July 11, 2017
Los Angeles topped the list of the world’s best cities for real estate investment on Schroders Global Cities 30 Index. The London-based investment bank’s third annual ranking cited L.A.’s scale and economic depth as key factors towards cultivating long term value for fixed asset investments.
The diversification away from a single economic engine (entertainment) has created a compelling environment where people want to work and live. A big driver is the technology sector, which has grown substantially over the past few years. Arrivals include start-up firms such as Snapchat, Pandora, eHarmony, Dollar Shave Club and Boingo Wireless.
That’s creating additional demand for office space, as well as residential units for the growing Millennial employee base.
American cities claimed 18 of the top 30 places on the list, including four of the top five. Boston was ranked third, Chicago fourth and New York fifth. The Bay area was ranked 12th
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