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Home · practice areas · Real Estate · Latest Updates

Latest Updates / Real Estate

December 4, 2022

Closing a Deal – Transaction Closing in the World of Malls and Chain Stores

Terry Almozlino-Arnon, Alon Wolner, and Irit Brodsky are participating in a panel on how to successfully complete mall real estate transactions and commercial tenders. The panel is being held as part of the Israel Mall Chain Store Conference held in Eilat.

November 28, 2022

Institutional Entities Investing in Urban Renewal – Success Story?

Will an alliance develop between urban renewal companies and the capital market? Elad Reshtick, a partner in our firm’s Capital Markets Department, addresses the issue in an op-ed for Calcalist.

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November 22, 2022

Real Estate: Slowdown of Israel Building Inputs Price Index Affecting Buyers

In the last three months, Israel's Building Inputs Price Index rose by only 0.1%, affecting both apartment buyers and contractors. As part of a Globes interview with experts in the real estate field, Terry Almozlino Arnon, head of our firm's Commercial Real Estate Department, discussed the importance of Amendment 9 to the Sales Law (Apartments).

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November 21, 2022

Luxury Apartments in Israel: What Is the Maximum Exemption from Land Appreciation Tax?

The Israel Tax Authority and the Real Estate Tax Appeals Committee disagree on the entitlement to the maximum exemption from land appreciation tax.

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November 7, 2022

Podcast: Adv. Harel Perlmutter Talks Real Estate Taxation on "Kesef Bakir"

Taxation can make or break real estate deals. Harel Perlmutter, head of our firm's Tax Department, talks with Guy Lieberman about tax hitches and opportunities in an interview also published on Globes.

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September 4, 2022

Responding to ITA Solution for TAMA 38 Tax Benefits

The Israel Tax Authority announced a temporary solution for the problem of tax benefits in TAMA 38 projects. Our firm commented on the proposed solution.

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August 11, 2022

Everything Foreign Residents Need to Know about Buying an Apartment in Israel

Buying an apartment in Israel can be an excellent transaction for foreign residents, even without lower purchase tax brackets, as long as they know the right way to proceed.

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July 18, 2022

Condominium Buildings and Electric Vehicle Charging Stations – New Ruling

An apartment owner in a condominium building installed a private electric charging station in her parking space without the consent of the other apartment owners. This is what the supervisor ruled.

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July 11, 2022

Israel's New Urban Renewal Plan – When and What?

Last week, the Knesset approved Interior Minister Ayelet Shaked's new urban renewal plan in second and third readings. The new plan will replace Tama 38, the national outline plan for strengthening existing structures against earthquakes. What are the main points of the new urban renewal plan? How will it be implemented and until when can projects be promoted within the framework of Tama 38? Read Globe's new article.

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July 6, 2022

News for Apartment Buyers in Israel – Major Amendments to the Sale (Apartments) Law

The latest amendment includes a limit on linkage to the construction input index and revises contractors’ compensation rates for delays in apartment deliveries

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July 3, 2022

Latest Legislative Amendments to Promote Pinui-Binui Projects

The importance of pinui-binui (vacate-and-build) projects for resolving the housing shortage in Israel has spurred new legislation to resolve the problem of recalcitrant tenants, to define what constitutes a majority of tenants in such projects, and to regulate projects in neighborhoods comprised of detached houses.

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June 22, 2022

Elections 2022: The Industry Entering a Huge Crisis

The decision to hold elections in October 2022 looks likely to have a significantly negative effect on Israel’s urban renewal industry. Our firm commented to The Marker, . “If we hoped for a slowdown or a halt to rising real estate prices, it’s not going to happen. Especially in the urban renewal field, there is a real fear of massive delays.”

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April 14, 2022

Development Expenses Not Included in Property’s Purchase Value

The Israeli Supreme Court rejected the Israel Tax Authority’s position regarding the inclusion of development expenses in property values for tax purposes.

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April 5, 2022

Barnea: Representing Kibbutz Shefayim and Yad Hana in Transaction to Sell Land Designated for Logistics Complex

Mivna Group has acquired 50% of the shares of the Yad Hana Homesh Industries Cooperative Association for ILS 140 million. The parties intend to jointly establish an innovative logistics center in a total built-up area of about 100,000 square meters. The client was represented by Advs. Ilan Blumenfeld and Maya Zisser.

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March 17, 2022

Russian Oligarchs’ Growing Interest in Israeli Real Estate

Liat Keisary, an expert in advising high-net-worth private clients, was interviewed by TheMarker about Russian oligarchs’ sudden interest in Israeli real estate. Liat detailed the difficulties these oligarchs now face in the wake of Russian sanctions in making payments and obtaining guarantees from banks in Israel.

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January 17, 2022

“Court Ruling: Did You Approve a Price and Payment Terms? It’s a Binding Agreement” – Maya Zisser Column in Globes

Maya Zisser, a partner in our Real Estate Department, has published an op-ed column in Globes on the new conditions for determining a binding agreement in a sale transaction. Click to read

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November 17, 2021

Everything to Know about the Purchase Tax Hike on Israeli Real Estate Investors

Earlier this month, the Israeli Ministry of Finance approved the outline for a hike to the purchase tax imposed on real estate investors, once again, to tax brackets of 8% and 10%. The Ministry of Finance has since updated that the purchase tax hike will take effect on Sunday, November 28. The ministry’s goal with this move is to “dissuade” investors from purchasing investment apartments and lower the demands in the residential housing market.

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November 9, 2021

Much More than 66% – Must-Know Changes in the Urban Renewal Field

After years of expectations, the government has approved the legislative amendments needed to promote “Urban Renewal” projects in Israel. While everyone is talking about the amendment lowering the threshold of consent for apartment owners to 66%, a lot more has also changed. All of the amendments, both major and minor, are important.

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October 4, 2021

Representing Azrieli Group in NIS 1.31 Billion Acquisition of Mall Hayam

Our firm represented Azrieli Group, the largest income-producing real estate company in Israel, in the acquisition of Mall Hayam for NIS 1.31 billion. Firm partners Terry Almozlino Arnon, Ilan Blumenfeld, and Alon Wolner represented Azrieli in the transaction.

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July 13, 2021

Real Estate Transactions Using Digital Currencies – Regulatory Challenges

The volume of real estate transactions incorporating digital currencies is expected to grow in the coming years, especially among young, wealthy, tech-savvy professionals. Zvi Gabbay, the head of our firm's Capital Markets Department and a former head of enforcement at the Israel Securities Authority, was interviewed by Globes on the trend. Zvi noted the regulatory challenges that exist in these types of transactions.

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