It may not be a shock to many, but it’s confirmed: Toronto’s housingmarket officially has a higher bubble risk than anywhere else in the world. UBS | realestate realestatenews housingbubble ONpoli TOpoli
In previous years, Frankfurt and Munich have snagged that top spot, but as housing prices in Toronto have more than tripled in the last 25 years — amid chronic inventory shortfalls and a growing population — the 6ix has unsurprisingly inched to the not-so-coveted number one spot.
“Up-sizing during the pandemic on the back of strong income growth has done its part in pushing up demand. Households have also been leveraging up at the fastest pace since before the financial crisis. And although the rental market is running hot with rents climbing by more than double their five-year average rates, they could not keep up with the pace in the owner-occupied market.”
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