UBS Global Real Estate bubble 2025: Which cities face the greatest housing bubble risk

According to this year’s variation of the UBS Global Real Estate Bubble Index, Miami shows the highest bubble hazard among the cities studied, followed by Tokyo and Zurich. Over the past 4 quarters, planetary lodging prices person remained astir unchanged successful inflation-adjusted terms, arsenic reduced affordability continues to curb demand. For the study, UBS analyzed lodging prices successful 21 large cities worldwide.

More specifically, Miami exhibits the highest bubble hazard among the surveyed cities. A precocious bubble hazard is besides observed successful Tokyo and Zurich.

UBS Global Real Estate Bubble 2025: Which Cities Face the Greatest Housing Bubble Risk

Elevated hazard is evident successful Los Angeles, Geneva, Amsterdam, arsenic good arsenic Dubai, which, on with Madrid, recorded the sharpest summation successful hazard compared to the erstwhile variation of the study.

Bubble hazard is mean successful Sydney, Vancouver, and Toronto. Madrid, Frankfurt, and Munich besides autumn into the moderate-risk group.

According to the index, London, Paris, and Milan look a debased bubble risk. Outside of Europe, Hong Kong, San Francisco, New York, and São Paulo are successful the aforesaid category, with São Paulo showing the lowest hazard of each cities analyzed.