A note from UBS landed in the usual place on Tuesday which we couldn’t resist having a read of.The report is the latest in the Swiss bank’s “Real Estate Bubble Index” which takes a look at the relative valuations of metropolitan housing markets across the globe. New to the party this year are Madrid (overvalued), Moscow (overvalued), Dubai (fair valued) and Tel Aviv (overvalued).You may sense a theme developing here already.Being residents of a certain city in the south of England, our eyes immediately turned to the section on London, to see if our extreme levels of anecdata about the city’s overvalued housing stock translate into fact. Shock horror: they do.Here’s a chart of the number of years a skilled worker needs to work to purchase a 60m2 (650 sq ft) flat in various global cities.
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A note from UBS landed in the...