In Israel, it costs about $10,000–10,500 (ILS 37,500–40,000) per year to maintain property. Maintenance charges for an apartment are $20–$40/sq. m. per year, $40–90/sq. m. for a house and $70–180/sq. m. for prime property.

Property taxes

There is no single property tax in Israel: owners pay a monthly municipal tax called arnona, which varies by location and living area from $40 (ILS 150) for a three-bedroom apartment in Rishon LeZion, up to $145 (ILS 540) in an expensive Haifa neighbourhood.

Utility bills

Homeowners pay $150 (ILS 590) on average for electricity, gas, water and waste removal. Electricity costs about $0.13/kW•h, approximately $17 a month, and is paid once every two months. Water costs $0.8/m³ (ILS 3.0) and gas $2.6–5.2 (ILS 10–20) per month.

Repairs

It costs $300–400 (about ILS 1,200–1,500) per square metre to make minor repairs on an apartment in Israel while complete renovation costs start at $450 (ILS 1,700).

Management company fee

Property management fees are $80–130 (ILS 30–500) per month depending on the range of services required.

Insurance

Real estate in Israel can be insured against natural disasters. Coverage ranges from $26,000 to $50,000 (ILS 100,000–200,000) and premiumscost $160–260 (ILS 600–1,000) per year.