31. July 2017 - Berliner Morgenpost
Space is Running Out for Companies in Berlin
For a long time Berlin was known as a city abundant with free spaces. This changed with Berlin’s economic upturn. Offices are almost full and industrial areas are scarce.
Usually John Amram successfully supplies his well-heeled clients with high-value properties, but the entrepreneur is facing problems in other areas; he wants to expand his company but cannot find new office spaces. […]
This article was originally published in German only. A summary in English is available.
Summary
The article begins by highlighting the problem John Amram currently faces: he wants to expand his company, but is struggling to find available office spaces. He cites a lack of offers and prices as high as Frankfurt as his reasons. Moving on, it is mentioned that industry spaces are just as scarce due to the economic upturn and competition from residential development. Next, the focus lies back on office spaces: in Berlin only 2.7-3.0 % of spaces are currently empty, compared to 10 % in Frankfurt. The pressure can be felt especially strongly in the inner-city, and it is advised that companies look for offices on the outskirts of Berlin. Amram notes that he has seen an increased interested in Berlin’s commercial real estate by foreign investors, the reason being that prices are too high for residential real estate to be profitable, whereas a yield of three to four per cent can be achieved in the commercial sector. The same can be found for industrial spaces. The article then quotes Berlin’s Senator for Economic Affairs Ramona Pop who admits there’s no real overview over the current situation, and concludes by introducing the CleanTech Business Park in the area of Marzahn as an example, which is struggling to attract companies due to strict rules and lack of advertising.
