a property. We will conduct a local search to find the best options for you. For more details, contact us using the contact form on our website or simply call us at +972- 8-9721921.