Most cities in UBS Group's Global Real Estate Bubble Index are overvalued or at risk of a bubble, according to the Swiss bank's 2018 report on housing prices.
Chicago is the only undervalued housing market in the 20-city index, while Milan, Singapore and Boston are deemed fairly valued, the report released on Thursday shows. Ten cities, from New York to Sydney to Stockholm, are overvalued, while six are in bubble-risk territory, with Hong Kong's market the most inflated. A year ago, New York had been scored as fairly valued.