German Real Estate Firm Adler Reaches Agreement With Lenders
Troubled German real estate firm Adler Group SA has reached a non-binding agreement with bondholders, according to a company statement released on Thursday morning.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Troubled German real estate firm Adler Group SA has reached a non-binding agreement with bondholders, according to a company statement released on Thursday morning.
The deep freeze that’s gripped Europe’s real estate markets since borrowing costs jumped worsened at the start of the year as deals plunged to their lowest levels since 2011.
Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.
Vietnamese billionaire Pham Nhat Vuong pledged to invest at least another $1 billion of his personal wealth into VinFast Auto Ltd., providing the capital needed for expansion of the struggling electric vehicle maker.
Macrotech Developers Ltd., a real estate firm that operates under the brand name Lodha, expects pre-sales to grow about 20% in the year to March after reporting its highest ever quarterly revenue.
Jan 20, 2020
Bloomberg News
,(Bloomberg) -- Hong Kong has racked up a 10th year as the world’s least-affordable housing market, highlighting the inequality that has helped fuel months of protests.
The city topped Vancouver and Sydney as the most unaffordable housing market in 2019, according to a report Monday by urban planning policy consultancy Demographia. Hong Kong’s median property price declined slightly to 20.8 times median household income last year, compared to 20.9 times the year before.
The median multiple dropped in all of the 10 cities except Toronto, meaning housing has become somewhat more accessible for most people. Melbourne remained the fourth-most unaffordable housing market, while Toronto and Auckland climbed to sixth place.
Hong Kong’s sky-high property prices have long been a source of contention in the city, where about one-in-five residents live below the poverty line. Some have resorted to living illegally in steel boxes or industrial estates because they can’t afford a home.
How Hong Kong’s Sky-High Home Prices Feed the Unrest: QuickTake
The Demographia study covered 309 metropolitan markets across eight countries, including Australia, Canada, the U.K. and the U.S., as of the third quarter of last year.
To contact the reporter on this story: Shawna Kwan in Hong Kong at wkwan35@bloomberg.net
To contact the editors responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net, Peter Vercoe, Jun Luo
©2020 Bloomberg L.P.