Author: Arik Mirovsky

[ad_1] Russian billionaire Valery Kogan is ready to promote his Tel Aviv seafront penthouse on Herbert Samuel Boulevard for NIS 120 million ($33 million). The customer is a international resident and a supply near the deal has advised “Globes” that the quantity contains each the value of the condominium and its furnishings. Sotheby’s Israel, which marketed the property, stated that the deal has but to be signed however is within the remaining levels earlier than signature. When signed will probably be one of the crucial costly residential actual property offers ever accomplished in Israel. Kogan’s penthouse is on the…

[ad_1] Housing costs in Israel are falling. However whereas three areas are dragging down the general common, costs are literally rising within the three different areas. Since October 2022, the Central Bureau of Statistics Housing Worth Index has risen very barely however since March 2023 housing costs have fallen 0.8%. Tel Aviv District leads the declines, particularly in April and Could and since January 2023, costs in Tel Aviv District are down 2.8%. RELATED ARTICLES Actual property firms: Falling gross sales, rising costs Mortgage bankers detect restoration in…

[ad_1] The close to future for the event and building sector in Israel doesn’t look good. The sector has a number of structural issues that trigger bouts of manic melancholy, manifest in unpredictable rises and falls in costs. If fourteen years in the past we felt how laborious it was for the sector to get going, within the two years between the primary Covid lockdown and the center of final 12 months we felt highly effective acceleration, whereas these days the sector has been placing on the brakes. In an try to put a finger on the structural issues,…

[ad_1] Unique: Israeli billionaire Teddy Sagi has just lately accomplished the acquisition of a home at 56 Galei Tachelet Avenue in Herzliya Pituah for NIS 100.8 million. The 870 sq. meter, seven room home is on a 1,000 sq. meter lot with a swimming pool. The land registry says {that a} NIS 50 million mortgage was taken from Financial institution Leumi to buy the home. Galei Tachelet Avenue has the costliest houses in Herzliya and the whole nation. The road runs alongside cliffs overlooking the ocean making the even-numbered houses (35 out of 60) on the coastal-western facet of…

[ad_1] “I’ve instructed the director normal of the ministry and the director normal of the Israel Land Authority to arrange workers work for the presentation of a piece plan that may preserve the tempo of land gross sales and constructing begins, with the intention of bringing a couple of fall in costs within the close to future,” Minister of Housing and Development Yitzhak Goldknopf mentioned this week as he opened the lottery for sponsored flats beneath the “Dwelling at a Low cost” program. Based on Central Bureau of Statistics figures, nevertheless, dwelling costs are about to fall no matter…

[ad_1] In November 2022, the whole of mortgage loans taken in Israel was NIS 7.6 billion, down 31% from November 2021, the Financial institution of Israel reviews. In November 2022, the whole of mortgage loans taken in Israel was NIS 7.6 billion, down 31% from November 2021, the Financial institution of Israel reviews. The determine is significantly increased than the NIS 6.089 billion taken in mortgages in October, though the vacations dampened enterprise exercise throughout the month. These figures observe reviews from the Israel Tax Authority earlier at the moment that there was a 27% decline in…

[ad_1] Final month noticed the fewest the variety of mortgages taken since Might 2021, aside from the ‘holidays’ month of September 2021. Much less folks took mortgages in Israel in July however the common mortgage taken climbed to a brand new file, the Financial institution of Israel experiences. 9,701 mortgages had been taken in July 2022, down 16% from July 2021, and down 20% from June 2022. However whereas considerably much less mortgages had been taken final month, in all probability due to larger rates of interest, and particularly the 0.5% hike in July, people who did…

[ad_1] The choice whereby house owners of outdated houses within the Rova 3 space in Tel Aviv won’t be able to profit from an exemption from the Betterment Levy arising from TAMA (Nationwide Define Plan) 38 for city renewal is making waves. The good worry is that the choice will put Rova 3 and neighboring Rova 4 within the northern a part of central Tel Aviv into a protracted interval of uncertainty in regards to the degree of Betterment Levy that shall be collected from dwelling house owners. Betterment Levy is imposed on the charge of fifty% on the…

[ad_1] Are we seeing the primary indicators of the wave of recent dwelling purchases subsiding? Figures from the Central Bureau of Statistics on new dwelling purchases launched at the moment present a decline within the variety of transactions for the fourth successive month. Furthermore, for the primary time in two years the time spent on the shelf by a brand new residence has lengthened. The figures usually are not closing, and the variety of new dwelling buy remains to be very excessive, whereas the time it takes to promote one remains to be pretty brief, however there does seem…

[ad_1] Israeli actual property growth firms lively in Russia usually are not speeding to touch upon the attainable results of the sanctions about to be imposed on Russia. No matter the character of the sanctions, the ruble will clearly be hit, and builders are liable to be considerably broken. The attainable comfort is that not many Israeli actual property firms do enterprise in Russia. That’s in all probability not a coincidence. The golden age of Israeli actual property growth in Russia is nicely behind us, within the first decade of the century, and it reached a peak within the…