Dublin rises to sixth place for commercial real estate investment
Dublin has been ranked as sixth out of 130 European cities for commercial real estate investment, according to a report from Savills Investment Management.
The city's ranking - which was up one place from last year - is based on its continuing emergence as a financial hub, the 'Dynamic Cities Index' found. The index analyses and ranks 130 cities across the categories of infrastructure, inspiration, inclusion, interconnection, investment, and innovation.
It highlights cities that are able to attract and retain talent, as well as spur innovation and increase productivity. This, in turn, encourages wealth and population growth that, according to Savills, drives successful commercial real estate markets.
In the case of Dublin, the index found that one of the largest drivers behind its transformation into a financial hub was the continued development of the city's Docklands area. Meanwhile, the city performed best in the area of inclusion, which measures a city's diversity in terms of its culture, ethnicity, religion, age and gender.
Dublin, which is home to nine of the top 10 global technology companies, ranked higher than a number of other financial powerhouses - including Zurich, Frankfurt, and Luxembourg.
"Companies are continuing to vote for Dublin, and we have seen the levels of investor confidence here surge in recent years. I think it bodes well for the city," Mary Buckley, director of IDA Ireland, said.
"Our clients are focused on winning and retaining talent - and Dublin provides the quality of life that is facilitating both domestic and foreign talent to thrive here."
Despite concerns around Brexit, London topped the list, followed by Cambridge and Paris, with Amsterdam and Berlin completing the top five dynamic cities.
London was ranked first across five of the six measurement categories.
"Our index identifies cities with sound fundamentals which are best placed to take advantage of developments such as urbanisation, the knowledge economy and technological change," Irfan Younus, head of research, at Savills Europe, said.