It is no secret that innovation drives productivity and bolsters economies. Cities with high concentrations of human capital are more likely to witness a future of prosperity. In a recent study, this idea was put to the test in relation to real estate, and, unsurprisingly, cities with higher concentrations of innovation and talent recorded the fastest office rental growth and attract the highest proportions of real estate capital. This means that innovation and talent act as metrics for identifying long-term growth potential.
Boston ranks highly on the list of the most innovative cities in the world at number six, largely due to its enormous student and research population. In both talent concentration and innovation Boston ranks within the top 10 cities globally. Kendall Square in Cambridge is viewed by some as the “most innovative square mile on the planet.” With this powerfully innovative core, it is no surprise that Boston consistently ranks as one of the most flourishing real estate markets in the country.