Hello Everyone! I hope this finds you all healthy and well.
The season of the Omer, the period between Pesach and Shavuot, which falls during the Spring months, symbolizes renewal, new beginnings, and rejuvenation. That’s why I’m devoting this month's newsletter to urban renewal in Israel and how it affects you as a purchaser or seller of Israeli real estate. In the last 15 years, urban renewal projects have abounded in cities all across Israel. There are basically three types of urban renewal, Tama 38, Pinui Binui and Preservation of historical districts or conservation areas. Knowing the differences can help you make the right decisions for you regarding buying or selling properties.
Here are a few of the questions to answer regarding urban renewal:
Are you thinking of buying an apartment in such a project, and how does it affect the price?
Do you own an apartment in such a project and how does this affect the sales price and taxes involved in the sale?
Do you live or own property in a historical district or conservation area, such as the German Colony in Jerusalem or Neve Zedek in Tel Aviv? If so, what do you need to know?
The attached article is part of a series to guide and assist you in the decision-making process.
This is one of many blogs with information on Israeli real estate on my website here to help you to understand the ins and outs of purchasing real estate in Israel. Or you can read my book to help you navigate "The Israeli Real Estate Maze".
I hope you’ll continue receiving our Israel Real Estate Insights newsletter. If things have changed, and you’re no longer interested, please unsubscribe here. If you have any questions about real estate in Israel, feel free to contact me at nicole@levinlawoffices.co.il. Have a great holiday of Shavuot. Nicole Levin, Adv.
Urban Renewal the Israeli Way
Urban renewal of the Israeli way has been debated by Israeli local planning authorities for several decades now. This topic is not only hot in Israel but all over the world. What to do with old neighborhoods? Should they be knocked down and rebuilt? Should the buildings be renovated? What happens to the old population? Do they stay or just move away?.