All articles tagged with #european real estate
The article discusses the potential decline of transparency in the US housing market due to conflicts among major brokerages over 'hidden listings,' drawing parallels with Europe's less transparent real estate systems, and warns that this could fragment the market and complicate house hunting for buyers.
Signa, the European co-owner of the Chrysler Building, has filed for bankruptcy after failing to secure fresh funding, becoming the largest casualty of Europe's property crash. The property and retail giant, controlled by Austrian magnate Rene Benko, has debts of around €5 billion ($5.5 billion) and is expected to send ripples through the continent's struggling property sector. Signa's insolvency could trigger a wider drop in commercial property prices if it starts offloading properties. The company's collapse has impacted 42 employees and 273 creditors.