Latest Updates

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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June 20, 2021

Purchase of Agricultural Land – Appraisal Standard No. 22

The purchase of agricultural land has become a common investment channel with high chances of success. Alongside this, there are a few risks potential buyers must prepare for. Hagit Ben Moshe, who leads the kibbutz and agricultural sector at our firm, was interviewed by Ynet for an article on the risks of purchasing agricultural land. She explains what appraisal standard no. 22 is and its importance in such purchases.

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May 11, 2021

Representing Azrieli in NIS 860 Million Agreement with SolarEdge

Our firm represented the Azrieli Group in an agreement with SolarEdge to build the solar energy company’s new campus, at an investment of approximately NIS 860 million. The future campus will be built by Azrieli on a 6.5 acre site in Glilot North, east of the coastal highway (Road 2), which was purchased from private owners. Advs. Terry Almozlino Arnon and Alon Wolner represented Azrieli in the transaction.

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May 6, 2021

Prenuptial Agreements - New Israeli Supreme Court Ruling

Up until now, the Israel Tax Authority interpreted the Real Estate Taxation Law so that spouses who signed a prenuptial agreement and maintained separate property were considered a single family unit for the purposes of real estate tax.

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April 18, 2021

Overcoming Opposition to Construction Plans

The publication of large-scale construction plans often provokes fierce opposition from residents in the area. Yedioth Ahronoth published in its weekend edition a comprehensive article on the subject featuring an expert from our firm. What do you need to know about submitting a plan and how to do so?

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April 17, 2021

Blockchain and Real Estate

Globes has dedicated its Real Estate Supplement for Israel's Independence Day to real estate innovation. Dr. Zvi Gabbay was asked to publish a guest column discussing the implementation of blockchain technology that enables the registration and performance of digital operations through a distributed network of computers in the real estate field. According to Zvi, once land registration is also based on blockchain, buyers will be able to purchase real estate property and take out a mortgage in exactly the same way online purchases are made today.

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January 17, 2021

A new Supreme Court ruling considers the municipal property taxes for common areas in malls and shopping centers

The Tel Aviv Municipality sent the Ramat Aviv Mall a municipal property tax bill for its common areas. The mall’s management argued that shop tenants must pay municipal property tax payments for these areas, under their lease agreements with the mall.

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December 2, 2020

A Do and Don't Guide before Purchasing Rights in Agricultural Land in Israel

The Israeli public is offered a number of opportunities to acquire rights in agricultural land that may be rezoned to residential. Before purchasing such rights, there are a number of issues to examine in order to understand the lands potential.

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