Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
British Land Co. has sold its stake in Sheffield’s Meadowhall Shopping Centre, one of the largest shopping malls in the UK, to Norway’s sovereign wealth fund.
China’s latest housing initiative is aimed at vacant properties, a major pain point in a crisis that’s dragged on for almost three years. But analysts say the package of measures is still too small to end the rout.
Foreign buyers swooped in to purchase Chinese stocks on Friday as Xi Jinping’s government announced a slew of measures to bolster the housing market.
China’s property stocks need a sustainable turnaround in order to foster investor confidence that this year’s broader equities recovery can maintain, or even increase its momentum.
Sep 25, 2023
BNN Bloomberg
,A Toronto developer is crediting the federal government’s plan to remove GST from new rental buildings for its plan to bring 5,000 new housing units across the country.
Dream Unlimited Corp. announced plans to bring housing projects to urban centres in Ottawa, Saskatoon, Calgary and Toronto totalling more than 5,000 units.
Earlier this month, Ottawa announced it would remove the GST from new rental builds as part of its plan to boost the housing supply in Canada and address housing prices. Developers have largely applauded the move, as it represents about a 10 per cent savings on new projects.
“This legislation is a game changer for the development industry, and more importantly for Canadians,” Michael J. Cooper, president and chief responsible officer of Dream Unlimited, wrote in a news release Monday. “The housing crisis has impacted every urban centre from coast to coast. What this legislation unlocks is our ability to get shovels into the ground quickly at a time when it’s never been more critical to build new homes.”
Dream said it already has all the approvals needed to begin construction on its new projects, including its Ottawa development, which includes 438 affordable units.
The Ottawa development is being built in partnership with the Multifaith Housing Initiative of Ottawa and is near transit in the city’s Lebreton Flats area.