Buying asset in Israel – now more than ever
The Gaza war that caused a wave of anti-Semitism around the world might result in the immigration of many Jews to Israel as well as the return of investors to the Real Estate section.
In the first weeks of the Gaza war, most of the work sites were shut down and construction activity dropped by about 80%. Recently, however, construction partially resumed. Due to the security situation, the government decided to extend the validity of various regulatory approvals and postpone payment dates in the construction industry in order to facilitate business in the industry at this difficult time.
The more definitive the defeat of Hamas, the smaller the damage will be to the demand for real estate in Israel at large and to the South of Israel specifically. Investors will return and maybe we will even see an upswing of demand. There a place for optimism in this area.
There is another phenomenon that is important to talk about and which we will refer to in this article. Antisemitism rising all over the globe in numbers that we didn't see since World War 2.
The direct effect on Jews and ex-Israelis
In light of the increase in anti-Semitism in the world, many believe that it is very likely that the war will ultimately cause a wave of immigration to Israel, and perhaps the return of foreign investors to the Israeli real estate market.
There are those who call for the installation of favorable regulations to real estate buyers in general, and buyers from abroad in particular, in order to encourage this potential that may help the flourishing of the entire Israeli economy. For example, some call for a policy of lowering the purchase tax, which may benefit the real estate industry after the war. We as a law firm who participate in real a state, are very supportive for this chance in the law, and sooner as better.
Our office has an extensive real estate department that deals with all types of real estate transactions. In our office there are attorneys who speak English as their mother tongue (Americans who immigrated to Israel). Our real estate department often works in full cooperation with the tax department in our office, which finds creative tax solutions for our clients, in order to bring significant tax savings.
In these times, when antisemitism raise and jews get assault on a daily base, buying an asset in Israel might be considered as a safe option. Doing so with a lawyer who already speaks fluent English, might is what we know to do and part of our mission.
In conclusion, our real estate department is here for you. With personal attention, creative solutions and high reliability. We invite you to contact us and walk hand in hand towards your next real estate transaction.
You can contact directly to our real a state department managers Mr Ari Syrquin or Mr Guy Serussi:
Tel: +972-3-601-6565
Mobile: +972-52-5253237
Email: Guy@sm-lawyers.co.il
