Toronto at the risk of Housing Market collapse?
In recent survey conducted by Swiss Bank UBS ranked Toronto on Top among 25 Cities around the world on the risk of housing market collapse. When there is not enough housing supply to its growing population and supply can not expanded in short period of time and thus problem arises of Property prices going high.
Prior to 2019 major Canadian banks were offering low interest rates and that lead to spike in demand for new houses with less supply. According to UBS report Toronto has highest UBS index score of 2.24 followed by Frankfurt 2.21, Score above 1.5 is considered as Bubble risk.
Image Source : https://www.ubs.com
UBS report stated that housing prices and Vancouver and Toronto tripped in last 25 years making them highest at bubble risk in north America.
Find out Top 25 Cities in the world here on UBS index
5. Hong Kong
8. Tel Aviv
11. Los Angeles
17. San Francisco
20. New York
23. Sao Paulo
Read out the full report here: