Author: Shaun Isaacson

It was every landlord’s nightmare – a pipe burst on a Friday afternoon. When the tenant called Creative Estates at 12.00 noon on Friday, we dispatched our emergency plumbing team to assess the problem.

Some Israeli plumbers would have disconnected the water and arranged to come back and fix the problem after the weekend, but our team didn’t want to leave the tenant without water. They rigged a temporary water supply pipe to circumvent the leak, restoring the water supply by 4.00pm on  Friday.

After the weekend, they came back to fix the pipe and patch up the damage. They also checked the location of the pipe and verified that fixing the problem, and the damage that had been caused, would all be covered by the insurance policy. The landlord would not be out of pocket when he found out about the broken pipe, which was only after it had already been fixed!

Creative Estates goes the extra mile to make life easier for landlords and for tenants. That’s what professional property management is all about.

The Israeli government has announced new regulations to double municipal property taxes on empty apartments from January 1, 2014.

The Knesset Finance Committee has approved proposals initiated by Finance Minister Yair Lapid to allow local authorities to impose double property tax on properties that are vacant for 9 months of the year. This proposal was first suggested during the social protests in the summer of 2011, to help young people by increasing the number of rental properties in Israel’s cities.

The new regulations will be tested for two years (2014 and 2015). Tax officials will check which properties are empty by examining electricity bills, which has led some commentators to suggest that owners may prefer to leave the lights on in their empty apartments rather than renting them.

Shaun Isaacson, CEO of Creative Estates Investments and Management Services in Israel, says that this would be a mistake. “With average returns of 4% and up to 7% in some areas of Central Israel, it makes much more sense for overseas owners to rent out vacant apartments, rather than paying double taxes or high electricity bills.”

“We have no shortage of reliable tenants who would be happy to pay good rents, particularly in Israel’s central region where the local economy is strong. Property owners can not only make a profit for themselves through expert property management,  but can also help young Israelis who are keen to set up homes of their own – it’s a win-win situation. These new regulations mean that now is the ideal time to rent out your empty property in Israel.”

To find out how Creative Estates can manage your property in Israel and earn you excellent rental income, contact Shaun@CEIsrael.com

Israel’s property market offers solid returns on investment. As very cautious lenders, Israel’s banks protected its property market from the worldwide crash in 2008 , but prices are now rising steadily throughout the country.

People often ask where they should invest in Israeli real estate. Jerusalem is usually the most popular destination, but many cities in the centre of Israel have benefited more from steady economic growth in hi-tech, retail and industry. The natural gas dividend is further expected to fuel consumer and commercial confidence.

So, here are our four top tips for Israel property investment in 2014.

Ir Yamim in Netanya is the most sought-after neighborhood along Israel’s Gold Coast, and particularly popular with English-speaking visitors and retirees. New skyscrapers are springing up, with 4,500 new apartments at an average price of 2.3 million NIS ($600,000). As this neighborhood develops, now is a great time to buy a property in Netanya’s newest seafront community.

In Ra’anana, demand for property has been outstripping supply, but new communities are now being developed in the north of this favourite English-speaking city. The opening of Route 531 during 2014 will ease congestion at the entrance to Ra’anana and make it an even more popular place to live. Talk to Creative Estates about the various real estate projects currently available for investment.

Tel Mond is a popular suburb, located between Netanya and Ra’anana, with large new family houses being built all the time. Currently a newly built 6-room home will cost 2.7 million NIS ($770,000) and an older house of the same size costs 2.4 million NIS ($686,000). Families are moving to Tel Mond for the strong Anglo-Israeli community and great lifestyle.

Kfar Saba is our top tip for 2014, with 5-room apartments still available for 2 million NIS ($570,000). With exciting urban renewal plans, this city is 15 minutes from Tel Aviv and conveniently close to the facilities in Ra’anana, but prices are still reasonable. Don’t wait for that to change!

Talk to Creative Estates today about investing in properties in Kfar Saba, Tel Mond, Ra’anana and Netanya, and in cities throughout Israel.