Technology rents catching up with banks as digital economy expands
Demand for space suitable for technology workers increases as the number of companies grows
Berlin
THE gap is narrowing between the rent paid by technology-related companies and financial-services businesses in cities including San Francisco and Hong Kong as the digital economy expands.
Technology companies in San Francisco now pay the equivalent of 56 per cent of the rents per employee by financial firms, up from 42 per cent in 2008, according to a report to be published by Savills plc on Monday. That's increased to 33 per cent from 27 per cent in Hong Kong and to 47 per cent from 42 per cent globally.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further, as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million
US 30-year mortgage rate rises to five-month high of 7.24%