For the second year in a row, The Economist ranked Adelaide as the world’s fifth most livable city. Composed of ten different cities around the world, the list evaluates the criteria for what makes one city more livable than another with data gathered by the Economist Intelligence Unit.
Real estate in Adelaide will likely benefit from the high ranking, as more people flock to the city in search of superior living conditions. According to the Economist’s Global Liveability Report, the highest ranking cities are not only the most stable, but also score well for culture, environment, education, infrastructure, and accessibility and quality of healthcare.
Though rated fifth of 140 cities worldwide, Lord Mayor Stephen Yarwood believes Adelaide has a good chance of knocking Melbourne out of the top spot next year. He said Adelaide has invested in major public works such as Victoria Square, Rundle Mall and Adelaide Oval, all of which could position the city for an even higher ranking next year.
Australia dominated the list with Sydney in 7th place and Perth coming in 9th.
The report was originally designed to test whether Human Resource Departments needed to assign a hardship allowance as part of expatriate relocation. Today, city councils use the liveability report to compare their locations against others.
Nevertheless, owners and investors in property in Adelaide can expect to see their assets increase in value as they continue to receive international recognition as a safe, stable and exciting place to live.