Determining if a building is part of a TAMA 38 project is a key piece of due diligence for any potential buyer or renter. TAMA 38 is a national urban renewal plan that allows developers to add floors and apartments to an older building in exchange for seismically strengthening it and upgrading its infrastructure, often adding elevators and balconies. This can fundamentally transform a property’s value and livability.
To find out if a building underwent TAMA 38, you can first look for visual cues: a noticeable difference in the architectural style of the top floors compared to the rest of the building, a newly added external elevator shaft, or new balconies that don’t match the original design. For official confirmation, you would check the building’s file (tik binyan) at the local municipal planning department. This file contains all the permits and plans, which will clearly state if a TAMA 38 project was approved and completed.
The impact on value is significant. A completed TAMA 38 project boosts the value of all apartments in the building, both old and new. For a buyer, purchasing an apartment in a post-TAMA building means you are getting a home in a structurally reinforced and modernized building with an elevator, for which you will pay a premium over a similar, un-renovated building nearby. For a renter, it also means a higher rent, but you benefit from the improved amenities. For example, a three-room apartment in an old building might rent for 5,000 NIS, but the same apartment after a TAMA 38 renovation with an elevator and balcony could rent for 6,000 NIS. The price reflects the enhanced quality and safety.
Too Long; Didn’t Read
- TAMA 38 is a national plan to strengthen and upgrade older buildings by adding new apartments and amenities like elevators.
- You can identify a TAMA 38 building by its new top floors, external elevator, or by checking the official building file at the municipality.
- A completed TAMA 38 project significantly increases the sale and rental prices of all apartments in the building.
- The higher price reflects the added safety of seismic strengthening and the modern amenities.
