The global property boom is over as slowing growth, high prices and rising risks point to the end of the long recovery from the financial crisis, investment bank UBS has warned.
Rock-bottom interest rates have kept prices rising but the result is that buyers are stretched and are facing record low returns on investment in prime property.
Prices have run out of room to grow in many parts of the world in commercial and residential property, and the market cycle is thought to have peaked around nine months ago, the bank warned.
