Real estate prices in many global cities have doubled since 1998 in real terms, with the most overvalued housing markets situated in London and Hong Kong, UBS Chief Investment Office Wealth Management\'s (CIO WM) Global Real Estate Bubble index has found.
Deviations from the long-term average indicate major housing bubbles in Sydney, Vancouver, San Francisco and Amsterdam. Valuations are also being pushed in Geneva, Zurich, Paris, Frankfurt and, further behind, Tokyo and Singapore. The US cities of New York and Boston are fair-valued relative to their own history, while Chicago is undervalued.
