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AvoidDebt

Cheap housing gives Frankfurt and Brussels edge as alternative to London

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Frankfurt was found to be 65% cheaper overall than London, at an average annual cost of €29,748 per worker – comprised of a residential cost of €22,151 and €7,597 in office costs. Of the major European cities in the study, only Berlin and Warsaw are cheaper, costing firms €27,456 and €22,204 a year respectively. 

“Importantly, cities like Warsaw and Berlin offer cheaper housing markets and are therefore particularly attractive to young people with limited equity seeking to put down roots and form families in stable communities. Due to the very high cost of accommodation, it is ever more difficult for young workers in the megacities of London and Paris to buy into the housing market.”

https://www.theguardian.com/politics/2017/mar/29/cheap-housing-gives-frankfurt-and-brussels-edge-as-alternative-to-london

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27 minutes ago, AvoidDebt said:

Frankfurt was found to be 65% cheaper overall than London, at an average annual cost of €29,748 per worker – comprised of a residential cost of €22,151 and €7,597 in office costs. Of the major European cities in the study, only Berlin and Warsaw are cheaper, costing firms €27,456 and €22,204 a year respectively. 

“Importantly, cities like Warsaw and Berlin offer cheaper housing markets and are therefore particularly attractive to young people with limited equity seeking to put down roots and form families in stable communities. Due to the very high cost of accommodation, it is ever more difficult for young workers in the megacities of London and Paris to buy into the housing market.”

https://www.theguardian.com/politics/2017/mar/29/cheap-housing-gives-frankfurt-and-brussels-edge-as-alternative-to-london

Yes, Yes, Yes . No surprise there. This was bound to happen.

Now that London has peaked is Frankfurt/Berlin/Warsaw a house price boom in making?

Question: what happens if there is a mass exodus of the young to these cheaper cities? Big Crash in London and big rise in Germany/Poland?

Stock market style rotation in play?

Edited by Fairyland

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23 minutes ago, hotairmail said:

They've got this the wrong way round. All else being equal, dwelling costs reflect incomes.

All else isn't equal though.

Which is why house prices are 9 times earnings in Daventry and 12 times earnings in South Hams. 

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8 hours ago, Futuroid said:

JP Morgan sniffing around Dublin as well:

https://www.theguardian.com/business/2017/mar/30/jp-morgan-dublin-office-building-1000-jobs-city-london

Ireland would be my choice as a big US firm - no language barrier, inside the EU and a "special relationship" already in existence with the USA. 

And what type of yuppie would be attracted to Ireland? The talent pool would be tiny

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12 hours ago, AvoidDebt said:

Frankfurt was found to be 65% cheaper overall than London, at an average annual cost of €29,748 per worker – comprised of a residential cost of €22,151 and €7,597 in office costs. Of the major European cities in the study, only Berlin and Warsaw are cheaper, costing firms €27,456 and €22,204 a year respectively. 

“Importantly, cities like Warsaw and Berlin offer cheaper housing markets and are therefore particularly attractive to young people with limited equity seeking to put down roots and form families in stable communities. Due to the very high cost of accommodation, it is ever more difficult for young workers in the megacities of London and Paris to buy into the housing market.”

https://www.theguardian.com/politics/2017/mar/29/cheap-housing-gives-frankfurt-and-brussels-edge-as-alternative-to-london

The fact Frankfurt, Berlin, Brussels and Warsaw are cheaper places to buy property than London ( and it should be noted Paris) is not exactly a new situation. 

http://news.bbc.co.uk/1/hi/events/the_launch_of_emu/inside_emu/225425.stm

As for Dublin having a price advantage over London so does Belfast, Manchester, Newcastle etc.

Re heating old news in the wake of the signing of Article 50 seems to be the plat de jour for a lot of journalists at the moment.

Anyway I loved the comment from the Deutsche Bank economist back in 1999 that Frankfurt was 'like Reading but not as interesting'.

Edited by stormymonday_2011

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6 hours ago, hotairmail said:

This is like saying Sunderland has the edge on London.

Neither Sunderland nor London will enable them to access the EU financial market after Brexit. Or did you not notice that part :rolleyes:

Same reason Lloyds announced this week they are opening a Brussels office. 

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7 hours ago, 999house said:

And what type of yuppie would be attracted to Ireland? The talent pool would be tiny

An Irish yuppie. They even have universities in Ireland now you know... ;)

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18 hours ago, Futuroid said:

JP Morgan sniffing around Dublin as well:

https://www.theguardian.com/business/2017/mar/30/jp-morgan-dublin-office-building-1000-jobs-city-london

Ireland would be my choice as a big US firm - no language barrier, inside the EU and a "special relationship" already in existence with the USA. 

Brilliant.  The more that leave the better. One can dream. It won't happen because they are all lying scumbags. More the pity.

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NOOOO don't gooooo!

Formula 1 Racing in the UK will look like this in 2025! And house prices will also go back to the 1960s levels!

Jack%20Barlow%20driving%201960%20Buckler

article-2532051-1864860100000578-781_634

backing_britain.jpg

^Look Brexiter!

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.

Quote

Cheap housing gives Frankfurt and Brussels edge as alternative to London

Apart from Monaco every city and town around the world has that edge on London - the only edge London has is the ability to print it's own money (and set its own interest rates) but other countries are catching up fast on that one - some have even overtaken.

Edited by billybong

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