Vancouver, London & Stockholm at Risk of a Housing Bubble
According to a UBS Group analysis of 18 financial centres, Vancouver, London & Stockholm were ranked as cities at the most risk of a housing bubble. Housing prices in these cities have increased on average by almost 50% since 2011 as compared to the other financial centres which have increased less than 15%.
“Housing prices in these cities have increased on average by almost 50% since 2011 as compared to the other financial centres which have increased less than 15%.”
Vancouver ranking climbed from fourth to first place in 2015 after their housing prices doubled in the past decade. Due to this, the government recently imposed a 15% tax on foreign buyers in an attempt to bring down the prices.
About UBS Global Real Estate Bubble Index
The UBS Global Real Estate Bubble Index is designed to track the risk of housing bubbles in global financial centers.
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