In a specialist article you wrote that not all buildings are suitable for conversion. In which areas is there a risk of permanent vacancies?
In the last ten or twenty years, many commercial areas and back office buildings have been built, especially in the surrounding area, which are no longer needed of this size. For example around Munich: Aschheim, Unterhaching or Poing. These are areas that will be difficult to rent in the long term. And they are not or only poorly suitable for housing, among other things because there is no good connection to local public transport. “Stranded assets”, i.e. properties that are losing significant value, will increase. In some outlying areas there will be cases that can only be downcycled, i.e. converted into simple warehouses for craftsmen or industry. In extreme cases, all that remains is a large-scale demolition and the redevelopment of a district.
Also read: Buy the house now – or would you rather wait? These graphics show the dilemma
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Inactive Afores funds have low balances: SHCP
The Ministry of Finance and Public Credit (SHCP) ruled out using workers’ money for the Welfare Pension Fund.
In a conference at the 87th Banking Convention in Acapulco, the Undersecretary of the Treasury, Gabriel Yorio, explained that the main sources of financing will come mostly from budget savings.
“For the most part, they are budget savings, plus the active and inactive assets that are currently defined by law that could enter the Seed Fund. This does not in any way mean that resources will be taken from workers,” she said.
In this sense, he said that “the President has made it clear that resources will not be taken from pensions.”
Likewise, he pointed out that “currently in the Law there is an article that allows these resources to be used temporarily and if there was any type of claim or request they would be paid to the workers of those inactive accounts.”
In his participation before the bankers, the Undersecretary of the Treasury celebrated the signing of a letter of intent with the French Development Agency, to strengthen sustainable financing.
“The signing of this agreement will allow us to take another step in the implementation of Mexico’s Sustainable Financing Mobilization Strategy, designed to mobilize financial resources of up to 15 billion pesos in the coming years, with the purpose of financing the transition towards a sustainable economy,” highlighted the Secretariat.
For their part, bankers called for caution on the issue of pensions, given the changes in the system that will be debated in Congress next Monday, where they seek to take the inactive accounts of people over 70 years of age who have not claimed amounts.
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Japanese R&I maintains Mexico’s debt rating at BBB+
Mexico City. The Japanese R&I ratified the rating of Mexico’s sovereign debt at BBB+ and maintained the stable outlook, so it does not expect movements in the note in the medium term. He considered that despite the increase in the fiscal deficit expected for 2024, the fiscal program is prudent.
With this, Mexico maintains its investment grade with a stable outlook in the 8 agencies that rate its debt, the Ministry of Finance and Public Credit emphasized in a statement. At the same time, he maintained that “this ratification of the sovereign rating will allow the country to continue with favorable access to national and international markets.”
In its review, R&I mentioned that the fiscal policy implemented is prudent, focused on controlling the level of public sector debt as a percentage of gross domestic product (GDP), which is below peer economies, despite the increase in the deficit. fiscal expected in the program for 2024.
According to what was stated by the Ministry of Finance, R&I considered that the country maintains a low current account deficit with respect to GDP associated with the growth of non-oil exports and the flow of remittances. Likewise, he highlighted the adequate level of international reserves to cover short-term external debt, combined with the Flexible Credit Line with the International Monetary Fund for 35 billion dollars.
The venture firm also highlighted the country’s economic solidity derived from the strength of domestic demand and pointed out the importance of public and private investment in relation to GDP growth, as well as the greater flows of Foreign Direct Investment associated with relocation. of companies, to expand Mexico’s productive capacity, the Treasury reported.
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– 2024-04-25 07:03:54
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