Buy or sell Property in Tel Aviv: It is a Real Investment!
Whether you are going to buy or sell property in Tel Aviv, properties have always been considered as a good investment in Israel. The city Tel Aviv is located in the central Israel. Central Israel is known for exclusive properties. The real estates in the country cater to individuals with different taste and backgrounds. You can find a huge array of Israel real estate companies that guide the buyers to get the transactions in the country including estate, penthouses, villas and apartments. Let’s try to figure out the potential of properties in Israel as an investment.
In this country, the real estate is classified into two types. The first one is the privately owned real estate and the second one is the real estate owned by the State. The main difference lies in the fact that the private land registration is under the name of the purchaser in the land registry. Therefore, it is important for the buyers to assure whether the property is on state land or private land.
If the property is registered under private land, it is vital to ascertain the date of renewal of the lease. It must be noted in this context that only 8 % of lands in Israel is private. Most of this private land can be found in the urban regions.
What is the process to buy property in Tel Aviv?
If you are going to buy property in Tel Aviv, you should select a location. In this Israeli city, people coming from different ethnic background live together in peace. Buyers need to check the proximity to shopping and transportation. A real estate agent who can provide you guidance should be consulted to buy a property. Generally, the real estate agents charge about 2 to 3% of the price of the property as their fees. Both the buyers and sellers need to pay this commission. These agents help the buyers through all the paperwork involved in buying and selling property in Israel cities like Tel Aviv. They will also help the ones who are going to sell property in Tel Aviv.
Both of the two parties (buyers and sellers) are free to hire a lawyer. The lawyers will determine the legal status of the property. They incorporate the price and all the relevant terms and conditions. The agreement paper will be based on these terms and conditions.
After the agreement, you should pay attention to the first payment. The fees of the real estate agents and the lawyers are also included in this payment. Additionally, if you are a buyer, you will have to pay the purchase tax. You will have a time of 50 days for making the payment.
A property which you are going to buy now can be targeted for selling in future. Therefore, when you are buying a property you should also think of these aspects for future such as:
- What is the market value of the property?
- Is there any chance of raising the property value?
- What will be the legal facts regarding the selling of this property?
When you will sell this property in Tel Aviv, a real estate agent will help you in the same way. There are many people who buy property not for staying but for selling at double price. This is the reason that property is regarded as an investment in Israel.