In This Edition
- Welcome
- Featured Article - New Trends in Israeli Real Estate
- Legal Vocabulary – 'Ribit Kvua' and Ribit Mishtana'
- Tip of the Month – Using a Mortgage Broker
- Subscription Information
- For Further Information
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Welcome to Israel Real Estate Law Insights
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Welcome to the latest issue of the Israel Real Estate Law Insights, published by Nicole Levin Law Offices, experts in all aspects of real estate law in Israel. You are receiving this newsletter because you signed up for it on our website or because you filled out a form at a housing fair. Our newsletter focuses on the legal aspects of buying, selling and renting property in Israel.
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New Trends in Israeli Real Estate
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The past few years have seen a lot of changes on the Israeli Real Estate scene. Economic catastrophes elsewhere in the world have acted as catalysts for change in the mindset of Israelis, the government and lawmakers. Some of these changes will be fleeting but many are here to stay. Most changes have brought improvements, but the jury is still out on the benefits of others. Here are some of the changes:
- Purchase Tax: Purchase tax is a tax paid by purchasers when buying an apartment. In the last two years purchase tax for Israelis has been lowered. In fact, it has been lowered so much that purchasers of cheap apartments often get away with paying no purchase tax at all. In some instances it doesn’t pay for an oleh to ask for the partial exemption from purchase tax.
In the past, anyone purchasing a second or additional apartment paid a higher rate of purchase tax than those owning only one apartment. The purchase tax for buyers in this situation has been raised even higher over the past two years.
Foreign residents also used to pay a higher rate purchase tax...
Read the complete article on our website.
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Legal Vocabulary
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"Ribit Kvua" - Fixed interest rate. The interest rate stays the same and does not change even though interest rates have been raised or lowered in the market.
"Ribit Mishtana" - variable interest rate. This is when the interest rate fluctuates.
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Tip of the Month
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If you are thinking of taking a mortgage or refinancing it is a good idea to consult with a mortgage broker. Since mortgage brokers bring banks many customers they are able to get better conditions than the average customer. This translates into many thousands of shekels saved over the life of a mortgage.
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Subscription Information
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For Further Information
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Additional information can be found at:
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Further interesting articles can be found at:
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Previous newsletters can be found at:
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