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.
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.
Jun 2, 2017
Reuters
,Home sales in the Vancouver region's once-hot housing market fell in May compared with a year ago, but prices climbed from earlier in the year as the market continued to rebound from a foreign buyers tax implemented in 2016, data showed on Friday.
The benchmark price for all types of residential properties in Metro Vancouver, Canada's most expensive real estate market, was $967,500 in May, the Real Estate Board of Greater Vancouver said. That was up 2.8 per cent from April and 8.8 per cent higher than a year earlier.
Sales fell 8.5 per cent from a record peak a year earlier, but surged 22.8 per cent from April and were 23.7 per cent above the 10-year sales average for May, the industry group said.
"While sales are inching closer to the record-breaking pace of 2016, the market itself looks different. Sales last year were driven by demand for single-family homes. This year, it's clear that townhomes and condominiums are leading the way," the board's president, Jill Oudil, said in a statement.
"First-time buyers and people looking to downsize from their single-family homes are both competing for these two types of housing," she added.
Sales in Vancouver's housing market have slowed since the provincial government of British Columbia imposed a 15 percent foreign buyers tax in August 2016 amid concern that speculation by global investors, mostly from China, was fuelling a bubble.
New listings for all types of properties were down 3.9 per cent from a year ago but up 23.2 per cent from April.
Detached homes led the month-over-month increase in new listings with a jump of 27.1 per cent, while apartment new listings rose 22.7 per cent and townhomes were up 14.1 per cent in the month.