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March 23, 2016

Twelve of Europe’s most dynamic cities have been identified in a new ranking, with new entries marking a changing the investment opportunity landscape across the continent.

As investors increasingly look at long term trends in their search for sustainable income, new markets are emerging as real estate investment hotspots. This year’s City Momentum index from JLL sees Istanbul enter the ranking for the first time.

London tops the list, followed by Dublin and Paris. The top cities boast long held strengths in technology, deep talent pools and ambitious urban development plans, according to the research.

“The European Top12 identifies those cities where change is occurring most rapidly,” says Jeremy Kelly, director of global research, JLL.

“Istanbul joins this group for the first time, where, despite geopolitical headwinds, it displays remarkable dynamism. The ranking combines real estate dynamics such as investment, property prices and construction with socio-economic factors.

Kelly adds: “Istanbul is a city which is taking bold steps to improve its infrastructure and is building a modern real estate portfolio as it grows into its new skin as a global business centre.”

Elsewhere, the ranking is dominated by Europe’s ‘New World Cities’ – Dublin (2nd), the Randstad (4th), Munich (5th), Stockholm (6th), Copenhagen (7th), Berlin (11th) and Barcelona (12th). These smaller, innovation-oriented cities combine strong infrastructure platforms with a high quality of life and resilience against changing economic conditions.

“Investors are increasingly looking towards long term trends such as demography and technology when making asset allocation decisions, driven by their search for sustainable income,” adds Kelly. “Cities such as Dublin, Stockholm, Berlin and Copenhagen have among Europe’s highest concentrations of high-tech start-ups, strong research systems and are home to many millennials, a testament to the dynamism and long-term potential of the continent’s New World Cities.”

UK cities have maintained their strong position in the list, with Manchester (9th) and Edinburgh (10th) joining London in the European Top 12.  Sound economic fundamentals are credited with their success and devolution measures are set to boost further the competitiveness of these two cities, according to JLL research.

View the full City Momentum Index European Top12 by JLL.

Jeremey Kelly
Global research director

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