Berlin is poor but attractive – not only to Germans. Its high quality of living encourages people from all over the world to start their business in the German capital. Here they are: reasons three, four and five for Berlin being our Silicon Valley of Europe.
3) Favourable costs of living
Berlin is widely known and popular for its unbeatably low costs of living. Having been to Cologne, Hamburg or Munich, a Berlin visitor is very likely to be surprised by the low prices for accommodation, food and staff. Whether it’s lunch, office rents or parties, the slogan “poor but sexy” says it all. Especially when compared with other international megacities like London, Paris or New York, the capital of Germany impresses with relatively low-budget offers.
Even though in Berlin too, prices are rising, the city still does quite well when compared to other German and international cities. According to a report by the estate office Knight Frank (www.knightfrank.com) cited by CNBC (www.cnbc.com), the German capital scored with annual average prices per square metre of 326 US dollars in the fourth quarter of 2010. In Munich, to the contrary, the price was 43 per cent higher, meaning 469 US dollars. London, with 915 dollars, exceeded Berlin by even 180 per cent.
It does, however, get difficult when it comes to finding more room for enlarging one’s enterprise. Berlin, designed for the starting off fast but rather small, bigger rooms are not as easy to find as they have still been some years ago.
4) The German capital attracts international visitors
Berlin’s Mayor Klaus Wowereit called Berlin “poor but sexy” – and it is indeed: Just like comparable cities such as Barcelona, London or Paris, Berlin has a flair, an art scene and plenty of clubs and bars plus various cultural offers attracting tourists and globetrotters. The city is furthermore seeing an ever larger immigration, and that certainly does have to mean something.
Nice places to eat, an elaborated ecosystem, many conversational partners and events are equally attracting investors. People are coming to Berlin from all around the world and are spreading the start-up word. Whoever might not be interested in its nightlife, culture and contacts, Berlin can also boast to be the greenest European capital.
5) Berlin is easily accessible internationally
This may sound trivial, but accessibility is an important factor when choosing a suitable business location. Whoever has organized a conference in a city with bad transport connections knows that a poor infrastructure may present a hindrance for some potential participants. Here, Berlin boasts with a proximity to various airports, an elaborated road network and Europe’s largest interchange railway station.
Image credit: Flickr user traxon.