Berlin experienced a record year for its office market in 2011, driven largely by a burgeoning technology start-up scene that is starting to attract the big players.
Surrendering to cliché, it appears that a new ‘Silicon Valley’ is springing up in the German capital after a 24.5% surge in office space leased by IT companies over the past 12 months.
Online retailers Amazon, Groupon and Zalando have all been attracted by Berlin real estate market’s relatively low rents and steady property prices.
When this is combined with a young, well educated and creative workforce, it creates an ideal location for start-up companies in the technology, media and telecommunications (TMT) sectors looking for the most talented workers. (more)