Israel is a fantastic country and one that is quickly positioning itself as a tourist hotspot and somewhere that it would really pay off to have a second home or even just a holiday apartment. It has some of the most diverse and interesting historical monuments, artifacts and attractions in the world as well as being home to many natural wonders and also benefitting from great weather for most of the year. It is for these reasons that you find so many holidaymakers choosing Israel as their destination of choice however if you are thinking of making your stay more permanent and investing in luxury real estate Israel then there are some things to consider.
You need to remember that any potential deal is going to involve both an agent/broker fee and also a lawyer fee. This is basically a payment for finding the property and getting everything set up for you – essentially passing the hard work and the small details onto someone else. In Israel the agent fee stands at a modest 2% whereas your lawyer will be able to tell you well in advance of any fee’s that are applicable to them.
There are also several taxes such as VAT that you may have to pay as well when it comes to purchasing real estate in Israel so make sure this is all accounted for in your initial budget because you do not want to wake up with a surprise and find out that you have massively overspent because you have failed to take these kinds of charges into consideration. This all being said, Israel is still relatively cheap to buy property compared to some of the other tourist hotspots however it will only be a matter of time before this changes so it is advisable to get in quick.
