Overview

• Frankfurt and Munich now sit in the middle of UBS’s 21-city rankings at positions 11 and 13.
• Miami, Tokyo and Zurich are identified as carrying the highest current bubble risk.
• UBS sees a potential mid-term recovery in prices and further rent increases if interest rates fall and supply remains constrained.
• Frankfurt’s expanding finance sector is expected to keep rental demand strong, while Munich looks stable with limited near-term price upside.
• The index benchmarks prices and rents against incomes and economic output and factors in household indebtedness and construction activity.