Chart of the day: Most undervalued and overvalued property markets in the world
The Daily Telegraph produced this chart based on OECD data on housing markets around the world. It shows which markets are most undervalued and which are most overvalued on a price to rent and price to income ratio basis. Take a look and see how this compares to a similar analysis The Economist did.
The markets that are most overvalued are pretty similar. The British lament that the UK is in 8th place at 31% overvaluation. But there are other markets that are much worse, none of which has yet had a housing bust.
Source: The Telegraph
Also see: Problems in global housing markets (link for subscribers only)