Buying New Construction in Israel from Florianopolis
Buying New Construction in Israel from Florianopolis
Florianópolis has seen many new residential projects in recent times, and buyers on the island are often familiar with paying for a flat during construction. In Israel, off plan purchases are widespread and regulated by a specific law that protects buyers. For someone buying from Santa Catarina, the key is to understand that law, choose the right project, negotiate a fair contract and follow the process from a distance. This guide explains what the law requires of developers, criteria for choosing a scheme, important contract points, staged transfers, remote monitoring, independent inspection at delivery and taxes and registration.
What the law requires of the developer
The Sale Law requires developers to protect money received before delivery, usually with a bank guarantee or insurance for each payment. Payments are made through vouchers into the project account at the accompanying bank. Your lawyer verifies that each guarantee is issued correctly in your name.
It helps to know what the guarantee does not do. It protects the money you paid if the developer cannot deliver, but it is not a promise about finish quality or timing. Those matters are governed by the contract and by the separate rules on defects, which is why both documents deserve careful review.
Criteria for choosing the scheme
Consider the developer's record, the permit status, the accompanying bank, the location and the specification. Look at transport links, schools and planned public services in the area. Visit a completed project by the same developer or ask for references from previous buyers.
On the island you may be used to projects that sell a lifestyle as much as floor space. Israeli marketing does the same, so look past the renderings to the permit, the bank and the specification.
Developer reputation and delivered projects
Permit and planning status
Transport and services nearby
Specification in the contract annex
Contract points
Your lawyer should review delivery dates, compensation for delay, indexation, the process for internal changes, parking and storage rights and any clauses allowing the developer to modify plans. Negotiation is possible on several of these points.
Look closely at the payment schedule itself. Some contracts ask for a large share early, others spread payments more evenly as the works progress. The pattern shapes your currency exposure and the timing of transfers from Brazil, so discuss it with your lawyer and your accountant before signing.
Staged transfers
Payments are spread across the construction period, so you will send money from Florianópolis several times. Use an authorised bank and proper exchange contracts. Exchange rates and indexation can change the cost of later payments. A Brazilian accountant will explain how to declare each instalment.
Remote monitoring
Request regular updates and photos. A local engineer or representative can visit at key milestones. Keep a digital folder with the contract, vouchers, guarantees and correspondence, accessible to your lawyer and accountant.
Agree on a few moments when an engineer should visit for you, for example when the frame is finished, when interior work starts and shortly before delivery. Brief written reports with photos at those points let you raise concerns while changes are still possible.
Delivery with independent inspection
Before accepting the flat, hire an independent engineer to inspect it and produce a written list of defects. The developer is responsible for repairs within legal periods. Also confirm that the occupancy certificate has been issued.
Taxes and registration
Israeli purchase tax is due after signing. Final registration at the Land Registry may take time, and your rights are protected by a caution note in the meantime. In Brazil, declare the asset according to amounts paid. An Israeli tax advisor and a Brazilian accountant should confirm your obligations.
Once the building is registered, make sure the transfer to your name is completed and that you receive a copy of the updated title. Keep it with your Brazilian tax records.
Frequently asked questions
Who issues the guarantee
The accompanying bank or an insurer, based on payments made through the project account. Your lawyer checks each one.
Can I change the layout of my flat
Often within a set period and at extra cost. Get any agreement in writing.
Should I hire an engineer for delivery
Yes. An independent report is the best basis for requesting repairs.
How do I report the purchase in Brazil
By the amounts paid, following guidance from a Brazilian accountant.
Elkayam Group
Kobi Elkayam Real Estate Ltd is the Tel Aviv real estate company of Elkayam Group, a family since the forties and a third generation now at the helm. Based on Rival Street 37, we know new construction from the developer side, working in development, urban renewal, pinui-binui, TAMA 38 and complex combination deals with backing companies and partners, and offering guarantees where needed. We speak Hebrew, English and French and can help a buyer from Florianópolis prepare the right questions for a developer.
Evaluating a new build in Israel from Florianópolis. Contact us to go through the scheme together.
+972-53-658-4252 · support@kobielkayamrealestateltd.com · Rival St 37, Tel Aviv