EUROPE - Jones Lang Lasalle, the property specialist, believes that investors are missing out on potentially lucrative returns from key urban markets worldwide, among which are several European cities.
JLL has identified 24 “rising urban star” cities across the world which it believes will attract investor interest in the near future.
Some of the cities are growing rapidly and already boast active real estate markets. Others are not so well known.
Jeremy Kelly, JLL’s associate director of European research and co-author of the study, said: “As the world urbanises at a pace unequalled in recent history, evidence is already emerging of growing interest in cities that would have been ‘unconventional’ only five years ago.
“As yet only a handful of investors, developers and occupiers have tuned unto the new dynamics of these emerging winners, but others will need to widen their radar... .”
Among those listed in Europe are Helsinki, which is set to benefit from sophisticated technology demand. Nordic cities, such as Copenhagen, are expected to combine economic growth and a high quality of life - issues that will increasingly influence corporate location decisions.
Political and economic integration, as well as geographically expanding trading blocs, are also expected to boost prospects for cities in Central Europe. JLL reckons that Tallinn and Budapest are best placed to benefit from EU accession.
And on the leisure and cultural front, Barcelona is positively weighted with both strong governance and branding as its key assets.
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