Toronto went from the strongest real estate market in the world to one of the weakest in a span of four years, with a new report finding housing prices in the city have fallen by around 30 per cent since peaking in 2022.
UBS, a global wealth management firm, published its annual Global Real Estate Bubble Index on Monday, tracking residential prices across 23 cities worldwide, like Amsterdam, Dubai, New York City, and Tokyo.
The report delved into housing price trends, what kind of housing bubble risk these cities are facing, how long it takes to buy a 650-square-foot apartment on an average income, and how the cost of homeownership compares to rent for comparable homes.
