Global investors and occupiers are now more focused on the US as a region that looks relatively sheltered from the headwinds blowing from across the rest of the world. It may have remained longer in recession and seen its real estate markets fall significantly after 2007, but both the economic and real estate recovery have been marked.

Savills 12 Cities report takes a look at its following world cities; New York, San Francisco, Chicago, Los Angeles and Miami, which each have their own characteristics but are known globally. As such, they command world city The US’s five world cities attract a wide range of overseas investment for a variety of different reasons status and attract, for different reasons, a wide variety of overseas investment while playing host to a wide range of international companies and enterprises.

US World Cities at a glance:

■ Chicago: Finance, publishing, medical services

■ San Francisco: Technology, tourism, bio-tech

■ Los Angeles: Media and entertainment, port services, education

■ Miami: Tourism, construction, Latin American regional HQs

■ New York: Finance, business services, entertainment 

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^{Source: USDA, Savills Research}

Demand for commercial space is across the board for these cities but they are diverse in what they offer the occupier. New York and San Francisco are fast growing talent magnets while Chicago continues to supply corporate headquarters for big hitters. Miami has attracted the research institutes, medical and life sciences and Los Angeles is different again – cheaper space for backroom and corporate America. Collectively, office rental growth in 2014 was strong and with continued GDP and job growth is likely to stay that way.

Unlike many global cities US real estate markets are highly domestic in nature and although are capable of attracting foreign capital are not hugely reliant on it. Consequently, the strengthening dollar has not quenched the demand from buyers as US real estate values become more expensive in a global context.

Counter-intuitively some investors looking for safe haven stores of wealth in solid currency will draw comfort from the strength of the dollar. Increasingly, Asian investors, for example, who are starting to see their own region and European cities, notably London, appearing fully valued are casting their nets US-ward.

^{Yolande Barnes is Head of Savills World Research. This content first appeared in 12 Cities publication.}