According to the IRS, in 2017, Israel dropped the sale of luxury homes.
So, in January-November last year on the local market was sold 74 of residential property worth 10 million shekels and above, whereas for the same period in 2016 were concluded 126 such deals.
Thus, the decline in sales of apartments at a price not less than 10 million shekels was 41%. The volume of sales on the market of elite housing for the period decreased by 43% from 1.9 billion shekels to 1.07 billion shekels.
The main reason for this was the increase in the tax on purchase of apartments to investors and foreign nationals in June 2015.
Recall that in 2016 the sale of luxury homes in Israel fell by 53% compared to the figure of 2015.
— Sale, purchase and rent housing in Israel