Samsung Won’t Open London Office Simply because ‘It’s Not A Fun Area To Stay Unless You’re Rich’

We all really like London but dwelling there is just too high priced, so much so even Samsung won’t established up an business office in the money.

Samsung Next, a $150 million technological know-how fund owned by the South Korean business, has preferred to have its European HQ in Berlin alternatively of London mainly because there were being no fairly priced neighbourhoods remaining.

Felix Petersen, the taking care of director, has explained to The Instances that the price tag of dwelling in the metropolis meant that it was ‘increasingly tough for people to establish companies’.

He explained to the paper:

In London, the price tag of dwelling, the price tag of obtaining about and the infrastructure suggest it is not a fun put to live unless of course you are really loaded, specifically for youthful people.

In Berlin, you can do stuff devoid of much revenue.

You can bicycle about or sit in a park.

There are uncommercialised zones.

Petersen also additional that it is almost unattainable to have small children in the money mainly because it is so dear to live there.

This is a taking care of director who clearly cares a large amount about the joy and high quality of lifestyle his staff members have.

The ordinary home price tag in London has occur near to £500,000 building building it a person of the world’s most high priced cities.

Berlin is regarded as to be comparatively inexpensive, specifically when you look at it to other German cities these kinds of as Munich and Frankfurt.

Ideally if firms these kinds of as Samsung are refusing to established up shop in London, the price tag of dwelling there will progressively begin to lower.

We can only desire however.

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