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This is a trend playing out across the globe . In the San Francisco Bay Area , it is urban San Francisco , rather than sprawling Silicon Valley , that is experiencing strongest demand from occupiers . Grade A office availability in the Valley stands at 21 %, compared to 11 % in San Francisco . San Francisco now attracts the lion ’ s share of venture capital , having trailed Silicon Valley for a growing number of years .
To ensure access to talent , even the big firms such as Google and LinkedIn have opened offices in downtown San Francisco , despite being headquartered just down the road in Mountain View and Sunnyvale , respectively . A base in downtown San Francisco provides employees with a range of amenities on their doorstep , allowing them to work and play in a single location , often combined with a short walk or cycle to work .
Savills Tech Cities top 10 Savills has determined the following cities to be at the top of global shopping lists for tech companies looking for space in which to locate :
• Austin , Texas , USA
• San Francisco , California , USA
• New York , New York , USA
• London , UK
• Amsterdam , Netherlands
• Toronto , Ontario , Canada
• Copenhagen , Denmark
• Boston , Massachusetts , USA
• Berlin , Germany
• Singapore , Singapore
Identifying the top cities The migration of talent from suburban locations to urban ones represents an important flow of human capital . If this capital is flocking to cities and away from isolated business parks , the industry needs to know what makes these urban centres successful and the ones to pick next . With that in mind , Savills World
Tech cities like Singapore act as magnets for global talent and innovation
Research set about identifying the cities across the world at the forefront of Tech , and understanding the factors that make them successful .
Our Tech Cities have fast-growing domestic tech industries , and are a top choice for expanding global tech companies . Importantly , they have vibrant urban environments and are magnets for talent . In addition to rent , our assessment for each city comprises over 100 individual metrics , ranging
Our Tech Cities offer something that business parks find hard to recreate : a certain urban noir or city buzz from the number of days needed to start a business through to the cost of a flat white coffee . These metrics are grouped into five categories : business environment , tech environment , city buzz and wellness , talent pool , and real estate costs . Each category is weighted to reflect its importance to the sector .
City buzz Our Tech Cities offer something that business parks find hard to recreate : a certain urban noir or city buzz . Big cities such as London , New York and Tokyo do well here . They are congested megalopolises but people like to live and work in these cities because they offer a rich variety of entertainment , retail , nightlife and cultural experiences .
But the major world centres are expensive and crowded , and this is where smaller cities often have an edge . City
24 | UKSPA BREAKTHROUGH | WINTER 2017