Strong shekel hits Israeli real estate cos, Europe
Raising debt in shekels for assets valued in euros and sterling has dealt a painful blow to the profits of Israeli real estate companies.
Newsrael News Desk 29.08.2022
Globes reports - Even before the Russia-Ukraine war, and major economic crises, the biggest danger was that most of these real estate companies have continued to raise major debt here in Israel, where they have reputations with institutional investors, while the properties have been purchased, valued every quarter and yield monthly rents in foreign currency - which makes the investment above all dependent on the currency exchange rates, rather than supply and demand in each of the overseas real estate markets.
Source - Globes - Image - Shutterstock
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