Savills’ latest Investment Management’s Dynamic Cities Index shows that London is Europe’s most “future-proof” city for investment despite uncertainty over Brexit.
Using 60 indicators across 6 categories including innovation, inspiration, inclusion, interconnection, investment and infrastructure, the Dynamic Cities Index analyses 130 European cities to determine which would rank as the top dynamic cities on aspects including economic growth, technology, population and wealth.
London topped the table thanks to its “range of knowledge-based industries, infrastructure investment, population growth forecasts and diversified workforce,” with the report predicting that London will remain the “pre-eminent European city despite short-term turbulence owing to Brexit and recent political developments”. Paris, Cambridge, Amsterdam and Berlin also made it into the top five.
Kiran Patel, Chief Investment Officer at Savills IM, comments: “Europe’s most dynamic cities are future-proofing themselves by creating environments that encourage the growth of a ‘knowledge economy,’ which will increasingly drive wealth creation. The report shows that size isn’t everything: while some ‘supercities’ such as London and Paris are consolidating their already dominant positions, smaller cities such as Cambridge, Edinburgh, Dublin and Stockholm are well positioned to grow in influence over the coming years and are likely to become increasingly attractive locations for property investment.”
London not only holds the top spot in the overall rankings, it is also the leading city when it comes to innovation, interconnection, infrastructure and investment.
The report explains: “London’s strong human capital is forecast to continue to expand, supported by initiatives such as the ambitious London Infrastructure Plan 2050, which involves more than £1 trillion of investment covering housing, transport, digital infrastructure and basic services.
“Although London office supply is increasing and the Square Mile is at some short-term risk due to Brexit-related financial services job relocation, strong wealth indicators and healthy population growth forecasts provide it with a strong long-term investment foundation. London also has a well-diversified workforce, so the overall impact on employment is expected to be small.”
With the UK continuing to be a destination of choice for investment, our London-based experts at Beavis Morgan are available to offer specialist services to identify business opportunities for overseas investors looking to enter the UK property and business markets. We also provide a comprehensive range of professional services to help you make the most of your investment in the UK.