The Haredim succeeded in rejecting the 0% VAT law initiated by Yesh Atid chairman Yair Lapid, but the latter promised that the law would pass no matter what.
As part of our real estate coverage series, we will focus our lens on Jerusalem - a city that should not benefit or be harmed much from the zero VAT program.
Ramat Shlomo
The Tax Authority's average for a 3-room apartment (built 15 years ago) is 1,475,000 NIS.
In practice: Winning purchasing groups estimate that a 3-room apartment will cost approximately 1,150,000 NIS.
Advantage: The manager is putting another 1,000 apartments on the market, the neighborhood was established as an ultra-Orthodox neighborhood and has everything needed.
Disadvantage: The new projects are located in close proximity to the Beit Hanina neighborhood.
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Levels B'
The Tax Authority's average for a 3-room apartment (mainly old construction) is 1,330,000 NIS.
In practice: Winning purchasing groups estimate that a 3-room apartment will cost at least 1,150,000 NIS.
Advantage: A modern neighborhood with extensive green areas and a spectacular view.
Disadvantage: The new neighborhood is cut off from the area that is becoming more religious, and in this battle the secular and religious won and own most of the apartments in the neighborhood, and it is likely that the neighborhood will not become more religious in the coming decade, if at all.
Neve Yaakov
The Tax Authority's average price for a 3-room apartment (mainly old construction) is 1,083,000 NIS.
In practice: an old 3-room apartment in the Mitzhared area starts at about NIS 1 million.
In the new projects, a 4-room apartment is sold for approximately 1,400,000 NIS.
A tender for 56 units that returned without results has not been opened for a long time.
Pisgat Zeev
The Tax Authority's average for a 3-room apartment (mainly old construction) is 1,079,000 NIS.
In practice: an old 3-room apartment in the Hamthared area starts at about 900,000 NIS.
In the new projects adjacent to the area of concern, 3-room apartments are expected to be sold for a little over NIS 1 million.
Advantage: Light rail, shopping mall, food stores and most commerce.
Disadvantage: Slow hardening.
Gila
The Tax Authority's average for a 3-room apartment (mainly old construction) is 1,039,000 NIS.
In practice: an old 3-room apartment in a shabby area costs 900,000 - 1,000,000 NIS.
After no bids were made on the previous auctions, the auctions returned again with 708 housing units.
In the purchasing groups bidding on the tenders, a 3-room apartment is expected to cost about 1,100,000 NIS (there is also the possibility of reaching a 3-room apartment for just under a million NIS, depending on the number of bidders in each complex).
Advantage: The new neighborhood is connected to the new road, which should significantly shorten the trip to the north of the city.
Disadvantage: The neighborhood is very far from the Haredi area, if a small Haredi group wins then it will be isolated.
Romema
The Tax Authority's average for a 3-room apartment (mainly old construction) is 1,596,000 NIS.
In practice: a 3-room apartment in projects starts at about 2 million NIS for a 3-room apartment.
Advantage: High and central.
Disadvantage: High prices.
In the coming weeks, we will survey neighborhoods in additional cities, including: Bnei Brak, Beit Shemesh, Modi'in Illit, Beitar Illit, Givat Ze'ev, Rechsim, Haifa, Har Yona-Nazareth Illit, Harish, Tel Zion - Kochav Yaakov, Safed, Netivot and Ofakim.
• Moshe Revach is the co-CEO of Empiria Real Estate and Finance, which develops and manages real estate ventures 02-6222255
