The Savills Tech Cities Index measures what makes a successful Tech City. Our assessment for each city comprises of over 100 individual metrics, ranging from the number of days needed to start a business through to the cost of a flat white coffee. These metrics are grouped into six categories: business environment, tech environment, city buzz & wellness, talent pool, real estate costs, and mobility. Each category is weighted to reflect its importance to the tech sector. Savills European Tech Cities currently include London, Berlin, Dublin, Amsterdam, Paris, Barcelona and Stockholm (see below).

Q1–Q3 2019 office take-up from Europe’s Tech Cities was 2% below the same period in 2018, whereas total office demand was 4% below, indicating that cities with stronger tech presence have witnessed more resilient demand during times of uncertainty. Likewise, prime office rents in the tech cities have risen an average of 8% over the past 12 months, above the European average of 6.2%. In 2020, European Tech Cities rents are expected to grow a further 2% on average, in line with the European average.

The flexible office sector has accounted for a higher proportion of take-up in the Tech Cities, with 15% of total space taken from flex operators, above 13% in 2018. Comparatively higher levels of venture capital funding have boosted the number of startups looking for flexible lease terms in these cities.

_{Read the articles within European Offices Outlook below.}