Europe is full of cities on the move, be it improving infrastructure, to heightening inspiration. Savills Investment Management's measure of the most dynamic cities in Europe highlights the cities with the best prospects for commercial investment, though it is a good indicator of a city's development for anyone hoping to move there. London topped nearly all five of the metrics used by Savills to take the overall top spot, and the UK as a whole features strongly across the different categories.
The main rankings
Taking the top spot overall, and in four of the six metrics, is London. The UK had the most cities featured, with Cambridge in third, Edinburgh in ninth, Oxford in 14th, Bristol in 25th, Manchester in 27th, Birmingham in 30th, Belfast in 31st, Reading in 35th and Newcastle in 40th.
Outside of the UK, Paris took second place and Amsterdam came in fourth. Germany also fared well with Berlin coming in fifth and Munich sixth. Dublin was seventh, Stockholm came in eighth and Zurich, tenth.
Infrastructure
London is recognised as having the best infrastructure and there are more plans in the works. With the tube moving to a twenty four hour service (on Fridays and Saturdays) and planned high speed lines to make commuting from outside of London even easier, it is easy to see why it takes the cake. Paris takes second thanks to its high urban population combined with good digital connectivity. Stockholm in third has good existing infrastructure (with expected growth in human capital) and Cambridge has significant infrastructure plans underway. Brescia makes it into the top five due to its improvement in transport links, such as a new connection to Milan.
Interconnection
It is easy to see the link between overall interconnection and transport infrastructure, so London again comes out on top here. It also fared well when looking at technological interconnection. Similarly, Paris is noted for its extensive existing transport infrastructure, making it quite easy to get around. Berlin in third has not only the physical infrastructure, but a number of cafés that act as a measure of different types of human interaction. Taking fifth place, Madrid was the highest scorer in terms of number of railway stations, though there aren't as many plans in the works for future development, as is the case for the other cities.
Inclusion
Cambridge came in at first place, with students from around the world making the city more diverse and increasing its population of international residents. London isn't far behind in second, with its transportation system coming into play yet again, making the city all the more accessible and inclusive. However, it is noted that its lower purchasing power brings it down, with everything from real estate to everyday items costing more in London than other parts of the UK. Dublin in third and Edinburgh in fourth are both featured thanks to the strong sense of community created in both cities. With highest number of foreign-born residents, Lausanne is in fifth place. It also boasts a large number of international students.
Inspiration
It turns out the university city of Cambridge is where you will feel most inspired, with a significant amount of cultural and artistic activities (particularly in comparison to the city's modest population). London is again in second, thanks to its status as one of the world's leading capital cities. It is home to globally renowned museums and a thriving culture scene, including world-class plays and musicals in the West End. It is also noted for the role technology plays in the City, where London appears as a contender in the international startup scene. In third place, Prague has a rich culture and history, and a lot to encourage creative endeavours. Like Cambridge, Oxford benefits from being a university city, which undoubtedly helps promote creativity. In fifth place, Edinburgh is known as a creative capital, acting as the host city for the annual Fringe Festival which showcases a wide range of artistic talent.
Innovation
As previously mentioned, London is popular with startups and is also the location of some of the worlds leading universities, driving research and innovation. Cambridge also benefits from the presence of an internationally prominent university and ranked at number one for startup intensity, as well as transfer of ideas. Another destination with top-notch tertiary education is Paris, which is recognised for its high level of patent generation. Amsterdam, on the other hand, takes fourth place due the density of startups and the amount of enterprising activity taking place. The top patent-producer is Munich, with the most overall patents being produced there.
Investment
With real estate being much sought after and developments ongoing throughout the city, London again tops the rankings for investment in commercial real estate (however, it is certainly becoming less popular with individual home buyers as the prices are driven skyward). Paris is close behind for similar reasons (high level of real-estate activity and environmentally conscious developments). Malmö in third and Zurich in fifth are both expecting population growth to continue to drive their real estate market, making them an attractive choice for real estate investors. Fourth place Munich has an active existing commercial real estate market that is attractive for investors.
