There are many factors involved in buying apartments and offices: as a citizen or a foreigner, chosen location, taxes, legal fees, mortgage rates and more. In this matter, it is best to work with experts who can help you sort out the details of your particular circumstances.
We help foreigners and citizens of Israel to purchase a new home or office in the cities: Netanya, Herzliya, Holon, Hadera, Rishon LeZion, Caesarea. We partner with leading market leaders and innovative interior designers to not only help you get your new home, but also be proud of the investment. For us, the desire of the client is inviolable.
Stages of selling apartments and offices in Israel
This process differs in many ways from real estate sales taking place in other countries. Consider the main features:
1. Negotiations. In Israel, sellers are always ready to bargain. This is different from buying property in other parts of the world. Study the cost of similar apartments, compared to one you planned to buy, and boldly negotiate the price.
2. Mortgage, mashant. The mortgage you receive may vary depending on your bank, financial history, and income. It’s usually much lower here compared to other countries. You’ll have to pay a significant amount as a down payment. We’ll advise on many issues, including the reduction of mashkants for real estate.
3. Tax payments. Be aware of the numerous property taxes. For example, Mas Rechisa is a property tax that varies significantly depending on the value of your apartment. It must also be paid within the first 50 days of signing the contract.
Other taxes include Arnona (city tax) and Vaad Bayit (building or property tax). Depending on where you live, these costs may also vary. Please note that if you plan to rent out your property, these costs are the responsibility of the tenant.
4. Other fees. If you buy property from a cablan (intermediary), you need to pay approximately 1.5% of the developer’s value. Our real estate lawyer will help you understand all the contractual details. There may also be a number of other fees to consider: property inspection costs, foreign currency transfer fees, land ownership, and homeowners insurance.
Main types of real estate
There are four main types of residential property in Israel:
- flat;
- cottage – more than one floor, connected to another building, with a separate entrance;
- villa – a house with an adjacent territory;
- penthouse – top floor with roof terrace.
ASR Service Real Estate will help you realize the dream of your own home and choose a worthy option. Contact us by clicking on the link and a team of experts will be happy to help in the sale or purchase of real estate.
