Hamburg climber of the year among the most dynamic cities
Boomtown Hamburg: The Hanseatic city has achieved a top 10 position as one of the most dynamic cities in Germany at present. This is according to the city ranking published on Thursday by IW Consult on behalf of the internet portal Immoscout24 and the magazine "Wirtschaftswoche". "The Hanseatic city stormed from 42nd place in the previous year to 6th place, making it the climber of the year 2023," it said. The frontrunner is the Biontech location Mainz, which, as in the previous year, benefited in terms of tax revenue primarily from the success of the coronavirus vaccine manufacturer Biontech.
The annual survey compares the current situation (level) and rates of change (dynamics) of various indicators of 71 independent cities with more than 100,000 inhabitants. Factors such as economic structure, labor market, real estate and quality of life are analyzed. An additional sustainability index includes economic, ecological and social factors. In the level ranking, which describes the economic and social situation, Hamburg remains in 11th place. Munich has been the undisputed leader here since 2013.
"The dynamism of the major cities is primarily attributable to the real estate market. Rental price trends are particularly decisive here," it said. "Berlin, Cologne and Hamburg have experienced the largest increase in asking rents in a comparison of major cities over the last five years and are in the top three places in the real estate market." However, this is a double-edged sword: demand for living space is particularly high in these cities due to their strong appeal, says Immoscout24 Managing Director Gesa Crockford. "Although rising rents give the metropolitan areas a good position in the dynamic ranking, the combination of a shortage of supply and stagnating new construction is increasingly becoming a problem for those looking to rent."
Hamburg's economic success not only propels it in the dynamic city ranking but also significantly advances several municipalities in their economic situation. For instance, rising rental prices in cities like Hamburg, Berlin, and Cologne have positively impacted their positions in the dynamic ranking, yet the scarcity of housing and stagnant construction rates are issues that arise from this success.
Source: www.dpa.com
