Greek Banks Set for First Payouts Since 2008 on ECB Approval
The European Central Bank will allow Greek banks to make their first shareholder payouts in over a decade as the country emerges from a painful post-crisis restructuring.
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The European Central Bank will allow Greek banks to make their first shareholder payouts in over a decade as the country emerges from a painful post-crisis restructuring.
China’s protracted property downturn is eroding the balance sheets of the nation’s largest state banks as their bad loans creep up.
Embattled German landlord Adler Group SA has asked its bondholders for permission to sell an unfinished apartment development at a 47% discount to its 2022 valuation, as the company races to repay its vast debt load.
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The Bank of Korea warned Thursday that a further slump in the real estate sector would undermine broader economic activity, as it pointed to worsening delinquencies among developers in the latest signal of continuing woes in the credit market.
Nov 24, 2017
The Canadian Press
TORONTO -- The Building Industry and Land Development Association says the Greater Toronto Area's supply of newly constructed condos last month hit its highest level since it began tracking that data about 15 years ago.
The group says that of the 5,377 new homes sold in the GTA in October, about 91 per cent of the units were multi-family homes, condo apartments in high-rise and mid-rise buildings and stacked townhomes, while the remaining nine per cent were low-rise, single-family homes.
Condo sales for October were 81 per cent above the 10-year average of 2,697, and the highest October yet recorded, while low-rise sales were 64 per cent below the 10 year average of 1,388.
As of the end of October, 39,476 new homes have been sold in the GTA this year, 82 per cent of them condo apartments in high-rise and mid-rise buildings and stacked townhomes.
In addition to high demand with limited supply, price growth in Toronto housing has been fuelled by appreciation in townhomes and condos, according to the Toronto Real Estate Board.
That's supported by the association's report that the average price of available new condo apartments in high-rise and mid-rise buildings and stacked townhomes was $677,456 in October, up about 2.4 per cent from September.
The group says the average price of available new single-family homes in the GTA was about $1.22 million, up about one per cent from September.