The City Momentum Index is put together by international real estate and investment company Jones Lang Lasalle. They used a weighted index to look at socio-economic factors like GDP and population, commercial real estate factors such as price, construction and investment, and what they call high value incubator factors like education, technology and the environment.
JLL examined 120 cities across the world. Their top 20 includes 7 cities in China and 4 in the US, including London’s great global city rival, New York at 18th. Dublin was the only other European city to make the top 20.
The top 5 are:
- London, UK
- San Jose, USA
- Beijing, China,
- Shenzhen, China
- Shanghai, China
JLL said that London achieved the top spot due to strong economic fundamentals and a high volume of commercial property investment from overseas. Although not in the top 20, European cities including Paris, Berlin, Copenhagen and Stockholm perfomed well in education, innovation and technology.
JLL points out that the list does not indicate that the top 5 offer the best commercial property investment but shows a rapid rate of economic change and momentum in the city’s real estate market.