Chicago ranks in the top 5 on Schroders Global Cities Index
Posted on Chicago Agent Magazine on July 7, 2017 by Rincey Abraham.
Chicago was ranked by Schroders Global Cities Index for being a prime global location for real estate. Coming in at no. 4, Chicago is one of 18 American cities listed in the top 30 by Schroders.
The index utilized a number of factors to identify the most “economically vibrant cities” including the population age 15 and over as a way to gauge demand for goods and services, median household income, retail sales and gross domestic product. The index also factors potential future growth into its calculations and local university rankings.
“We see universities as being critical in powering city economies,” Tom Walker, the co-head of global real estate securities at Schroders, said. “Knowledge-based hubs are growing in economic strength with a positive knock-on to real estate markets in those locations.”
Out of those categories, Chicago ranked highest in university rankings at no. 7, followed by population at no. 13, household income and retail sales both ranking Chicago at no. 16 and GDP at no. 21.
According to Forbes, the index is used by “wealthy, global real estate investors and by institutional firms looking for the best long term value for fixed asset investments.”
Chicago has been gaining attention from a number of sources. The city was recently ranked as the second best city in the United States for its diverse experiences available to residents and visitors. It was also recently listed as one of the top cities targeted by millennials due to its job opportunities and growing economy.
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