Tel Aviv Included on Investment Bank’s List of Real Estate Bubbles
JNS.org -The real estate market in Tel Aviv is expected to cool off, but home prices are still high, according to a report by UBS Global Wealth Management published before Rosh Hashanah, which for the first time included the first Hebrew city on its list of global real estate bubbles.
The Swiss bank’s “Global Real Estate Bubble Index 2019” measures housing prices in 24 large cities worldwide. This year’s index included, for the first time, Madrid, Moscow and Tel Aviv, listed as cities with high housing prices, as well as Dubai, where prices are listed as “balanced.”
According to UBS, among the cities covered by the index, Tel Aviv has seen the largest housing price increases in the past 30 years.