Prices in the Israeli real estate market are delineated in dollar terms, a convention which the market has adopted due to the fluctuations of the shekel, thus providing a steady frame of reference when comparing offers, and negotiating. Once contracts are signed transactions are converted to the shekel amount and linked to the Israeli inflation index. Prices are quoted per rent-able square meter, called “gross space”. The rent-able meter is measured from the outside wall, and includes the relative portion of the building’s common area and service core (lobby, elevators, stairwell, machinery rooms, etc.). The difference between gross and net space ranges from 10 – 15% in light industrial properties, to 25 – 35% in fully serviced office towers.