Swiss bank UBS releases their annual Global Real Estate Bubble Index.
UBS analyzed residential property prices in 25 major cities around the world. According to the study, five European cities as well as Toronto and Hong Kong are in bubble risk territory. Despite the current global recession, on average, inflation-adjusted house price growth in these 25 cities accelerated in the last four quarters, which we consider unsustainable. In addition, the pandemic amplifies some long-term uncertainties surrounding urban housing.
