
Evergrande Faces Final Chance to Avoid Liquidation by HK Court
Two years after its default marked a key moment in China’s property crisis, the world’s most indebted developer may be heading for another bleak milestone: liquidation.
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Two years after its default marked a key moment in China’s property crisis, the world’s most indebted developer may be heading for another bleak milestone: liquidation.
A normally sedate part of the debt markets used by the finance industry to transfer mortgage default risk has been roiled after insurer Arch Capital Group Ltd. called $1.7 billion of the securities at par when they had been trading at a premium.
The Upper West high-rise overlooking Berlin’s bustling Kurfürstendamm shopping boulevard is one of many glittering trophies in the portfolio of Rene Benko’s collapsing Signa, but its robust valuation reflects how much pain is in store in the cleanup of the real estate empire.
Housing prices in Sweden have resumed a decline as the Nordic nation’s economy is in a recession and borrowing costs continue rising.
Real estate finished November as the second best performing group in the S&P 500 Index adding 12%, trailing slightly behind tech’s 13% gain. The momentum was fueled by bets the central bank may begin cutting rates as early as next year.
Jul 12, 2019
Bloomberg News
,Toronto’s apartment crunch is finally easing as new supply hits the market and the removal of rent controls leads to record units on the drawing board, according to a new report.
The vacancy rate rose to 1.5 per cent in the second quarter, the highest since 2015, when research firm Urbanation began tracking the data. Rent increases eased to 7.6 per cent from 10.3 per cent last year, bringing the cost of an average-sized unit of 794 square feet to $2,475 ($1,894).
Conditions eased as nine buildings totaling 3,078 units began occupancy in the 12 months through June, a 25-year high for annual completions. While construction has taken a step back, the number of units proposed by builders reached a record 44,093 units in the second quarter, Urbanation said Friday.
“The growth in purpose-built rental applications follows the provincial government’s recent removal of rent control for new buildings,” according to Urbanation. Other programs to encourage new rental housing such as deferrals for development charges and the expansion of low-cost construction loans from Canada Mortgage & Housing Corp. also helped, the Toronto-based research firm said.