Toronto, Vancouver and Calgary are the world’s top cities for long-term real estate investment, a report by Grosvenor’s research said this week.
Grosvernor, an international property development company based in the U.K., ranks 50 of the world’s cities on their resilience, measured by their vulnerability and how well they can cope with adverse events.
“The investment of city leaders in infrastructure and its commitment to upgrading it over the decades has put Toronto at the top of Grosvenor’s list of the world’s most resilient cities,” said Richard Barkham, Grosvenor’s Group research director. “For investors in property and real estate, it makes Canada a very sound long-term investment.”
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The Canadian trio beat out all cities in the United States, with Chicago ranking fourth on the list.
The five least resilient cities were Dhaka, Jakarta, Cairo, Manila and Mumbai.
The centuries-old property company, whose study is being released at the Urban Land Institute’s Spring Meeting in Vancouver this week, takes a long view of real estate, not a quick return on investment.