As the Israeli shekel strengthens against the US dollar, real estate transactions in Israel are now frequently quoted in Israeli shekels rather than in US dollars, as used to be the case.
How does this trend affect Israeli real estate contracts?
When the US dollar was on the rise, rather than the shekel, contracts were usually quoted in US dollars and sellers would get more shekels for their apartments as the dollar rose. Foreign purchasers did not lose out as long as they converted their dollars on the day of payment. The only losers were those purchasers who were holding Israeli currency. As the dollar exchange rate rose, they needed to find more shekels to make their payments.
