"A slowdown in Israel is a certainty and a sharp drop in foreign investment in both commercial and residential real estate is probable," predicts Excellence Investments CEO David Baruch. He made the comment during the annual conference of the Association of Contractors and Builders in Israel in Eilat on Friday. There were more than 950 participants at the event at the Princess Hotel.
Baruch added, "The sub-prime crisis has created capital distress at foreign banks, with the result that Israeli developers in international markets will find it difficult to obtain credit. The price of credit in Israel and overseas will go up."
