Vancouver Ranked #4 City In The World Most At Risk For Real Estate Bubble
Sigh, tell us something we don't know.
As we all already know, Vancouver's housing market is a bit of a gong show and this ranking probably shouldn't come as much of a surprise to us. But rather, simply confirming that our city continues to be a risky investment.
UBS is a Swiss global financial institution that publishes a Global Real Estate Bubble Index annually. According to a recent report on this index from Visual Capitalist, it states that Vancouver sits at fourth place for being at most risk of a real estate bubble, when compared to other cities around the world.
While Toronto is ranked #1 most at risk across the globe, with real estate prices having doubled over the last 13 years and scoring 2.12 on bubble risk index, Vancouver does not fall shortly behind. With a score of 1.80, it sits just right below Toronto, Stockholm (2.01) and Munich (1.92).
The report shows that Vancouver's housing prices have steadily risen between 6-7% annually over the past five years, and as you probably already know, has been deemed "risky territory".
Last year, there were three key real estate markets that showed no rising in prices, which were Milan, London and Singapore.
But perhaps this isn't all bad news. If the bubble bursts, maybe not all hope is lost in finally being able to afford a place in this city.