Real Estate Law in Israel is probably the least known but the one most people think they know. Only a qualified lawyer can really advise any potential buyer or investor. Real estate, for the buyer, can create both, passive and active income. Should the owner opt to rent out the property, rent money can provide a steady source of regular income. The property itself will increase in value and the owner will assuredly make a profit.
In an era of volatile commodities, real estate offers long range stability for any buyer and or investor, especially in Israel. Even some property, of any size, in the periphery of Israel will make for a good investment in most situations, yielding nice income from rent. Times of economic crisis, war and acts of terror can result in a sway in the real estate market and in Israel, those situations are all too real. However, for the wise investor who can wait for the market to recover, he or she can see significant profit on his or her investment.
It goes without saying that property in any of Israel’s major cities is not only a good option but one of the most secure and reliable ones.
What You Don’t Know
Don’t let your lack of knowledge deter you from making a sound investment, if you have the funds. Many who have the full amount of capital at their disposal, avoid the real estate market in Israel simply because of what they don’t know. They lack confidence in themselves and simply avoid it altogether. David Page is a lawyer in Jerusalem, Israel, expert in real estate law in Israel.
Tangentially, if someone decides to buy property, one should not buy a property if ones primary reason is:
- Because it is near your place of work
- Because it is close to where you or any of your relatives live
- It is in some area that you like because you were there on vacation and had a great time, at some point
Your investment should, ideally, be decided based only on one cold, hard, consideration and that is earnings potential or return possibilities. Think and decide with your head and not your heart. Get an ace of a lawyer to navigate real estate law in Israel for you.
Leave Room for Incidental Costs
Do not deplete your economic resources, even if you have the entire amount of money in your possession. Taking a loan or mortgage can help build your credit rating and will also leave you with a safety net of sorts for:
- Purchase tax
- Realtor fees
- Legal fees
- Renovation budget, if needed
- Any other, unexpected expenses
Real Estate Law in Israel
Real estate law in Israel is clear and straightforward, the caveat being only if you understand it. Many people do not but for some reason, think that they do. They usually know what pertained or pertains to them at a given time. For a comprehensive picture of all applicable statutes, an expert real estate lawyer in Israel is the person you need.