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.
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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.
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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.
Jun 30, 2021
Bloomberg News
,U.S. pending home sales unexpectedly rose in May by the most in nearly a year as low borrowing costs paired with increased listings bolstered demand.
The National Association of Realtors’ index of pending home sales increased 8 per cent from April to a four-month high of 114.7, according to data released Wednesday. The median estimate in a Bloomberg survey of economists called for a 1 per cent decline.
The pickup in contract signings signals demand for homes remains strong despite record-high prices. Further, the reopening of the economy and the approaching end of the moratorium on foreclosures have the potential of boosting the supply of available homes later this year.
“The housing market is attracting buyers due to the decline in mortgage rates, which fell below 3 per cent, and from an uptick in listings,” Lawrence Yun, chief economist at the NAR, said in a statement. He added that buyer interest remains robust, helped by recent stock market gains.
Pending home sales increased across all U.S. regions last month, with the Northeast and West posting the largest gains.
Compared with a year earlier, contract signings were up almost 14 per cent on an unadjusted basis.
A separate report last week showed that sales of previously owned U.S. homes fell for a fourth straight month in May as higher home prices and lean inventories weighed on home buying.