An economic slowdown in Israel combined with a steadily appreciating Shekel have prompted the Bank of Israel to lower interest rates four times in the last twelve months in an attempt to stimulate the economy and weaken the Shekel. However, the Bank of Israel has clearly stated that the moves are not intended to boost the housing market. The Bank of Israel cited the slowing economy and specifically, the appreciating shekel as one of the determ...
This article was printed in the “Op-Ed Contributors” section of the jpost.com 9/16/2013 Abandoning the life-long dream of aliya is an over-reaction to very real, sometimes foreboding problems. In her thought-provoking column last week, Adina Siperman raises genuine challenges while announcing her family’s termination of their aliya dream. The main obstacle, she wrote, was that she didn’t see a pathway to buying a home in Israel. Without diminishing the difficulties she and thousands of other newcomers grapple with daily, we respectfully suggest that abandoning the life-long dream of aliya is an over-reaction to these very real, sometimes foreboding problems. The bo...
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The (slightly misquoted) saying of Oliver Wendell Holmes in the headline precisely reflects the opportunity afforded to foreigners who are buying properties in Israel, which is due to the mini-reform of the trust legislation in this country. But what is a trust, and why would you need one to buy a home in Israel? A trust is the relationship whereby property is held by one party for the benefit of another. A trust usually arises when a property is transferred by one party to be held by another party for the benefit of a third party, although it is possible for an owner to create a trust of a property for himself. A trust is created by a settlor or a grantor who transfers some or all of his property to a trustee who holds that trust property for the benefit of beneficiaries. The settlor...
More often than not, “simple” choices aren’t as simple as they seem. Having opened up our second location on King George St., one of the busiest streets in Jerusalem, we felt it would be a good idea to install flat screen monitors in our window displaying current mortgage rates and terms. We assumed that the purchase and installation of the screens would not be overly complicated, however, our assumptions were far from correct. There are literally hundreds of options to consider ranging from screen size, flat screen technology, resolution, mounting solutions etc. It turn...
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