Three German cities — Munich, Berlin and Hamburg — were rated among the top five European markets for commercial real estate investment in an assessment prepared by the Urban Land Institute and PricewaterhouseCoopers.
Munich moved up one notch from its 2012 ranking to the top spot on the survey, with Berlin advancing two slots to number two and Hamburg jumping two ticks to the fifth spot. The largest improvement in the top 10 came from London, up seven slots to third.
Istanbul dropped to fourth from first; Paris and Moscow were unchanged at sixth and ninth, respectively, and Warsaw declined the most, to 10th place from seventh. Zurich improved to seventh from eighth and Stockholm slipped three places to eighth.