September2023ChiefInvestmentOfficeGWMInvestmentResearchUBSGlobalRealEstateBubbleIndex2UBSGlobalRealEstateBubbleIndex2023Learnmoreat:www.ubs.com/global-real-estate-bubble-index3Editorial4Keyresults5Deflatingbubbles7Regionalfocus13Citybenchmarks15Cityspotlights22Cityoverview23Methodology&DataUBSGlobalRealEstateBubbleIndexThisreporthasbeenpreparedbyUBSSwitzerlandAG,UBSAGSingaporeBranch,UBSAGHongKongBranch,UBSAGLondonBranchandUBSFinancialServicesInc.(UBSFS).Pleaseseetheimportantdisclaimerattheendofthedocument.Pastperformanceisnotanindicationoffuturereturns.EditorinChiefMatthiasHolzheyAuthorsMatthiasHolzheyMaciejSkoczekClaudioSaputelliKatharinaHoferRegionalcon...
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