Buying New Construction in Israel from Belem
Buying New Construction in Israel from Belem
In Belém, new launches in neighbourhoods such as Umarizal, Nazaré and Batista Campos are part of the market, and many buyers in Pará know the rhythm of paying during construction. In Israel, buying off plan is widespread and regulated by legislation that obliges developers to secure buyers' payments until handover. For those buying from far away, understanding those guarantees and choosing the right project are the pillars of security. This guide explains how the law protects the buyer, how to choose a launch, why you need your own lawyer, how to plan staged transfers, how to follow the works remotely, why an independent inspection matters and what to know about taxes and registration.
How the law protects the buyer
The Israeli Sale Law requires developers to secure money paid before delivery, usually with a bank guarantee or insurance policy. Each instalment is paid with a bank voucher into the dedicated project account, and a matching guarantee follows. Your lawyer checks that each guarantee is valid and in your name.
Choosing the launch
Compare projects on the developer's track record, the permit status, the accompanying bank, the delivery date, the specification and the neighbourhood. If the family will use the flat, consider synagogues, schools and transport as well as the building itself.
Buyers used to high rise launches near the Guajará bay will find that Israeli projects vary widely, from boutique buildings in Jerusalem stone to large towers on the coast and whole new districts in growing cities. Decide first which kind of setting suits your family.
Developer track record
Permit and planning status
Accompanying bank
Neighbourhood and community services
Contract and your own lawyer
Never rely on the developer's lawyer. Your own Israeli lawyer reviews and negotiates the contract, including delivery dates, delay compensation, indexation, internal changes, parking and storage, and checks the payment and guarantee mechanism.
Pay special attention to what the price includes. Kitchens, air conditioning, flooring and bathroom fittings are listed in the technical specification, and anything not listed may cost extra. Upgrades chosen during construction can be convenient but should be priced and agreed in writing.
Transfers in stages
Payments follow the construction, so money leaves Belém several times. Use an authorised bank and proper exchange contracts. Currency movements and indexation affect the real cost of each instalment. A Brazilian accountant will explain how to record the payments on your tax return during construction.
Some families prefer to hold a reserve in a foreign currency account ahead of time, others transfer only when each payment falls due. Neither approach is right for everyone, so discuss the options with your bank and accountant.
Remote monitoring
Ask for regular progress reports and photos. A local engineer can visit at key stages on your behalf. Keep all documents, vouchers and guarantees in one organised digital folder shared with your lawyer and accountant.
Relatives living in Israel can sometimes visit the site too, but a professional engineer knows what to look for, and a written report carries more weight if a dispute arises.
Delivery and independent inspection
Before accepting the flat, have an independent engineer inspect it and list defects in writing. The developer must repair defects within legal periods, and the report supports your claims. Confirm that the occupancy certificate has been issued.
Plan to be present at delivery if possible, or send a trusted representative with the engineer, since this is the moment to note everything before signing the handover protocol.
Taxes and registration
Purchase tax is due in Israel after signing. Registration in your name may only happen after the whole building is registered, with a caution note protecting you in the meantime. In Brazil you report the flat on the basis of instalments already paid. Your Israeli tax advisor and Brazilian accountant can confirm the details.
Frequently asked questions
What protects the money I pay
The statutory guarantees, which are linked to every instalment paid through the correct channel.
Do I really need my own lawyer
Yes. Your own Israeli lawyer protects your interests, not the developer's.
How can I follow the works from Belém
Through regular reports and photos, and a local engineer who visits at key stages.
How do I declare the purchase in Brazil
Usually by what you have paid so far each year, following your Brazilian accountant's guidance.
Elkayam Group
Kobi Elkayam Real Estate Ltd belongs to Elkayam Group, a family that has been in business since the forties and is now led by its third generation. Working from Rival Street 37 in Tel Aviv, we see construction from the developer side through development projects, TAMA 38, pinui-binui and combination deals, carried out with backing companies and partners that allow us to give guarantees. Our Hebrew, English and French speaking team can help a buyer from Belém put the right questions to a developer.
Evaluating a new build in Israel from Belém. Contact us and we will review it with you.
+972-53-658-4252 · support@kobielkayamrealestateltd.com · Rival St 37, Tel Aviv