TORONTO—A recent report from Grosvenor'sresearch team suggests that Canadian cities could be the best betfor long-term real estate investment, with Toronto,Vancouver and Calgary taking the first,second and third spots respectively.

The research ranks 50 of the world's top citiesaccording to their resilience: a product of their environmental andsocial vulnerability and adaptive capacity, which covers community,infrastructure, resources, environmental and climatic factors.

Chicago ranked fourth in overall resilience, coming in as thetop US city in the study, due in part to its inland location thatmakes it less vulnerable to rising sea levels and storms. Whenranked by adaptive capacity, however – the ability to cope with andrecover from adverse events – New York City took first place, asdemonstrated by its rapid recovery from both 9/11 and HurricaneSandy. US cities took six of the seven top spots in the adaptivecapacity ranking; New York is followed by Toronto, Los Angeles,Washington, DC, Chicago, San Francisco, and Houston.