Do you live in one of the most dynamic cities of 2014? Only seven of the top 20 cities were from the United States.
MSNBC Real Estate reported on a study that ranked 111 global cities looking for specific hallmarks of lively and progressive areas. Using three main categories – commercial real estate, socio-economic momentum and high-value incubators representing “the quality of a city’s infrastructure, its innovation capability and the strength of its technology sector.”
California harbored two - San Francisco and San Jose, thanks to their high tech Silicone Valley contributions. An ability to foster new and creative businesses, adapt and innovate quickly and new building construction were some of the criteria for the cities.
The top ten upwardly trending real estate cities that made the list are:
1. San Francisco - decidedly the winner for unrivaled reputation for innovation, venture capital and startups with major sectors in hi technology, tourism and finance. Population: 8.26 million
2. London - on the upswing since 2012 Olympics, huge retail market generates 40% of all money spent in the city; major sectors include finance, media, technology, tourism. Population: 8.3 million
3. Dubai – is expected to boom by the 2020 World Expo. It is a “service hub” for the Middle East, North Africa, South and Central Asia. Major sectors are tourism, real estate transportation and finance. Population: 2.2 million.
4. Shanghai – the most populated city in China made the list because of its high socio economic swing, even though lacking in real estate and other factors. Major sectors include retail and wholesale, finance, real estate, and heavy industries. Population: 14.3 million.
5. Wuhan – is increasing building momentum as the “hub of Central China” and scored strong in socio economic and commercial real estate momentum. Major sectors include automobile manufacturing, heavy industries, and technology. Population: 10 million.
6. New York
8. Hong Kong
9. San Jose