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Apartment in tel aviv

18th July 2012 – Low interest rates offered by Israeli banks are making real estate purchases in the Holy Land a favorable business move according to Globes-online.com, the Israeli business news publication.

Investing in property in one of the world’s top tourism destinations makes sense in several ways. Such major tourism areas suffer less in recessions and property values quickly rebound if there is a drop.

The New York Time reported the global slump in the last decade merely slowed demand for property in Israel. It has since picked back up.

As with everything in real estate, location drives the price. Some parts of Israel have home and property prices quote low compared to others. In high demand areas, the prices rise to reflect the consumer’s demand to be in such vibrant cities. Luxury in Tel Aviv can be found, but will demand a premium price and will generate a premium return.

The near-global housing market crash has not done much to affect real estate prices in Tel Aviv, Israel’s finance capital. Property in the city continues to be a sound investment. An apartment in Tel Aviv is one of the most solid real estate investments in Israel. Apartments in some of the business districts are selling for millions of dollars.

The Tel Aviv real estate section on Craigslist.org posts a number of apartments for sale, many with beach and sea views. These properties are typically not listed very long, which further indicates a strong real estate market.

Israel’s cultural capital Tel Aviv attracts plenty of foreign investors, especially Jewish people from the US and Europe. Judging from real estate sales report, they are most interested in higher-end properties west of Ibn-Gabriol Street, close to the beach.

There are no restrictions for foreigners buying property in Tel Aviv. However, buyers should be ready to add seven to 10 percent of the final purchase price to the deal to handle some add-on expenses. These include a land purchase tax, real estate agent and lawyer, registration and notary fees. A full year’s worth of municipal tax must be paid at signing.

Tel Aviv real estate is known to be a great investment. if you think of buying Apartment in Tel Aviv you should know that it will without a doubt be a Luxury in Tel Aviv that you will own in the future.