New York City ranked first in an index measuring 30 global tech-heavy cities analyzed by Savills, with San Francisco in second place and London third. In addition, five mainland Chinese cities entered the index rankings for the first time.

The Savills Tech Cities report concluded New York City’s number one slot was due to its ability to generate its own talent and global recruitment. New York City also got high points for its venture capital investment, which was billions of U.S. dollars greater than in San Francisco over the past three years. New York City’s rents for offices and housing are among the highest-scored categories. And the city scored poorly in plentiful transportation, and real estate costs.

San Francisco ranked second, dragged down by the world’s highest co-working costs. And London came in third globally, thanks to strong performance in “mobility” and “buzz,” remaining the dominant tech hub in Europe with three times more venture