07:45 AM EDT, 09/22/2026 (MT Newswires) -- Zurich faces the highest housing bubble risk globally amid rising affordability pressures, UBS Group (UBSG.SW) said in its 2026 Global Real Estate Bubble Index published Tuesday. The Swiss bank's analysis, which looked at residential property prices in 23 major cities worldwide, showed that house prices, rents and incomes were "broadly flat" in real terms over the past year. Among the major cities included in the sample, Zurich also saw the strongest increase in housing prices. Geneva and Lisbon were among those in the elevated risk category, alongside Dubai in the United Arab Emirates. Meanwhile, moderate housing bubble risks were observed in Amsterdam, Madrid and Milan, as well as the cities of Frankfurt and Munich in Germany. The housing markets of Paris and London were among those with a low bubble risk, according to the study.

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