The largest Swiss financial holding company UBS has rated 20 cities, which are considered the world financial centers, according to the indicators of the most overestimated real estate. Its analysis showed that real estate is overvalued in 16 out of 20 analyzed metropolitan cities. UBS experts noted 6 cities, in the real estate market of which may be the emergence of a bubble. The leader is Hong Kong. The following places were taken by Munich, Toronto, Vancouver, Amsterdam and London. The seventh place was taken by Stockholm, coming out this year from the risk zone in the same way as Sydney, which moved to the 11th place on the list.