On the subject of the real estate market in Israel, what are the first thoughts that come to mind? Challenging? Daunting? Israelis shouting about how they are going to find you the best price in all of Israel and possibly the whole world?
Having grown up in England, I can assure you that I understand those thoughts. After all, I had the same ones when I started my property search. I arrived in Israel 13 years ago, and after working in England for 3 years as a real estate broker, I was in shock at how seemingly complicated the process for purchasing real estate in Israel was. It took a while to switch from an English mentality to an Israeli one, but after a few years of hard work, it was finally paying off.
However, while I had grasped a solid understanding of the Israeli property market, my clients from abroad were having a harder time comprehending. I had clients come with arbitrary budgets that were irrelevant to the market conditions, and many had no idea about what the process looked like and what they needed to expect and prepare. There were many deals slowed down, delayed and even canceled because of the lack of information available to buyers from abroad. Thus began the start of my Israel real estate events.
These events were born with the idea that information about the Israel purchasing process should be accessible and attainable to clients from abroad. The goal of the events was simple: to help Anglos fulfill their dream of buying property in Israel by giving them the necessary tools and information required. The events feature a panel of experts in different real estate-related fields, including mortgage brokers, interior designers, currency experts, property managers, real estate lawyers and brokers who specialize in specific major areas. I gathered a group of professionals who specialized in helping Anglos purchase real estate in Israel, and the events began. The events were created and grown to be informational. We of course come with apartments to promote, but we discuss them one-on-one after the session or in a personal meeting. The sessions are solely for the purpose of giving you a comprehensive understanding of the up-to-date and relevant information, including but not limited to: market conditions and prices, legal considerations and taxes, mortgage process and rules for foreign buyers, renovating and managing properties from abroad, and moving money from the US to Israel.
Like every new venture, it started off slowly, as although I had experience as a Jerusalem realtor, I did not have a solid network in America and had to build relationships with the communities. Thankfully, I now have a wonderful network of clients, media connections, and community connections that allow my events to develop and grow. In the last 5 years, we have hosted close to 100 events.
It is wonderful to have had so many success stories and for so many participants of these events to have gone on to buy homes in Israel, whether to move, for a holiday home, or for investment. Tt makes me incredibly happy when people are able to take the information they learn and practically apply it to their purchasing process.
Tamar, from New Jersey, attended one of the events in her local shul. After the event, she came to discuss her family’s property search with me, and over the next few months, we remained in touch until she was ready to start looking. On a family trip to Israel, we saw many different apartments until they ultimately found the right one for them. Each step of the way she consulted with the team she had built, and relied on the expert advice she was given. Now they own a lovely brand new apartment in Old Katamon.
“We had a very positive experience with CapitIL that culminated in our buying an apartment in Jerusalem. Ben Levene was a great guide, because he not only shared a lot of useful information, but was also interested in our questions, respected our budget, and tailored his recommendations to our needs as we developed a clearer sense of what we were looking for. He also helped us understand that visiting neighborhoods where we were considering buying an apartment is a crucial part of the process. It all started with an information session Ben had organized at a local shul, where he brought together professionals who have years of expertise in helping guide US residents through financial, legal, and other practical aspects of purchasing property in Israel. That session was formative for us, as it turned the beginning of a dream into a goal that seemed attainable. We ended up working with some of those same people, and each of them supported us toward that goal. Thank you, Ben!”
Tamar is one of many examples of prospective buyers who did not know how to begin, and that is exactly why these events exist. They are a perfect way to help you begin or advance your search and have the opportunity to meet experts in the field who can help you make that lifelong dream of purchasing property in Israel a reality.
This article is based on the opinions of CapitIL Real Estate CEO & Co-Founder Ben Levene. Ben Levene is a Jerusalem Real Estate expert with over 10 years of experience, specializing in helping Anglos purchase real estate in Israel. To start your Israel property search, please contact Ben at +972-53-822-4336 or [email protected] To see a full list of venues and to register for the events, visit https://www.eventbrite.com/cc/novdec-2022-events-1379859.