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Birmingham has been named the º£½ÇÊÓƵ’s most investable city – and the sixth-best in Europe – by a prominent survey.

An annual survey of European investors’ intentions, which measures prospects, saw the city shoot up the rankings because of a fear of a property market bubble in global centres like London and Paris.

Indeed, while Birmingham was named sixth in the survey by Urban Land Institute (ULI) and adviser PwC – rising from 17th last year – London was only 10th. That was put down to prices being pushed up by sovereign wealth funds, pension funds and Asian insurers.

The report, Emerging Trends in Real Estate, A Balancing Act, states: “Regional markets are also having a renaissance.

“This is most evident in the º£½ÇÊÓƵ, where Birmingham now claims number six, up 14 places. With London so competitive that respondents talk of bubbles and overpricing, attention is shifting to Birmingham and other regional centres – a move that Emerging Trends Europe’s interviewees indicate is being echoed elsewhere in Europe.”

While Birmingham has had a in recent months, this is perhaps the most significant in investment terms, with only first-placed Berlin, Dublin, Madrid, Hamburg and Athens ahead of it on the list.

Edinburgh is the only other º£½ÇÊÓƵ city to feature in the top 25, at 19th place.

The research comes from a survey more than 500 of Europe’s top real estate investment experts by PwC and ULI.