China Consumption Unexpectedly Slows in Warning Sign to Economy
China’s economic recovery tilted even further toward manufacturing, leaving it more vulnerable to trade barriers and highlighting the stakes of a new bid to shore up domestic demand.
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China’s economic recovery tilted even further toward manufacturing, leaving it more vulnerable to trade barriers and highlighting the stakes of a new bid to shore up domestic demand.
China announced its most forceful attempt yet to shore up the beleaguered property market, easing mortgage rules and encouraging local governments to buy unsold homes from developers for conversion into affordable housing.
A new Asia hedge fund firm created by a former Goldman Sachs Group Inc. managing director will open its Hong Kong office at The Henderson.
Luxe hotelier Banyan Group is teaming up with developer RAV Bahamas Ltd. to create a lavish playground on the isle of Bimini, 30 minutes from Miami.
China’s strong economy and diverse trade partners will help mitigate the impact of additional US tariffs, according to a spokesperson for the nation’s statistics bureau.
Jun 28, 2021
BNN Bloomberg
,Demand for rental properties in the Greater Toronto Area is showing signs of a slow recovery after suffering a severe blow from COVID-19, a new report showed.
The average rental rate per square foot in the GTA for all property types rose to $1,999 in May, up $22 from the previous month, according to data by Bullpen Research & Consulting and TorontoRentals.com. Rental rates in the city rose 2.2 per cent since January to $2.80, the report said.
The increase indicates rates may have hit a bottom in the first quarter of 2021 following the sharp declines seen throughout 2020 due to the pandemic. Monthly rents were still down in May by 11.4 per cent year-over-year.
The average monthly rent for condos in the GTA increased 1.7 per cent month-over-month to $2,109, according to Bullpen Research. Rental apartments remained steady, seeing only a 0.3 per cent monthly increase to $1,900 while monthly rental rates for single-family homes rose by 1.3 per cent month-over-month to $2,859.
The report said Toronto may be only two to three months away from experiencing the strong lease-up activity currently seen in other large American cities including New York, San Francisco and Chicago.
“With Toronto entering the next stage of COVID-19 reopening, tenants will be reminded of the benefits of a centrally located apartment or condominium rental, as patios fill up and boutique retail shops open,” said Ben Myers, president of Bullpen Research, in a statement.
Bullpen forecasts GTA rental rates will grow by 12 to 14 per cent next year as COVID-19 restrictions continue to be lifted.