
Hong Kong’s Office Towers Have Never Been So Empty
Hong Kong’s office towers, among the most expensive commercial real estate in the world, have never been this empty.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Hong Kong’s office towers, among the most expensive commercial real estate in the world, have never been this empty.
Economists and money markets are divided over which way Australia’s central bank will move Tuesday as lingering price pressures and recovering home prices suggest a hike may be needed while weaker activity and rising unemployment argue for a pause.
Hans Peter Doskozil emerged victorious from a tumultuous leadership race within Austria’s opposition Socialist Party, pledging to shield workers from the impact of inflation in a bid to bolster support ahead of parliamentary elections due next year.
Follow us at @BloombergUK and on Facebook, and wrap up your day with The Readout newsletter.
Vietnam needs to prioritize growing the economy with inflation under control and its export-dependent businesses struggling with declining orders, Prime Minister Pham Minh Chinh said during the government’s monthly meeting on Saturday in Hanoi.
Jun 28, 2021
BNN Bloomberg
,Demand for rental properties in the Greater Toronto Area is showing signs of a slow recovery after suffering a severe blow from COVID-19, a new report showed.
The average rental rate per square foot in the GTA for all property types rose to $1,999 in May, up $22 from the previous month, according to data by Bullpen Research & Consulting and TorontoRentals.com. Rental rates in the city rose 2.2 per cent since January to $2.80, the report said.
The increase indicates rates may have hit a bottom in the first quarter of 2021 following the sharp declines seen throughout 2020 due to the pandemic. Monthly rents were still down in May by 11.4 per cent year-over-year.
The average monthly rent for condos in the GTA increased 1.7 per cent month-over-month to $2,109, according to Bullpen Research. Rental apartments remained steady, seeing only a 0.3 per cent monthly increase to $1,900 while monthly rental rates for single-family homes rose by 1.3 per cent month-over-month to $2,859.
The report said Toronto may be only two to three months away from experiencing the strong lease-up activity currently seen in other large American cities including New York, San Francisco and Chicago.
“With Toronto entering the next stage of COVID-19 reopening, tenants will be reminded of the benefits of a centrally located apartment or condominium rental, as patios fill up and boutique retail shops open,” said Ben Myers, president of Bullpen Research, in a statement.
Bullpen forecasts GTA rental rates will grow by 12 to 14 per cent next year as COVID-19 restrictions continue to be lifted.