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Blog | 31. August 2017

BERLIN AMONG THE TOP FIVE IN NEW DYNAMIC CITIES INDEX


 


 

Berlin remains on a fast track to success. The German capital’s meteoric rise means that it is now mentioned in the same breath as Europe’s world-famous metropolises: London, Paris, Cambridge, Amsterdam – Berlin. In the current “Dynamic Cities Index”, published by the real estate service provider Savills, Berlin ranks fifth, leaping above cities such as Zurich, Madrid and Stockholm. The only other German city to rank among the top ten is Munich in 6th place – out of a total of 130 cities and city regions in Europe.

But what exactly makes a city “dynamic”? The real estate experts from Savills base their assessment on a range of factors: How strong are a city’s science-based industries? How about investment in infrastructure? How positive are population growth forecasts? And well is the city doing at attracting enough skilled (young) employees for its growing economic sectors? The overall ranking is based on a combination of 60 different indicators, which Savills puts together in six distinct categories: Innovation, Inspiration, Inclusion, Interconnection, Investment and Infrastructure. Berlin scored a total of 73 points – in comparison, London topped the index with 98 points.

 

OPEN-MINDED, WELL CONNECTED AND HIGH LIVEABILITY

Berlin’s score in the Inspiration category was even better – an impressive 83 points. In their official explanation, the study’s authors said that, with four  universities, seven universities of applied science, four art colleges and 28 state-accredited private institutions of higher education universities, Berlin more than satisfies the increasingly demanding requirements of an education-based economy. They also highlighted the comparatively low cost of living in Berlin, together with the city’s creative and cooperative working environment and cultural diversity. In addition to museums and top-tier international exhibitions, the qualities that make a city particularly liveable include its cafés, restaurants and parks. Berlin has all of these in plentiful supply. And year in, year out, the City on the Spree welcomes an increasing number of visitors. The 31 million overnight stays in 2016 was a new record high for Berlin, while the millions of guests generated an income of EUR 11.6 billion for the city’s cafés, restaurants and tourism industry.

Berlin also profits from its high level of Interconnection – a crucial point in assessing the potential of any major city. The better a city’s physical, virtual, global and local connections, the greater its potentials for growth and prosperity. And Berlin is extremely well-prepared – in the study’s Interconnection category, Berlin was ranked as high as third. Only London and Paris were judged to be better connected.

 

FUTURE PROSPECTS: BRASH BERLINERS

Top-tier universities, skilled jobs and a progressive urban culture – in combination, all of these make Berlin particularly attractive. This is certainly one reason why the city, once famous for its “poor, but sexy” image, has leapt up national rankings, including the 2016 WirtschaftsWoche and ImmobilienScout24 “German Cities Index”. In terms of German cities’ capacities to face the challenges of the future, Berlin has climbed four places and now ranks 14th overall. Berlin’s rise up the rankings is largely due to the number of academics (12th place overall) and artists (1st place) who have come to Berlin to live and work.

Steady population growth is also having a positive impact on Berlin’s future prospects and the city’s urban development. Last year, the population grew by more than 60,000. Berlin is now home to 3.67 million people – and there’s no end to this growth in sight. And, of course, such positive developments are having an impact on property prices.

According to the Postbank “Residential Property Atlas 2017”, buyers are now paying an average of EUR 3.247per square meter for their new homes. This means that, in just four years (2012-2016), prices rose by 38 percent. Still, property in the German capital remains significantly more affordable than in the other cities in the elite group of European metropolises to which Berlin belongs. In Paris, buyers pay an average of EUR 8,450 per square meter (price information provided verbally by Engel & Völkers, based on a statement from the Paris Association of Notaries).

 

 

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Blog | 31. August 2017

BERLIN AMONG THE TOP FIVE IN NEW DYNAMIC CITIES INDEX


 


 

Berlin remains on a fast track to success. The German capital’s meteoric rise means that it is now mentioned in the same breath as Europe’s world-famous metropolises: London, Paris, Cambridge, Amsterdam – Berlin. In the current “Dynamic Cities Index”, published by the real estate service provider Savills, Berlin ranks fifth, leaping above cities such as Zurich, Madrid and Stockholm. The only other German city to rank among the top ten is Munich in 6th place – out of a total of 130 cities and city regions in Europe.

But what exactly makes a city “dynamic”? The real estate experts from Savills base their assessment on a range of factors: How strong are a city’s science-based industries? How about investment in infrastructure? How positive are population growth forecasts? And well is the city doing at attracting enough skilled (young) employees for its growing economic sectors? The overall ranking is based on a combination of 60 different indicators, which Savills puts together in six distinct categories: Innovation, Inspiration, Inclusion, Interconnection, Investment and Infrastructure. Berlin scored a total of 73 points – in comparison, London topped the index with 98 points.

 

OPEN-MINDED, WELL CONNECTED AND HIGH LIVEABILITY

Berlin’s score in the Inspiration category was even better – an impressive 83 points. In their official explanation, the study’s authors said that, with four  universities, seven universities of applied science, four art colleges and 28 state-accredited private institutions of higher education universities, Berlin more than satisfies the increasingly demanding requirements of an education-based economy. They also highlighted the comparatively low cost of living in Berlin, together with the city’s creative and cooperative working environment and cultural diversity. In addition to museums and top-tier international exhibitions, the qualities that make a city particularly liveable include its cafés, restaurants and parks. Berlin has all of these in plentiful supply. And year in, year out, the City on the Spree welcomes an increasing number of visitors. The 31 million overnight stays in 2016 was a new record high for Berlin, while the millions of guests generated an income of EUR 11.6 billion for the city’s cafés, restaurants and tourism industry.

Berlin also profits from its high level of Interconnection – a crucial point in assessing the potential of any major city. The better a city’s physical, virtual, global and local connections, the greater its potentials for growth and prosperity. And Berlin is extremely well-prepared – in the study’s Interconnection category, Berlin was ranked as high as third. Only London and Paris were judged to be better connected.

 

FUTURE PROSPECTS: BRASH BERLINERS

Top-tier universities, skilled jobs and a progressive urban culture – in combination, all of these make Berlin particularly attractive. This is certainly one reason why the city, once famous for its “poor, but sexy” image, has leapt up national rankings, including the 2016 WirtschaftsWoche and ImmobilienScout24 “German Cities Index”. In terms of German cities’ capacities to face the challenges of the future, Berlin has climbed four places and now ranks 14th overall. Berlin’s rise up the rankings is largely due to the number of academics (12th place overall) and artists (1st place) who have come to Berlin to live and work.

Steady population growth is also having a positive impact on Berlin’s future prospects and the city’s urban development. Last year, the population grew by more than 60,000. Berlin is now home to 3.67 million people – and there’s no end to this growth in sight. And, of course, such positive developments are having an impact on property prices.

According to the Postbank “Residential Property Atlas 2017”, buyers are now paying an average of EUR 3.247per square meter for their new homes. This means that, in just four years (2012-2016), prices rose by 38 percent. Still, property in the German capital remains significantly more affordable than in the other cities in the elite group of European metropolises to which Berlin belongs. In Paris, buyers pay an average of EUR 8,450 per square meter (price information provided verbally by Engel & Völkers, based on a statement from the Paris Association of Notaries).

 

 

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