San Francisco wins big again. This time the city by the bay was crowned “most dynamic city” in the world.
Even cities have beauty contests. In one such recent judging, San Francisco led the globe as the “most dynamic city,” according to the City Momentum Index from commercial real estate services firm Jones Lang LaSalle.
The company just debuted the index, which looks at “strong short term socio-economic and commercial real estate momentum and longer term foundations for success.”
“The true foundation of highly dynamic cities emerges from such factors as speed of innovation and creation of cutting-edge businesses along with new building construction, property price movement and investment in real estate from cross-border investors and corporations,” said Jeremy Kelly, JLL’s director of global research.
The index aims to measure factors such as infrastructure, connectivity and innovation. Six of the top 20 cities worldwide are in the United States including New York, Austin, San Jose, Los Angeles, Boston and Seattle. Foreign cities to top the list include London, Dubai, Shanghai and Wuhan.
Cities scored points for its sales of commercial properties, technology, innovation, rapid urbanization, growing consumer base, and upcoming global events like a future Olympics.
The index looked at short-term factors such as changes in GDP and population, air passenger traffic, corporate headquarters presence, levels of foreign direct investment, office leasing, office construction, office rents, shopping mall construction and retail rents, direct commercial real estate investment volumes and real estate transparency.
Long-term factors include university presence and educational infrastructure and presence of technology and venture capital firms.
“By taking a unique look at the combination of short-term variables and sustainable long-term characteristics,” Kelly said, “the City Momentum Index provides a look into underlying city dynamics, adaptability and real estate market characteristics.”
Here are the top 20:
Article from San Francisco Business Times