The UK is host to five of the top 20 European cities, the highest number of any country, with London and Cambridge occupying the top two spots respectively, according to the Savills Investment Management’s (Savills IM) 2018 dynamic cities ranking.
The other three UK cities in the top 20 are Oxford (8th), Edinburgh (12th) and Bristol (16th). Another six British cities were ranked in the top 40, these are: Manchester (29th), Newcastle upon Tyne (31st), Belfast (33rd), Cardiff (34th) and Birmingham (39th).
Germany and Switzerland were the next highest ranked countries, with three cities apiece in the top 20.
The UK also fared well in the inclusion category, which measures the cities’ diversity in regards to culture, ethnicity, religion, age and gender. These factors can benefit economic growth by attracting a diverse and broadly skilled population, which can have a positive effect on the surrounding region’s income and property values.
Savills IM’s head of research, Europe, Irfan Yonus, said: “While the continued dominance of London as Europe’s leading ‘supercity’ will reassure those investors concerned by the threat of brexit, what is particularly encouraging for the UK is that its cites have performed more strongly than any other country in responding to the threats and opportunities caused by urbanisation.
“Cities such as Cambridge, Oxford and Edinburgh are punching above their weight compared to European counterparts and have what it takes to attract investors – namely, infrastructure investment projects, fast-growing knowledge networks, high quality universities, innovative businesses drawing from a global talent pool and strong cultural amenities to help retain that talent.”
Savills IM’s dynamic cities analyses and ranks 130 European cities across 6 categories, which are: innovation, inspiration, inclusion, interconnection, investment and infrastructure.
Savills IM transacted EUR 5.5 billion in 2017, including EUR 2.95 billion of disposals and EUR 2.55 billion of acquisitions. The firm saw total activity of EUR 4.5 billion in Europe and EUR 1 billion in Asia. The company currently has over 300 employees in 18 offices.
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