To read this full article you need to be subscribed to Institutional Real Estate Europe
Triumph of the City: Finally, people want to live and work in Berlin
In his book Triumph of the City, Edward Glaeser highlights the importance of the city for economic growth. Cities are highly productive, generate a disproportionately high share of economic output and drive innovation. Those who live in cities earn more and live longer than their rural counterparts. Despite ever faster transport connections and the ability to communicate via live video streams across the world, cities continue to attract more people, acting as conduits of ideas, amenities and culture and allowing people to connect. However, not all cities are successful and some end up in terminal decline. This article seeks to identify the key characteristics of a successful city and focuses on one city in particular that we believe is set to be transformed over the next decade and beyond. That city is Berlin.
Characteristics of a successful city
Successful cities are built around human capital. The density of highly-educated people, formed f