The Boston area is one of the five best cities in the world for technology companies and the talent they seek to attract and keep.
That is according to a new analysis from commercial brokerage Savills, which measured metropolitan regions by things such as business environment, tech environment, “city buzz and wellness,” talent pool, real estate costs, and transportation.
Boston ranked fifth overall and third domestically. New York was No. 1 in the world. In particular, Boston rated highly for its density of colleges and universities and for its robust biotechnology industry. More on how the region stacked up below.
The Savills study, of course, echoes similar reports in recent years that have also pegged the Boston region as one of the best for technology. Cambridge’s Kendall Square by itself is one of the top nexuses of technology globally.
And this status is one of the reasons that residential real estate is in such demand here—and why prices and rents are so high. Simply put, a lot of relatively well-compensated people need homes, and they’re willing to pay top dollar to lease or buy them.
- Tech cities in motion [Savills]
- As top innovation hub expands, can straining local infrastructure keep apace? [Curbed]
- Boston housing prices: Why they’re so high [Curbed Boston]