Swiss bank UBS places Canadian megapolis Toronto as number one, and the Swedish capital city Stockholm as number two in an analysis of which cities show most signs of possible housing bubbles in the future, according to Danish business media Finans.
Copenhagen was not included in the analysis, in which UBS has given a number of large cities a score based on parameters that have recurred when housing bubbles have formed. This is, for example, a disconnect between housing prices and local population’s income.
According to Finans, housing prices in Toronto have increased by 50 percent in five years, while a residence in Stockholm has increased by 60 percent more than wages and salaries in the last 10 years.
Number three on the list is Munich, where housing prices have increased by 85 percent in 10 years.
English Edit: Marie Honoré
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Grant-making association Realdania has its roots in the history of Danish housing needs -- all the way back to the devastating Copenhagen Fire of 1795. But with his eye firmly fixed on today's financial market challenges, CIO Peter Johansen tells AMWatch the private philanthropic organization is now set for a big boost in its alternative assets.
Both Alecta and AMF are busy shifting assets into new investment types: Alecta has more than doubled its green bonds investments in 2017, while AMF’s CIO says her fund has been working to manage assets outside the traditional asset classes.
Over the years, Pensiondanmark has built up a large portfolio of alternatives, which in 2017 yielded a return that compares with equities. Investments in infrastructure, property and non-listed assets will help protect the savings of more than 700,000 members against future equity unrest and interest rate hikes.
Spiralling costs for government pensions, a large sector of the population with scant pension savings, particularly poor pensions among women -- and a group with no pension coverage at all. The latest OECD pension report lays bare the fact that Germany has a steep hill to climb, with pensions in need of far-reaching reforms.