It has risen from 25th in 2021 in an annual report from accountants PricewaterhouseCoopers and the Urban Land Institute.
The 19th annual Emerging Trends in Real Estate Europe found a clear upturn in confidence despite the impact of Covid-19 on real estate.
The report is based on the views of 844 property professionals across 25 countries, and records the highest levels of business confidence since 2014.
Jonathan Clements, real estate tax director at PwC UK, said: “Birmingham is is well placed to benefit from the impact of further investment due to its strategic location, excellent transport links and highly skilled workforce, as well as the upcoming Commonwealth Games and the Government’s levelling up agenda, with central government departments, including HMRC and DWP, moving to the West Midlands.”
Nick Green, chairman of ULI Midlands, said: "The report demonstrates that Birmingham and the West Midlands is in a strong position to build on the progress made in 2021. With £5.1 billion being invested in rail, tram and bus rapid transport systems, Birmingham is well positioned to leverage its geographic location to attract future investment.
“With a highly-skilled workforce, Birmingham also offers a pipeline of talent which will serve the city and the West Midlands for years to come. To continue attracting talent, however, the city needs to be a leader in the country’s transition to a green future. We know that making the city a sustainable place to live and work will continue to attract talent, as green investment and net zero initiatives are at the forefront of people’s minds following COP26.”