New Construction in Givatayim for American Buyers
New Construction in Givatayim for American Buyers
Givatayim has almost no undeveloped land, so new apartments are created mainly through urban renewal. Older buildings are strengthened and extended through TAMA 38, or demolished and replaced through pinui-binui with larger, modern buildings. For American buyers, this means that buying new in Givatayim usually means buying into a renewal project, with existing owners, approvals and construction stages that all affect the outcome. This guide explains the process, the protections available and how to follow construction from the United States.
How New Apartments Are Created
In a TAMA 38 project, an existing building is reinforced and new units are often added on top or alongside. In pinui-binui, several older buildings may be replaced by a new building or complex. In both cases, the developer sells additional units to new buyers to fund the project. The existing owners usually receive renewed or new apartments, while buyers like you purchase the additional units.
What to Check Before Buying
Your lawyer should review the permit status, the agreement between the developer and existing owners, and the payment protection offered to buyers of new units. Ask about the expected construction stages and what happens if the timeline changes. It is also worth asking how many owners have signed, whether any objections are pending and how the developer is financing the project.
Permit status and approvals
Developer agreement with existing owners
Protection for every payment
Expected construction stages
Protecting Your Payments
Israeli law requires sellers of new apartments to protect buyers' payments, usually through a bank guarantee or insurance. Confirm that each payment you make is covered and paid into the correct project account. For a buyer in the US, this protection is a central safeguard, so keep copies of every guarantee in a secure place.
Specifications and Layout
Review the specification for finishes, safe room, storage, parking and air conditioning. Renewal projects on small plots may have compact layouts, so study the plans carefully. Ask for translations and written confirmation of any changes you request. Consider how natural light, noise from Katznelson Street or nearby roads, and views may differ between floors and sides of the building.
Following Progress from the US
Developers provide updates, and an independent engineer can visit at key stages. Existing residents of the building, who often follow the work closely, may also share observations. Agree on which communications will be in English, and account for the time difference when setting response expectations. A shared folder with the contract, guarantees and site reports keeps your advisors aligned.
Handover and Defects
A professional inspection before handover lists defects for the developer to repair. Israeli law sets warranty and repair periods for different defects. A representative with a power of attorney can attend if you cannot, with photographs and a written list. Keep all correspondence about repairs, as it helps if a warranty claim is needed later.
Financing and Tax
Payments during construction may be linked to a construction cost index. Financing and currency planning should follow the payment schedule. Consult an Israeli mortgage advisor, an Israeli tax advisor and a US CPA to plan transfers, reporting and purchase tax.
Frequently asked questions
Why is most new housing in Givatayim renewal based
The city has little vacant land, so new housing comes mainly from strengthening or replacing older buildings.
Is buying in a renewal project risky
It involves approvals and cooperation among owners, which can affect timing. Careful legal review and proper payment protection reduce risk.
Can I choose finishes from the US
Usually yes, within the developer's process. Get written confirmation of every change.
Who attends the handover
You or a representative with a power of attorney, ideally with a professional inspector.
Elkayam Group
Elkayam Group works directly in urban renewal, TAMA 38 and pinui-binui, and with its backing companies can provide guarantees, so we understand renewal projects from the developer side. Kobi Elkayam Real Estate Ltd is based on Rival Street in Tel Aviv, with three generations of family history and a team working in English, Hebrew and French.
Considering a new apartment in Givatayim Contact us for an informed review of the project.
+972-53-658-4252 · support@kobielkayamrealestateltd.com · Rival St 37, Tel Aviv