Israeli Housing Prices: Skyrocketing on Fuel of Undeclared Income

Tens of billions of shekels in laundered 'black money’ is pushing the real-estate market higher.

Sep 11, 2014 12:50 PM

How do people buy property for investment in Israel? Usually, using “black money” – undeclared income that they’re laundering by buying apartments for investment, according to the Tax Authority. No small...

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