Fresh Stimulus Propels Emerging Markets to Fourth Week of Gains
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
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Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Deutsche Bank AG has entered a capital-relief deal with the European Investment Bank that allows the German lender to grant discounts on more than €600 million ($652 million) of green mortgages in its home market.
A unit of Abu Dhabi’s Mubadala Investment Co. said it anticipated a roughly $315 million credit hit related to loans issued to the now-insolvent Signa real estate conglomerate.
The Teranet-National Bank composite house price index which tracks home prices in 11 of Canada's largest cities remained stable from March to April.
May 10, 2018
There’s another sign that Canada’s second-largest city is the next hot housing market.
The Greater Montreal Area posted the country’s biggest increase in detached luxury home prices in the first quarter, with the median price climbing more than nine per cent to $1,569,515 from the same period in 2017, according to a Royal LePage report released Thursday.
Meanwhile, the median price of a luxury condominium in Montreal rose nearly four per cent year-over-year to $1,247,833, Royal LePage said.
“Compared to other world-class cities, Montreal offers the best real estate value on the planet,” Phil Soper, president and CEO of Royal LePage, said in a release.
“A buyer’s purchasing power is significantly higher in the Greater Montreal Area when compared to other Canadian and international cities.”
Montreal home sales surged 10 per cent year-over-year in April, while condo sales soared 18 per cent, according to data from the Greater Montreal Real Estate Board released earlier this week.
Montreal’s big gains come amid softening demand in Vancouver and Toronto’s detached luxury homes segment, as both buyers and sellers in the country’s hottest housing markets face a number of new federal and provincial housing measures.
In the Greater Toronto Area the median price of a luxury detached home remained relatively flat, down about 0.2 per cent at $3,522,117, while the median price of a luxury condo rose more than 10 per cent to $1,710,365.
The median price of a Greater Vancouver luxury detached home was up 5.2 per cent to $5,792,941 in the same period, while the price of a luxury condo rose seven per cent to $2,503,873.
Royal LePage also said it expects the median price of a detached home in Greater Vancouver will decline three per cent in the first quarter of 2019, compared with the same period this year.