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realty purchase tax

Realty Purchase Tax (Mas Richisha): Be Wise

What is the realty purchase tax? The tax on a new home is one of the most expensive purchase taxes in Israel. In Hebrew it is known as Mas Richisha. There are different levels of purchase tax for Israeli citizens, new olim (immigrants), or a second home purchase.Here are the current rates for Israeli citizens (until 16 Jan, 2023): Value of the property (in NIS) – fromValue (in NIS)– up...

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Reduced Price Apartments: the Buyer’s Lottery Program

What is Israel's government discounted housing program? Buying an apartment today in Israel can be a challenge, especially for young couples who are just starting out in life. One of the opportunities for these couples is to apply for one of the national reduced housing program lotteries.  A "Discount apartment" is intended mainly for the homeless, but is also for people improving their...

Is Purchasing on Paper Better?

Buying properties "on paper", as is the popular slang, carries with it certain advantages and disadvantages. These new properties are usually less expensive than second hand homes. In the USA, new home projects might be 20-25% cheaper than second hand homes. I see in Israel that the percentage in savings is less; more like a 10-18% saving in general. Keep in mind that the...

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Real Estate Taxes for Buyers

Buying property in Israel, especially for non-Israelis, has been a struggle in the past few years for a number of reasons: Property values in Israel have gone up. —Times of Israel.The rate of the USD has gone down. At the time I am writing this, the exchange rate is 3.11 NIS to the US Dollar,. 3 years ago, in Jan 2019, the USD was valued at 3.7 NIS.The high purchase taxes. If you the chance to...

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