The traditional hierarchy of global cities is breaking down, according to experts, as technology, globalization and urbanization trends have started to attract real estate investment on a broader scale.
According to a new report by commercial real estate services firm JLL, the new trends have allowed some small and midsize cities to rival the larger, more established cities in drawing investment capital. These “new world” cities score high with residents and businesses for livability, sustainability and fast adaption of new technology and transportation infrastructure, says Jeremy Kelly, director of global research programs at JLL. Basically, people and companies want to move to those cities, whether it due to a strong spike in jobs, as is the case with San Francisco, or mild climate and high quality of life, such as in Denver.
