What to buy and when: a short guide for luxury buyers

Two questions follow every buyer: what to buy, and when. The answer to the first depends on the purpose. The answer to the second depends mostly on preparation, not on trying to time the market.

What to buy: by purpose

A home: a villa or garden apartment for a family that wants a yard and privacy, or a tower apartment with building services (pool, gym, security) for those who prefer a managed building.

Investment or a holiday home: a smaller apartment near the sea, or a penthouse, that is easy to maintain and rent.

Future building: a plot, for someone ready to run a project and to check building rights before buying.

A central city property: an apartment or house in Tel Aviv, for those who want to be close to work and culture.

When to buy: do not try to time the market

No one forecasts the market with confidence. What can be timed is the preparation:

Financing capacity: how much equity you have, and what monthly payment you can carry. In an example from our analysis, assuming 400,000 ILS of equity, 25 years and 4.5% interest, an average Tel Aviv apartment of 4.2 million ILS requires a payment of about 20,900 ILS a month.

Real transactions: before making an offer, check on the Tax Authority's real estate information site what was actually paid on the same street. An asking price is not a transaction price.

Purchase tax: check before signing how much the tax is and what legal structure fits, and use a real estate lawyer.

Unadvertised properties: some transactions are done discreetly and do not appear on the portals. Buyers who prepare in advance find them.

A short list before you search

Define the purpose and the property type.

Set a total budget, including tax and related costs.

Check the monthly repayment capacity.

Learn the latest transactions in the area.

Arrange viewings of the properties that fit.

For personal advice and to be shown properties, including ones that are not advertised: Hagai Oren, licensed real estate broker, +972-54-445-2120.