Covid-19 related stimulus, ultralow rates and changes in buyer behavior are turbocharging housing markets from Europe to Asia, raising fears of possible bubbles and prompting some governments to intervene to prevent their markets from overheating. However, a replay of the global housing crash like in 2008 is forecasted not to happen, because hot markets could cool naturally without wider damage as interest rates rise and real demand is met. In this context, total real estate investment volumes (excluding development sites) in Asia Pacific are expected to bounce back in 2021 to approximately US $165 billion, driven by greater investor confidence in this region’s economic recovery.