Miami Tops Real Estate Bubble Risk in 2024 🏠

What We’re Showing

This graphic shows the cities with the highest real estate bubble risk, based on the UBS Global Real Estate Bubble Index 2024.

Methodology

For the analysis, UBS looked at the following factors:

• Price-to-income ratio
• Price-to-rent ratio
• Change in mortgage-to-GDP ratio
• Change in construction-to-GDP ratio
• City-to-country price ratio

Key Takeaways

• Since the end of 2019, house prices in Miami have soared almost 50%, driven by an influx of demand in the high-end property market.
• Home prices in Dubai surged 17% between Q2 2023 and Q2 2024, the fastest rate across cities analyzed amid record transaction volumes and strong population growth.
• Ultra-loose monetary policy has contributed to high property valuations in Tokyo, which has among the highest price-to-income ratios in the dataset.