Dear Clients & Friends, The Israeli Ministry of Finance has published a draft bill on January 13, 2022 seeking to amend existing law concerning real-estate taxation in Israel; should this bill go into effect, it will affect foreign residents holding real property in Israel. The first issue addressed in the draft bill relating to foreign residents concerns the tax exemption on the sale of single...
General
We know many of our friends and clients all over the world are going through an unbelievably difficult time and we pray and wish that everyone will be well and healthy very soon. In spite of these very challenging times for all of us, we are regrouping and readjusting to the new circumstances and helping ourselves and our dearly appreciated clientele. Many have reached out to us from different parts...
Did you realize that there are a few Ebus (electrical bus) lines swishing through Jerusalem? Personally I have seen them and have been dreaming of electric buses coming to Jerusalem for a looong time. I even spoke with the Mayor of Jerusalem Moshe Leon about it. He said it has nothing to do with the Municipality, it has to do with Egged. So Kudos to Egged that actually took the step forward and...
If you're one of the people that believe that sooner or later the prices will go down (I know a few), well, you might be right eventually and temporarily but probably not. Why? Did the prices go down during the Second Lebanon War in 2006? NO Did the prices go down during the Subprime Crisis in 2008? YES (for six months on luxury assets only) Did the prices go down during the Cast Lead...
Before you put your property on the market check the following points: - Do you have to pay Hetel Hashbacha? (zoning related) - Do you have to pay "Mas shevach" (personal status)?- Is all the surface you're are selling registered in Tabu (title) - If so do you know how much? The proper calculation of this taxes can be an eye-opening process and may even change your decision whether to sell...
The initiators and founders of the neighborhood were the heads of the General Gemach organization, which served as a charitable organization since 1870, under the leadership of Rabbi Shlomo Zalman Porush. In 1908, the heads of the organization, headed by Naftali Zvi Porush-Glickman (the son of Rabbi Shlomo Zalman Porush) and Shmuel Zanvil Spitzer, founded the "Sha'arei Hesed Company for Building Houses...
If you want to buy a property in TLV whether it's a small Pied-à-terre or a luxurious PH, this might be the right time for you. Why? Well, according to the OECD economic survey of Israel, published in March, limited real estate supply and strong demand are some of the reasons Israel’s housing prices are high and continue to rise. But, unlike they did up until 2016. Strong regulations...
Betterment tax (known also as “Capital Gains Tax” or “improvement tax”) is a tax levied on a real estate property seller, in accordance with the Land Taxation Law (betterment and purchase), 5723 – 1963. If you're planning to sell your home or property, you want to make sure you calculated all your costs before and have a better estimate of how much you'll be able to keep in your pocket...
Well, in general the last couple of decades have proven that buying property in Israel has been profitable in the middle and long term. Zooming in to today’s market what does the future have in store for us? The property market has been artificially chocked by tax increments and an obstacle ridden track for foreign buyers to bring their monies and invest. The Israeli market is going through...
