Real Estate in Israel

Israel’s property market has seen prices skyrocket in recently. According to the Israel Builders Association, the expansion of the property market is primarily attributed to the growing economy. Expats who wish to relocate in the country are offered a wide range of options in key cities such as Tel Aviv, Jerusalem and Haifa. It is important for expats to note that due to the conflict that Israel is going through, certain areas may be unsafe. Rockets have been fired in Jerusalem, Tel Aviv and Hadera, and expats looking for property in those areas will need to be very careful.

Here are some key points in buying a property in Israel: 

Both buyers and sellers must be accompanied by lawyers. Buyers are liable for legal fees such as purchase tax. It will also help to seek the assistance of a real estate agent who will help in completing necessary documents. Property buyers are required to fill-out forms required by Israel’s estate law. Real estate agents may be contacted through websites such as the following: 

Lagur

Lagur, an online real estate portal, has been operational since 2004. The real-estate website targets the foreign resident market and has an elaborate list of properties for lease including luxury apartments, holiday homes and properties for long-term stay. 

Real Estate Israel E&A 

Real Estate E&A is a web-based real estate company that provides an all-inclusive service for its customers. The company’s website is packed with various listings and informational materials that narrow down an expat’s choices.

Buy Property in Israel 

Buy Property in Israel (BPII) caters to English-speaking clients located around the world and are interested in living and investing in properties in Israel. It was founded by Lyle Ploscher who targets the foreign market since he understands that speaking a foreign language for expats is most of the time a hassle.

Rental prices range between 1,000 shekels (280 US dollars) and 5,000 shekels (1,450 US dollars) which depend on factors such as location and size of the property. Transportation must also be taken into consideration as well as the accessibility of the area to the workplace, market, and schools for expat children. Another important item to take into consideration is the safety and security of the area. As Israel is experiencing conflict over Jerusalem, the country has an unstable security situation that is fraught with riots, rocket attacks and kidnappings. Expats looking for property in Israel are advised to be cautious due to the high-risk environment.