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In its online magazine on mortgages, UBS recently documented in detail the advantages and disadvantages of a Saron or fixed-rate mortgage in the current interest rate environment. Based on the current monetary policy of the central banks, the Saron mortgage is likely to become more expensive in the coming months.

In its interest rate forecast, UBS expects the Swiss National Bank to raise the key interest rate again by 0.25 percent in view of the fact that inflation remains above 2 per cent. However, the bank predicts that these interest rate increases would already be expected by the markets and therefore the yields of government bonds and mortgage interest rates should be little affected.

In the global marketplace for luxury real estate, just what does US$10 million buy? That is the question in this Luxury Defined edition. Does the big city call? Does the dream call for an island escape? Or perhaps paradise whispers?