Vancouver, London & Stockholm at Risk of a Housing Bubble

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%.”

~UBS

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.

Related Reports: Bloomberg, ABC 

 

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.

Visit: UBS Global Real Estate Bubble Index


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Super Prime Property at a Stand Off

Super Prime Property at a Stand Off

There has been a 29% increase in super prime letting deals in 2015/2016, compared to 33% drop in sales for £10m plus homes in 2015. After several years of property developers focusing on the world’s wealthiest individuals in major cities such as London and New York, developers are now facing a super-prime slowdown, as their remaining clientele looks to rent rather than buy.

“There has been a 29% increase in super prime letting deals in 2015/2016, compared to 33% drop in sales for £10m plus homes in 2015.”

~ Wealth X

The movement to renting is a combination of several factors in major cities like London: higher taxes and stamp duties on super-prime properties (especially for second homes), low commodity prices directly impacting the wealth of buyers and calls for greater transparency on asset ownership, are putting the wealthiest off buying super-prime properties.

Related Reports: Wealth X, Knight Frank

 

What is Super Prime Property

There is no hard and fast definition to the prime London property market, although £1m has generally been accepted as the entry point. Similarly the super-prime market lacks a formal definition.
Our view is that £10m is the appropriate starting point, which effectively means this segment encompasses the top 1% of the whole of the central London marketplace.

Visit: Knight Frank


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

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