Pinui Binui in Giv'at Ze'ev — The Role of the Broker and How Not to Lose

Old buildings in Giv'at Ze'ev — especially in Giv'at Ze'ev East and North — are at various stages of pinui-binui processes. For apartment owners, this is an opportunity that can double the value of the property — if they know what to do.

What is Pinui Binui in Giv'at Ze'ev?

A plan where a developer demolishes an old building and builds a new one — and the apartment owners receive a new apartment in the new building, usually larger. The profit for the developer comes from adding floors and new apartments that he sells.

What is the Role of the Broker in Pinui Binui?

The role of a broker who knows Giv'at Ze'ev in the pinui-binui process is critical:

• Early Identification — knowing which building is about to undergo the process and advising to buy before the price rises
• Evaluating Developer Offers — not every pinui-binui offer is the same. An experienced broker will check: how many additional square meters? What are the construction specifications? What is the developer's history?
• Negotiation Management — representing the apartment owners against the developer to increase their rights
• Advice on Timing of Sale — when is it better to sell: before the process, during, or after?

What are Your Rights?

• Every apartment owner must receive a replacement apartment (rental) during the construction period
• The new apartment must be larger (at least about 12 additional square meters)
• The developer bears the legal costs of the apartment owners
• Eviction cannot be imposed on apartment owners (a minimum of 80% agreement is required)

What are the Common Mistakes?

1. Signing an agreement with the first developer who comes — without comparing offers
2. Not hiring an attorney and appraiser on behalf of the tenants
3. Rushing to sell the apartment before the process is validated — and missing out on the value increase

Buildings in Giv'at Ze'ev that are About to Undergo Pinui Binui

Contact Merkaz HaNekhasim for a local update on the specific buildings in Giv'at Ze'ev that are in an advanced process. Such information does not always appear online — but those who know the neighborhood are aware. See also available properties in Giv'at Ze'ev.