New Developments

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The new property market in Israel is booming. Driven by sustained demographic growth, public urban renewal programs and demand structurally higher than supply, new housing (Dira Meta Bonénou) now represents nearly 30% of the country's annual transactions. From luxury projects on the waterfront to Bauhaus towers reconstructed via Tama 38 in the heart of Tel Aviv, buying off-plan in Israel offers unique opportunities — provided you master the local market specificities.

Tama 38 and Pinui-Binui: the Israeli urban revolution

Two public programs are profoundly transforming the Israeli urban landscape. Tama 38 (Tochnit Matari Argémanit 38) is a national scheme that allows condominiums to reinforce their building against earthquakes, by renovating or completely reconstructing it. The developer finances the operation in exchange for building additional floors sold on top. Result: new apartments in established historic neighborhoods, often at more attractive prices than new construction on virgin land.

Pinui-Binui (evacuation-reconstruction) goes further: entire complexes of aging buildings are demolished and replaced by modern, denser and better-equipped complexes. Former owners receive a new apartment of equivalent or larger surface area in the new building, and the developer markets the additional units.

These two programs are particularly active in Tel Aviv, Ramat Gan, Bat Yam, Holon, Petah Tikva and Jerusalem intra-muros.

Major new construction zones

Tel Aviv district : luxury projects in Neve Tzedek, residential towers on Rothschild, rehabilitation via Tama 38 throughout the city, new complexes in the north (Gliloth) and east (Ramat Aviv). Prices starting at ₪2,500,000 for a 3-room in the periphery, exceeding ₪10,000,000 for luxury in city center. New projects in Tel Aviv →

Netanya : spectacular transformation of the waterfront (Nitza, Ir Yamim) and massive development of southern neighborhoods (Ramat Poleg, Kiryat Nordau). French-speaking demand strongly supports this market — Netanya is the first choice for French first-time buyers and investors. New projects in Netanya →

Ashdod, Ashkelon, Bat Yam, Hadera : emerging cities where the majority of new accessible projects are concentrated. Prices from ₪1,800,000 for a new 4-room delivered turnkey. Bat Yam in particular is experiencing spectacular urban transformation, with towers designed by international architects.

Jerusalem : development of new residential neighborhoods (Har Homa, Gilo, Arnona) and major renovations in central neighborhoods via Pinui-Binui (Katamon, Bayit Vagan). The Jerusalem market remains solid thanks to demand from religious communities and diasporas.

Emerging cities — Raanana, Modi'in, Beit Shemesh — attract families seeking a modern residential environment with better value for money than greater Tel Aviv.

Buying off-plan: key steps

Off-plan purchase (Kniyat Al HaNeyar) follows a regulated process. The sale is made via a preliminary contract with the developer (Hesken Mekhira), followed by staged payments according to construction progress: about 10% at signing, 30% after foundation delivery, 50% at weatherproofing, then the last 10% at turnkey delivery. Final delivery occurs between 18 and 36 months after signing, or more for large complexes.

Before signing, your lawyer must imperatively verify: that the developer is licensed and has the required bank guarantees; that the building permit (Hetzer Bniya) is valid; that technical specifications (Mifrat Tekhni) are precise and binding — surface area, materials, equipment, finishes; and that the contract provides penalties in case of delivery delay.

Guarantees and buyer protection

Israeli law strongly protects off-plan buyers via the sales guarantee law (Hok HaMakhar). The developer must mandatorily provide a bank guarantee (Arvout Mekhira) covering 100% of amounts paid, refundable if the project fails or if the developer goes bankrupt. This guarantee is non-negotiable — refuse any developer who does not provide it.

The ten-year guarantee covers major construction defects for 10 years after delivery. An annual guarantee completes this protection for finishes during the first year. Since 2024, developers must also provide enhanced fire protection guarantee on materials used.

New property taxation

New projects are subject to VAT (currently 18%) included in the price displayed by the developer. Mas Rechisha applies as for existing properties, with the same scales according to your status: resident, Oleh Chadash or non-resident. Olim Chadashim benefit from a very advantageous reduction on their first purchase in Israel.

Certain projects benefit from municipal incentive programs (Mehir Lamishtaken, Mehir Matara) with capped prices, reserved for eligible Israeli residents according to income, age and family situation criteria.

Why buy new in Israel?

Four major advantages: zero work to plan — you move into a turnkey property ready to live in; modern energy and anti-seismic standards — essential in a seismic risk region; solid ten-year guarantees protecting your investment; and freedom to choose certain finishes (tiles, kitchen, sanitary) within the limits of the developer's specifications.

Appreciation at delivery is often 15 to 25% compared to the off-plan purchase price, depending on project quality, location and construction duration. In high-demand areas like Tel Aviv or Netanya waterfront, this appreciation can reach 30-40% over 3-4 years.

For more details, consult our complete article Buying off-plan in Israel: new projects, Tama 38, guarantees and our Ultimate Guide to Real Estate in Israel.

Exclusive 5 2031

Apartment

Kiryat Yovel, Jerusalem

2,940,000 ₪

$964,320 | €823,200

3 rooms

89 m²

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with terrace,Calm,High standing , Near to the sea,Well arranged,Clear,Roomy,Splendid,Mini penthouse,quality project

Penthouse Recommandé

with terrace,Calm,High standing , Near to the sea,Well arranged,Clear,Roomy,Splendid,Mini penthouse,quality project

Sokolov, Tel Aviv

10,920,000 ₪

$3,581,760 | €3,057,600

4 rooms

160 m²

Open view Garden

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With not missing!,with terrace,Calm,Clear,Splendid,New,quality project,Roomy,Sight on the sea

Apartment

With not missing!,with terrace,Calm,Clear,Splendid,New,quality project,Roomy,Sight on the sea

quarter of the sea, Tel Aviv

11,800,000 ₪

$3,870,400 | €3,304,000

3 rooms

121 m²

Open view Garden Storage room

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Questions fréquentes sur All All Cities

Tama 38 reinforces or reconstructs a single existing building against earthquakes, adding floors sold by the developer. Pinui-Binui demolishes a complex of aging buildings to construct new denser ones — former owners receive a new apartment of equivalent or larger surface area in the new building. Tama 38 is faster (12-24 months), Pinui-Binui longer (3-7 years) but transformational.

Generally: 10-15% upon signing the preliminary contract, 30% after foundation delivery, 25% at structural completion, 25% at weatherproofing, and 10% at turnkey delivery. Exact percentages vary by developer and project. Each payment is secured by the developer's bank guarantee and should only be made after validation of the stage by your lawyer.

Three guarantees are legally mandatory in Israel: the bank guarantee (Arvout Mekhira) which protects 100% of amounts paid in case of developer bankruptcy; the ten-year guarantee on major construction defects; and the annual guarantee for all finishes in the first year. Categorically refuse any developer who does not provide these three guarantees.

For a small building or Tama 38 project: 18 to 24 months. For a large residential complex: 24 to 36 months. For complex projects (Pinui-Binui, tall towers): 36 to 60 months. Delays are common in Israel — your contract must provide clear penalties (generally 0.5% to 1% of the price per month of delay).

Partially, yes. The developer provides a choice of standard finishes (Mifrat Tekhni): tiles, kitchen, sanitary, doors. You can generally choose from these options without extra cost. For superior finishes, the developer often offers paid upgrades. Structural modifications are rarely possible after signing.

Yes, in Israel, developers systematically display the price including VAT (currently 18%). Beware of prices that seem abnormally low — always verify that it's 'Kolel Maam' (VAT included) in the contract.

The mandatory bank guarantee (Arvout Mekhira) reimburses you 100% of amounts paid. This is the key security of the Israeli new property market. You can also, depending on cases, obtain the property in its current state if another developer takes over the project. This is why verifying the bank guarantee is the most critical step in your due diligence.

Yes, without any legal restrictions. However, certain incentive programs (Mehir Lamishtaken, Mehir Matara) are reserved for eligible Israeli residents. The Mas Rechisha for non-residents is 8% from the first shekel — to be budgeted from the start. The minimum mashkanta down payment required will be 50%.

Yes, this is the practice of off-plan resale (Mechira al HaNeyar). You assign your contract to a new buyer with the developer's agreement. Fiscally, capital gains realized before delivery are subject to Mas Shevach like all real estate. This strategy is common among investors who speculate on appreciation during construction.

Five classic pitfalls: signing without the bank guarantee being in place; accepting a vague Mifrat Tekhni without specifying brands and models; not providing for delay penalties in the contract; forgetting to include parking and cellars in the price (often sold separately); and neglecting additional costs (initial Vaad Bayit, connections, exterior developments). A specialized lawyer detects these pitfalls upstream.