Berlin’s new tech recruits makes berlin's housing market at boom
New tech recruits in Berlin are being instructed to take any apartment they can get,
Because of city's housing shortage, Berlin startup in tech suffering from competitive risk with cities like London, paris and silicon valley
It's a huge task for a city that has expanded to become Europe's third-largest technology hub.
Newbies are stuck in berlin for a months insearch of permanent apartment.
Most of them are giving up and move back to home and the serious issue for new startups.
Where as with increasing inflation causes increasing in apartments rent which can't be affordable.
The main issue for Berlin's tech sector is a lack of supply, so higher wages provide little relaxation.
Because 75% of Berlin residents live in rented housing, housing policy has a substantial effect.
The city's housing crisis was accelerated by the hiring of thousands of software coders and engineers who were paid more than most locals.
Despite housing issues, the city's tech sector has reached key volume, thanks to success stories such as home-grown e-tailer Zalando SE.