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LUXURY HOMES & LUXURY REAL ESTATE

LUXURY HOMES & LUXURY REAL ESTATE

Over the past five years, housing prices in Caesarea, a privately owned village about 40 kilometers (25 miles) north of Tel Aviv, have risen 30 to 50 percent, the growth was spurred in part by Israel’s improved infrastructure; better roads and railroads have allowed for easier commutes from Caesarea to Tel Aviv

Caesarea’s golf course reopened after being redesigned by the golf course designer Pete Dye.

Though it has had little effect on housing prices, the economic downturn has slowed the volume of sales in Caesarea, villas were taking about four to six months to sell.

Housing prices vary according to size, age and situation; homes directly on the golf course or with Mediterranean views are more expensive.

Roman ruins at Caesarea’s beach, which is about a 10-minute walk from the home.

Small semidetached homes on smaller lots start around $1000, 000

Detached homes start at $1,5 million; larger and newer homes are $4 million or $8 million.

There are a few attached three-bedroom homes in the $700,000 range. And at the Neot Golf complex, 60-square-meter apartments start in the $250,000s. The majority of Caesarea’s housing stock, however, is in the $1 million to $7 million range.

WHO BUYS IN CAESAREA?

The majority of Caesarea homeowners are Israelis, many of whom commute to Tel Aviv or Haifa. Foreign buyers, who account for 10 to 15 percent of the population, are typically from the United States, France and London.

BUYING BASICS

There are no restrictions on foreign property ownership in Israel,

Buyers should estimate an additional 7 to 10 percent of the purchase price for side costs, which include a land-purchase tax ranging from 3.5 to 5 percent, a real estate agent fee (2 percent, plus a 16.5 percent value-added tax applied to the agent’s fee), legal fees (about 1 percent, plus tax), as well as registration and notary fees. A full year’s municipal tax is due when the property is registered. that amounted to around $8,000 for a typical Caesarea villa.

Financing up to 65 percent of the purchase price is usually possible.

TAXES AND FEES

Monthly municipal taxes are 1,100 shekels ($289); security is an additional 400 shekels ($105) a month. Membership to Caesarea’s country club, which is optional, is approximately $2,500 a year for a family; golf course membership ranges from approximately $3,000 to $7,000 a year.

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