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Insights & News / Real Estate
August 11, 2015
Israel home sales reach all-time monthly record
The Ministry of Finance has published data showing a 42% surge in apartment purchases to a record 16,100 apartments in June. This " wave of sales" is a result of investors trying to buy before implementation of the new purchase tax. Maya Zisser Ben Tal, partner in the real estate department, was interviewed by some leading newspapers and websites – Globes, Calcalist, Ynet and Bizportal, saying that she doubts if the new purchase tax will eventually reduce high prices in the housing market.
March 25, 2014
Zero VAT plan for new homebuyers
The Israeli Minister of Finance, Mr. Yair Lapid recently proposed that a couple with at least one child intending to buy their first apartment from a contractor will not be obliged to pay VAT. The head of real estate department at Barnea, Ariel Nadler, agrees that this proposal will allow young couples to buy an apartment, however, this step is not enough in order to change the current real estate situation in Israel. Calcalist, 19.3.14.
October 7, 2014
Zero VAT on first home will be for seven years only
The initiative to apply 0% VAT for first-time homebuyers will be a temporary ordinance for seven years. The leading newspaper Globes described the legal effects of this and interviewed senior lawyer, Liat Keisary Yahalomi.
December 11, 2014
Barnea & Co. represented Israel Natural Gas Lines
The Real Estate department, headed by Ariel Nadler, represented Israel Natural Gas Lines in the petition filed against it by Kibbutz Regavim. The judge rejected the petition stating that she did not see a reason to interfere in the government’s decision. In her view, once the safety concerns had been cleared, the kibbutz should have withdrawn the petition, which it did not do, The kibbutz will have to bear petition costs of NIS 4,000,000.
May 16, 2013
A residential plot in Herzliya was sold for NIS 32 million
The plot, that can accommodate 43 units, was put out to tender after there was a dissolution of ownership in the plot between the owners. This emanated from the owners failing to reach the agreement between themselves as to whether to proceed with either developing the plot or selling it.
The tender and sale process was managed by Attorney Ariel Nadler, head of the real estate law department at Barnea To read more, please click here
June 28, 2013
Sea view real estate
Before buying real estate close to the sea, Adv. Nadler advises that a buyer must bear in mind that the corrosion to buildings that are located near to the edge of the sea is substantial. "Maintenance issues are important factors to consider because of the dust and sea spray. You should also be aware that there are higher maintenance costs involved in owning an apartment near the sea arising from dust, dirt, corrosion and external maintenance to the property. It's also very important to have proper and ongoing maintenance to the property and this incurs a substantial cost. So if you calculate the apartment price whilst factoring in the higher maintenance costs the fee per square meter of the property would be a higher fee per square meter calculated in the purchase price and may be a lot greater than may be anticipated.
December 31, 2012
"Lev Talpiot" shopping center - Barnea & Co. represented Pini Serfaty
Barnea Co's was involved in the purchase of the "Lev Talpiot" shopping center in Jerusalem, which was completed on the 31.1.12 . The shopping center was purchased by RIT1 Investment Fund. Barnea represented Pini Serfaty, one of the shareholders of Lev Talpiot.