Investing in a new home or piece of land is a detailed process that takes a fair amount of time and admin. First you need to find a property that interests you and only if it meets your specific requirements will you begin the process of applying for funding and filling out the relevant paperwork.
Investing in property in a different country brings a whole other set of requirements to the table.
Looking at Ashkelon
Ashkelon is growing at a rapid pace and with so many incredible opportunities available to investors, property is being snatched up every month.
This boom has also brought many new developments with it so if you’re looking to make an investment in Israel, now is the time, and what better place than a beautiful city near the sea.
What to expect when buying a property in Ashkelon as a foreigner
If you have decided that property in Israel is going to be your next investment, here is what you can expect as you go through the process of purchasing a property or land:
Contact an estate agent
Finding an estate agent to work with is an important first step if you want to make the process of buying a property in Ashkelon a pleasant one. Once your estate agent has a better idea of what you are looking for they can start identifying potential properties for you. If you have found a few properties that you would like to have a look at you can send the details through to your estate agent so that they can add them to your shortlist.
Evaluate your options
Once your estate agent has identified a list of potential properties for you they will send you a shortlist so that you can evaluate them and decide which ones you would like to view in person. Your agent will setup all of the viewings for you and accompany you on each visit. You would of course need to arrange a time to fly into Israel to view the various properties.
It’s at this stage that you truly appreciate having the help of an experienced agent. Because they understand the processes, rules and regulations involved with purchasing property in Israel they can negotiate a price on your behalf and sort out any other additional costs that are involved with buying a home. You will also require the assistance of a lawyer during the buying process. Ask your agent for a list of recommended lawyers to rule out having to find one yourself. Your lawyer will be able to guide you in terms of tax and how you can acquire the property at the best rate.
Move or manage
Once the process is a complete your agent will be able to guide you during your move to Ashkelon or advise you on how to best manage your property if you will be leasing it out to holiday makers or locals.
Need help getting started? Let Motti guide you on your property investment journey.