The South Korean government introduced stricter mortgage restrictions for first-time home buyers in Seoul and surrounding areas following a recent rise in apartment prices. The borrowing limit has been reduced from 70% to 40% of the property's value, with a maximum cap of 600 million won (around USD 420,639). The measure, the third under President Lee Jae Myung's administration, aims to address affordability issues as Seoul's price-to-income ratio remains among the highest globally.Read more

Chinese property developer Country Garden announced that its controlling shareholder agreed to convert loans worth USD 1.14 billion into equity as part of its ongoing offshore debt restructuring process. The move follows an agreement reached earlier with key bank creditors on a USD 14.1 billion restructuring plan. The conversion will see new shares issued at HKD 0.60 each, slightly above the market price. Creditor meetings have been scheduled for early November to vote on the proposal, marking another step in the developer's efforts to stabilise its finances amid China's property sector crisis.Read more

The International Monetary Fund (IMF) has reiterated that China must redirect its economic growth model towards strengthening domestic demand, which has remained subdued due to the ongoing property sector downturn. The renewed emphasis came in the IMF's latest World Economic Outlook, following pressure from the United States Treasury for a more critical stance on China's economic approach. The IMF warned of rising financial stability risks, weak credit demand, and a potential debt-deflation trap weighing on the Chinese economy.Read more

U.S. office loan delinquencies rose sharply in September, primarily due to a USD 180 million loan default for 261 Fifth Avenue in Manhattan. Office CMBS made up over USD 1 billion of the USD 2.05 billion in newly delinquent CRE loans. Starbucks announced closure of its outlet at the Manhattan building as part of a larger national store closure plan. Another major default involved a USD 79 million loan for CityPlace I in Hartford. Overall CMBS delinquencies also rose, reflecting ongoing stress and shifting demand in the U.S. office real estate market.Read more

A prolonged shutdown of the US government has raised serious concerns for the housing sector, with thousands of home closings reportedly at risk each day. Data from HomeAbroad revealed that the suspension of the National Flood Insurance Program has disrupted insurance coverage for properties in high-risk areas. The halt, already lasting several weeks, threatens billions in housing transactions nationwide and could have severe financial repercussions for flood-prone states such as Maryland, Virginia, North Carolina, and Florida.Read more

EDP is set to accelerate its solar and battery storage projects in Australia after securing government-backed revenue schemes through the Capacity Investment Scheme. Its two projects, Punchs Creek in Queensland and Merino in New South Wales, will add more than 1.7 GW of solar and battery capacity. Punchs Creek will include 480 MWp of solar and a 400 MW battery system, while Merino will feature 530 MWp of solar and a 450 MW battery system. The CIS ensures long-term revenue support, reducing investment risks and promoting large-scale clean energy deployment across Australia.Read more

Aritzia's fiscal second-quarter results showed strong performance, with revenue rising 31.9% year-on-year and adjusted EPS beating estimates. U.S. operations drove growth, supported by retail expansion and eCommerce, along with robust demand for the Fall collection and effective inventory management. Gross profit margin improved due to better initial markup and operational leverage. The company projects third-quarter revenue of USD 875-900 million and full-year revenue of USD 3.30-3.35 billion, supported by USD 200 million in capital expenditure for boutiques and distribution. Analysts continue to rate the stock positively.Read more

Swedish green steel company Stegra plans to raise about 975 million euros (USD 1.1 billion) to support its Boden plant and strengthen its finances. The firm had previously secured 6.5 billion euros to build the plant, which will use hydrogen from renewable electricity to produce steel. The new funds are meant to cover rising project costs, compensate for missed state grants, and scale up production. Stegra is also exploring outsourcing opportunities, while Sweden's green transition faces financial challenges in industries like steelmaking and long-distance transport.Read more

Brazil's Gol Linhas Aereas has unveiled a restructuring plan that will convert it into a private entity by merging its units and delisting from the B3 exchange. A public tender offer for existing shares is part of the plan, though it may be withdrawn if the offer's value reaches or exceeds INR 47.25 million. Having emerged from U.S. Chapter 11 earlier this year, the airline's free float was diluted to below 1 % a circumstance that softens the impact of its stock exit. The move aims to simplify operations, cut costs, and unify its corporate structure.Read more

Amancio Ortega's investment company, Pontegadea Inversiones, has purchased a large warehouse in Knowsley, near Liverpool, for around GBP 81 million (USD 107.5 million). The property, spanning 850,000 square feet, has been leased by Amazon since 2022. The deal, which marks another addition to Pontegadea's growing logistics portfolio, is estimated to yield about 5 percent in net initial return. It follows Ortega's 2023 acquisition of an Amazon logistics centre in Dublin for USD 245 million and a 49 percent stake in Brookfield's UK ports business earlier this year.Read more