Private land in Israel
There are no restrictions on private land transfers in Israel. Private land can be purchased or leasaed by Israeli Arabs or by non-citizens. Such land can be, and has been, purchased by Israeli Arabs and by foreigners, including Arab foreigners.

The Israeli government has announced plans to privatize much of Israel's state-owned land and offer cheap building permits to Israelis willing to move to less-desirable parts of the country, away from the crowded central area.

Contrast with Arab Policies
The relatively unrestricted access to land in Israel is in sharp contrast with Arab policies. During the 1948-1967 Jordanian occupation of Judea and Samaria (the West Bank), for example, Jews were forbidden to live there under pain of death. In 1973, under the direct instructions of King Hussein, the government of Jordan passed the Law for Preventing the Sale of Immoveable Property to the Enemy. The "enemy" defined in Article 2 as:

... any man or judicial body [corporation] of Israeli citizenship living in Israel or acting on its behalf.
This law, or equivalent, continued in effect under the Palestinian Authority (PA). By 1997, 172 people had been sentenced to death under this law, although "only" about 10 have been executed. The law is invalid under the Oslo II agreement and is one of the many violations of the Oslo peace process agreements by the PA. Palestinian land dealers in PA controlled areas have been murdered as "collaborators", a practice that was publically condoned by Yasser Arafat.

In 1995, following the peace treaty between Israel and Jordan, the Jordanian Parliament repealed the 1973 law and replaced it with milder statutes that still effectively bar Israelis from purchasing or leasing land in Jordan.

http://www.palestinefacts.org/pf_1991to_now_israel_land.php