The Catalan capital Barcelona has ranked among the world’s best cities for new technology, in a study of the 25 most innovative urban centres.

Third-best for ‘dynamism and wellbeing’ and scoring highly on transport infrastructure and for encouraging cycling, Barcelona is a magnet for international investment thanks to its business environment, lifestyle, affordability and climate.

“Barcelona reinvented itself in the past few years, positioning itself as a ceter of reference for the technology sector in the south of Europe,” read the study, which included New York, San Francisco, London and Amsterdam in its top 10.

A strategic plan from the city’s authorities aims to attract extra funding and investment to turn Barcelona into a European hub for artificial intelligence. Major tech employers announced new offices in 2018, including Facebook, to counter fake news, and Amazon, to develop artificial intelligence capabilities.

Spain’s booming population is adding to pressure on real estate values across the country, including Barcelona, where residential prices have risen by 12 per cent in the past year, with further increases expected for 2019.

GRE Assets owns major development projects in Barcelona