Buying New Construction in Israel from Belo Horizonte
Buying New Construction in Israel from Belo Horizonte
Buyers in Belo Horizonte have watched new towers rise in Belvedere, Vila da Serra and the southern zone, and they understand the logic of buying before completion. Israel also has a lively market for new apartments, but its legal protections, payment structure and planning rules are different. Jerusalem in particular has distinctive building requirements that shape what new homes look like. This guide explains how off-plan buying works in Israel, how the Sale Law protects buyers, what is special about building in Jerusalem, which other cities are active, how renewal affects timelines and how to follow construction from Minas Gerais, without naming projects.
How off-plan buying works
The developer sells units before or during construction and receives payments at agreed stages. The contract usually links the outstanding balance to a construction input index and includes a detailed technical specification.
Read the specification carefully with your lawyer, paying attention to materials, finishes, systems and the dimensions of rooms, balconies and storage. Compare the plans attached to the contract with what you were shown in the sales office, since marketing brochures are not binding and only the signed documents count.
The protection of the Sale Law
The Sale Law for apartments requires developers to secure buyers' payments above an initial amount, typically with bank guarantees. This protects you if the project is not completed.
Your lawyer should verify that each payment goes to the project account and that the corresponding guarantee is issued in your name before any money leaves Brazil.
Jerusalem and its building rules
Jerusalem requires most buildings to be faced with local stone, which gives the city its distinctive golden colour and affects construction methods and costs. Planning in historic and sensitive areas is also more restrictive.
New projects in Jerusalem therefore tend to follow the topography, with terraces, varied heights and attention to views. Understanding these rules helps you evaluate plans and timelines.
Other cities in focus
Modiin and Beit Shemesh have many new neighbourhoods popular with families. The Tel Aviv area has numerous renewal projects in Ramat Gan, Givatayim and Bat Yam, and the Sharon cities of Raanana, Kfar Saba and Netanya continue to grow.
Haifa and Beer Sheva offer newer developments at a different scale, often near universities and technology parks. For a buyer who intends to live in the apartment later, the neighbourhood's schools, synagogues and parks matter most; for one who plans to let it, proximity to employment, transport and campuses comes first.
Renewal and timelines
Many new apartments come from pinui-binui or TAMA 38 projects. These offer established locations, but their timelines depend on resident agreement, permits and financing.
Ask your lawyer to assess each project's status realistically, and plan your finances to accommodate possible delays.
Check whether a building permit has been issued
Confirm the financing bank and the project account
Review compensation for delays in the contract
Keep records of all correspondence
Following the works from Minas
Request regular updates and photos from the developer, and consider hiring an independent engineer to inspect the apartment before handover. Keep your lawyer informed of every payment. If relatives live in Israel, ask them to visit the site occasionally; a short video from the street gives a realistic sense of progress that official reports sometimes soften.
The final cost is shaped by purchase tax, the terms of any Israeli loan and the way reais are converted into shekels over the construction period. It helps to hold a short joint call, at the start, between your Israeli tax advisor, your Israeli bank and your Brazilian accountant, so that each payment in the schedule has its source of funds and its reporting mapped out in advance.
Frequently asked questions
Why are Jerusalem buildings faced with stone
Municipal rules require most buildings to use local stone facing, preserving the city's character. This affects design and construction.
What happens if the developer goes bankrupt
Payments covered by a Sale Law bank guarantee are designed to be claimed back through that guarantee. Always confirm the guarantee with your lawyer before paying.
Can I finance an off-plan purchase with an Israeli mortgage
It is possible. Israeli lenders do work with foreign residents, though they tend to ask for a larger own contribution and more documentation of Brazilian income. An independent mortgage advisor can compare what different banks offer.
How do I inspect the apartment at handover
Attend yourself or send an engineer with a power of attorney. List all defects in writing to support repair requests.
Elkayam Group
Elkayam Group was built by a family that entered industry in the forties and has worked across three generations, today under Kobi Elkayam Real Estate from Rival Street, Tel Aviv. The company is active in development, TAMA 38, pinui-binui and other forms of urban renewal, and it designs combination and complex deals in which guarantees are arranged through its partners and backing companies. Buyers from Belo Horizonte who want to understand how Israeli projects are planned and delivered can talk it through with the office in English, French or Hebrew.
Interested in a new apartment in Israel Contact Elkayam Group for an orientation.
+972-53-658-4252 · support@kobielkayamrealestateltd.com · Rival St 37, Tel Aviv