Swiss housing bubble risk is at its highest since 1991: UBS

Zurich

THE Swiss property market, moving ahead while the economy shrinks, is in more danger of developing a bubble than at any time since 1991, UBS said in a quarterly study on Tuesday.

Negative interest rates have created excess demand for property as an investment, the Zurich-based bank said, which brings the housing market back into focus for the Swiss National Bank (SNB).