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NEW TAX INCENTIVE FOR BUYING A
PROPERTY IN ISRAEL.
A new scale of purchase tax (stamp duty) has
been introduced for the purchase of apartments in Israel.
As of 2nd May 2008 first time apartment buyers have the following purchase
tax scales:
Apartments priced up to 907,700 shekels will be zero rated.
3.5% purchase tax will apply on a figure between 907,700 to 1,275,690
shekels.
5% will apply above 1,275,690 shekels.
People buying more than one apartment will pay 5% on all properties after
the first purchase.
2008 – A Great Year for Israel!
2007 was a tremendous property year in Israel with overseas buyers,
led by British and French investors, soaking up the majority of prime
location properties.
This buying demand has been so great that Israeli bureaucracy, in the form
of local and regional planning committees, has lagged behind the huge desire
to own a property in Israel.
This translates to the fact that builders are not able to offer new projects
as they wait for planning approval.
The result leaves many investors searching for a limited number of luxury
prime properties.
We ended 2007 with more buyers than properties in certain key locations.
We, at NETANYA REAL ESTATE, anticipate receiving a couple of exceptional new
residential apartment projects in SOUTH BEACH during the early part of 2008.
We are giving a lot of consultancy service to the builders who wish to
tailor their projects to suit the needs of our British clients, many of whom
are waiting to receive details.
This gives us great confidence that we will completely sell all the
apartments in these luxury projects within a very short period of time.
The first new project of merit in 2008 is ROYAL SOUTH BEACH.
This is an architecturally stunning building that offers apartments with
considerably larger internal space than previous projects. The outside space
can be described as terraces, rather than balconies, as they are in excess
of thirty square metres – three times larger than most apartment balconies !
ROYAL SOUTH BEACH will have a large residents swimming pool, which has been
situated on the south, and west side of the plot for maximum sunlight –as
demanded by our discerning clients. There will also be a gym in the
building.
ROYAL SOUTH BEACH is located directly in front of a new synagogue. There are
tennis courts in front of the building, and the Argaman beach is three
hundred yards from the building.
Barry Shaw of NETANYA REAL ESTATE has identified a prime plot of land in
SOUTH BEACH that is designated for construction of a new synagogue. He has
negotiated with the Netanya Municipality for them to donate the land if
people can be found to finance the construction and maintain a new synagogue
in South Beach.
Barry is confident that, with so many affluent and religious-minded property
owners in South Beach from the UK and USA, that it should easily be possible
to raise the funds to construct and maintain a beautiful, and desirable,
South Beach synagogue.
The erection of such a synagogue will add impetus to the already heavy
demand for high quality apartments, penthouses, and houses near the beach in
this locality.
IR YAMIM (SEA CITY) by the Poleg beach also had a successful year in 2007.
Here, however, one needs to be ultra cautious if it is important for you to
own a sea view property.
With so much construction under way in Ir Yamim there has been a tendency
for sales people to promote projects that will be obstructed by future
developments.
We strongly advise you to consult with NETANYA REAL ESTATE before venturing
into Ir Yamim.
We have assisted a number of UK buyers with excellent purchases of
apartments and houses in HERZLIA PITUACH.
The lack of apartment buildings has led to a huge leap in prices for any
resales that come on to the market. Although some buyers have turned to
South Beach, where they have found superior properties at a third of the
price, many still insist on having a property in Herzlia Pituach.
With a regular flow of buyers, we have our ear to the ground in Herzlia
Pituach and can offer some of the best deals available.
We have a large and active Property Management service to take care of all
aspects of property ownership in Israel. This takes an enormous strain off
the shoulders of our overseas owners.
We also have a busy section handling redesign, renovations, and repair of
prime properties.
Contact us at NETANYA REAL ESTATE if you are experiencing any problems or
concerns with your property in Israel.
An increasing number of visitors make their initial visit to Israel by
renting one of our privately owned apartments for their vacation use.
We only rent the properties of our clients who wish for us to find quality
short-term tenants. Many of our rental properties have kosher kitchens and
Shabbat elevators.
With Israel celebrating its 60th Anniversary this year 2008 promises to be a
wonderful period for the local economy and Israeli real estate.
You can help build Israel by investing in a property here and guarantee
yourself a warm home in Israel.
Whatever your property need in Israel, NET REAL ESTATE - ISRAEL is ready to
help you. We will do our best to guide you to the better properties by using
our best service.
Enjoy our website! We, and Israel, are waiting for you!
Artists impression of
South Beach promenade
SOUTH BEACH has become the most
popular destination for British property buyers.
New projects, recommended to our clients by Netanya Real Estate, have fully
sold out (even prior to start of construction) to our discerning UK clients.
The infrastructure of a new area is the vital lifeblood, giving tone and
style to the locality.
The above picture, showing part of the South Beach promenade, will give you
an impression of the ambience of the commercial heart of South Beach.
For the latest details of current and upcoming projects in South Beach
contact Netanya Real Estate today.
Enquire Now
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SOUTH BEACH
The British are coming!
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