New Tech Centers Sprout in Europe
March 6, 2018
New technology centers are mushrooming throughout Europe, boosting office markets in unlikely places.
Technology and related companies are fueling 20% of the office space demand in small capital cities like Lisbon, Vilnius, Lithuania, and Tallinn, Estonia, according to brokerage firms. Leasing is equally strong in second-tier cities such as Barcelona, Kraków, Poland, and Edinburgh that are becoming popular with the tech industry for their lower rents and growing pools of talent.
Strong leasing demand from tech companies is helping to boost overall leasing activity in many of these markets.