Pittsburgh was rated the fifth best city in the world for long-term real estate investment in a report last week by Grosvenor Research. The 300-year-old, London based development firm rates cities based on resiliency and sustainable growth opportunities.
The Grosvenor “Resilient Cities” report
named Pittsburgh the fifth most resilient city in the world — following Toronto, Vancouver, Calgary and Chicago. The report studies the stability and prosperity of cities in guiding long-term property investment. Cities are ranked on climate, environment, resources, infrastructure and community affairs.
“The rest of the world is responding to the great things happening in Pittsburgh and my administration's promotion of sustainable growth policies to make our city a global leader,” said Mayor William Peduto. “Sustainable development projects we are investing in across the city will cement this reputation for decades.”
A press release from the mayor’s office stated that the study underscores why Pittsburgh is a good bet for real estate, particularly given its growth, good governance and the actions the Peduto administration is taking to mitigate climate risks and invest in infrastructure.
In a statement from the international firm, Grosvenor’s Group Research Director Dr. Richard Barkham said, “This research provides us with a powerful tool to use when looking at the risks and opportunities of long-term real estate investment in cities around the world.”
Writer: Caroline Gerdes
Source: Office of Mayor William Peduto