From Lisa Strope
New England Research Manager
Boston is on a roll. After recently been named 2nd in the US and 5th in the world in JLL’s latest City Momentum Index, the region has once again received high marks on a global scale. According to JLL’s just released Investment Intensity Index, Boston is ranked 4th in the US and 14th in the world based on the volume of direct real estate investment relative to the city’s current economic size. London received the top spot on the list.
Covering over 300 cities around the world, the Index reveals the increasing attractiveness of “New World Cities,” which include Boston and other transparent, innovation-oriented cities which are accounting for a growing share of global commercial real estate investment.
As evidenced by the report, the world’s most globalized metropolitan economies continue to account for a significant portion of global transactions, with the top 10 cities for transaction volumes accounting for nearly 30 percent of global investment over the last three years. However, over the past 10 years a core set of 32 New World Cities has steadily increased its share of global real estate investment volumes, rising from 10 percent in 2006 to account for over 20 percent in 2015.
This serves as further recognition that Boston has become one of the most important “Innovation Hubs” in the world and a strategic location for many global brands to plant their flags. Building on our highly educated workforce, our ecosystem of innovation, and an unemployment rate below the national average, Boston’s economy is poised to extend its strong run of growth.