Berlin: The Perfect Location

Berlin is the capital and federal state of the largest economy in Europe in terms of gross domestic product and the fourth strongest economy in the world (IMF). Compared to the rest of Germany, Berlin has the strongest average economic growth of all federal states in the past five years. Population growth, which is largely based on a positive migration balance, has been sustained for 14 consecutive years and is expected to continue until 2030 according to the population forecast of the Senate Administration for Urban Development. But not only the flourishing economy, also the extraordinary quality of life makes Berlin a magnet for international employees, students, company founders and families – people from all over the world who want to enjoy the special flair of this city. Like hardly any other European metropolis, Berlin stands for art, culture, education and high fashion, is the seat of government and at the same time radiates the energy of a newborn city.

Demographic Development

A state, the German capital, Germany’s largest city – this is how Berlin can be described today. The city has developed strongly in every respect since the fall of the Berlin Wall. Since 2011, the population has grown by an average of 46,000 inhabitants per year. Berlin is not only popular among Germans, but it is internationally sought-after residential location. 41% of those moving to Berlin come from other parts of Germany, but 21% come from other EU countries. With 18% of new Berliners being from Asia, Asia ranks 3rdas the place of origin.

Berlin’s increasing attractiveness and the accompanying population growth lead to a densification of living space, price increases, and increasing exclusivity.

  • Ø 46,000 new inhabitants per year
  • 3.8 million inhabitants forecasted for 2030
  • A sought-after residential location both nationally and internationally

Since the reunification in 1990, Berlin has been Germany’s federal and state capital. After the fall of the Berlin Wall, the decrease of subsidies and de-industrialization initially led to a decline in population. Since the beginning of the 2000s, however, Berlin’s attractiveness has increased significantly due to its cultural diversity, rich history, system upheaval, the number of new empty spaces, and low rents. Today, Berlin is growing rapidly and gaining importance in a European context as well. The capital is a developing metropolis, which leads to a densification of living space, price increases, and increasing exclusivity.

From 2011 onwards, the population growth has accelerated. Driven by a positive migration balance, the population has increased by an average of 46,000 inhabitants per year. According to the Senate department for Urban Development’s forecast, the intensity of migration to Berlin is expected to slow down until 2030 but remain positive (Fig. 1). A population of 3,828,000 is forecasted for 2030, which means a further population increase of 115,000 compared to 2017.

Influx by place of origin

Berlin became a very popular residential location, both nationally and internationally. The capital benefits from its positive image of being open, tolerant, green, and hip which attracts in particular young and international people to the city. 41% of those moving to Berlin come from other parts of Germany (as of 31.12.2016), whereby the immigration from the old federal states is significantly greater than from the federal states of former Eastern-Germany. With 21%, the largest share of international immigrants come from the EU, followed by Asian countries with 18% (Fig. 2). The migration balance, i.e. the difference between those moving to and those moving away from Berlin, is highest among foreigners (+31,891 inhabitants), followed by those from the old states (+16,633). In the case of the new federal states, the balance is negative (-8,111), meaning that more people move from Berlin to the new federal states than vice versa, primarily moving to the outskirts of Berlin and to other surrounding areas of the Berlin-Brandenburg metropolitan region.

Development of income

Those newly moving to Berlinare usually well qualified thus the disposable annual income in Berlin also increases. The disposable annual income (nominal) of Berlin residents, i.e. the income that remains after the deduction of direct taxes (e.g. income tax) and social security contributions from the gross income, has increased significantly since 1991 in parallel with the development in the whole of Germany and amounted to EUR 19,719 per person in 2016 (Germany: EUR 21,919 per person). While the average income in Berlin is still slightly below the national average, Berlin holds a leading position in economic growth: in the past four years, it has been 3% (Germany: 1.9%). Especially the information and communications sector contributes to the positive development and is well above Berlin’s overall economic development.

Economy

The capital of Germany is the fourth largest economic power in the world. Berlin is characterized by internationality, low rents, an excellent infrastructure as well as diverse cultural offerings. From an economic geographical point of view, the city also benefits of being the centre of the Berlin-Brandenburg metropolitan region, which comprises around 6 million people. The growth of the gross domestic product (GDP) has gained momentum since the mid-2000s. The main driving force behind the Berlin economy is the service sector, which accounts for 76% of the GDP. The Berlin labour market is also benefiting from this economic growth.

The unemployment rate fell by 3.6 percentage points to 8.1% between 2009 and July 2018. The number of companies in the creative industries has grown significantly since the beginning of the 2000s as well and became an important economic factor for Berlin. Along with Silicon Valley, Los Angeles, New York and London, Berlin is one of the top 5 start-up locations in 2018.

  • Economic upswing since 2004
  • Unemployment rate fell to 8.1% in July 2018
  • Berlin is among the Top 5 Start-Up Locations 2018

 

Economic Growth

Berlin has been in an economic upswing since 2004. The development of gross domestic product (GDP) has gained momentum since the mid-2000s (Fig. 4). The bursting of the real estate credit bubble in the USA in 2007/2008 and its far-reaching global economic consequences only led to a short-term decline in Berlin’s GDP in 2009 (- 1.4 %). Since then, Berlin’s annual economic growth has been above the German average, especially over the past four years (3.0 % versus 1.9 %). The Berlin economy is thus in a boom phase which, according to the Investitionsbank Berlin (IBB) forecast, will generate growth of 2.7 % in 2018. In the medium term, however, over-utilisation (capacity bottlenecks of companies, shortage of skilled workers) could lead to slower growth.

Economic Structure

The main driving force behind the Berlin economy is the service sector. This economic sector accounts for 76 % of GDP while the manufacturing sector accounts for 14% of GDP. In the services sector, business services, real estate and housing account for the largest share.

One of the growth segments of recent years in terms of both turnover and the number of employees was the information and communications sector, with annual growth rates well above Berlin’s overall economic development.

Employment

The number of employees who are subjects to social security contributions (SVP) increased by an average of 49,500 or 3.8% p.a. between 2013 and 2017 (Fig. 5). This shows how much the Berlin labour market has benefited from the economic growth in recent years. The unemployment rate fell by 3.6 percentage points to 8.1% between 2009 and July 2018 and the information and communications sector turned out to be a real job engine. The IBB expects a further growth of 55,000 SVP employees in 2018.

Highly qualified labour migration 

While only a few years ago the capital was considered “poor and sexy”, the prosperity of Berliners has been increasing for years. In addition to the attractiveness of the city, the economic growth also contributes to the city’s further growth. Since 2005, the number of employees subject to social insurance contributions (SVP) has risen continuously. Highly qualified specialists come to Berlin and help further develop the already resident economy. As the economy grows, more jobs are created, resulting in further immigration and an increase in wage levels. In the last 10 years, the average monthly net HH income has risen by about 25%. As a result, the purchasing power of the Berlin population has increased as well.

Start-ups

The growth of the capital is sustainably supported by its international attractiveness and economic growth. The number of companies in the creative industries has been growing significantly since the beginning of the 2000s which is an important economic factor for Berlin. The German capital with its low living costs, four universities and good infrastructural links to all districts not only offers excellent conditions for young companies but thanks to the Gruenderzeit buildings and red-brick architecture in trendy districts also a inspiring atmosphere.

Along with Silicon Valley, Los Angeles, New York and London, Berlin was among the top 5 start-up locations in 2018. In terms of investment volume for start-ups, Berlin ranks second after London in a European comparison. Also some German DAX 30 companies with global operations have chosen Berlin as one of their locations. These include Siemens (11,000 employees), Daimler (> 6,000 employees), Bayer (> 5,000 employees) and BMW (> 2,000 employees). The global headquarters of Bombardier Transportation (around 40,000 employees worldwide) is also located in Berlin, and companies such as Nike are relocating their German headquarters to the capital because they see it as a strategic growth target.

Industries of the future

Today, over 25% of SVP employees work in the economic sector of tomorrow. According to the European Union, the communication & IT, health, energy and transport & traffic sector are the industries of the future for which Berlin is well positioned. The city’s 5 universities, 5 colleges, 29 private universities ensure innovation and the highest density of academics in Germany.

Furthermore, the 49 non-university research institutions such as Max Plank, Leibnitz, Helmholtz, etc. attract many academics to the city, especially international academics. Due to its high internationality and innovative culture, the Berlin market is becoming increasingly attractive for international companies.

Development of the real estate market

Der Immobilienmarkt in Berlin

Berlin has all it takes to continue to develop into an important, prosperous European metropolitan region. Despite its relatively young history due to the separation of the city until the early 1990s, Berlin’s housing market is catching up to those of the other European metropolises. Thanks to the very low residential ownership rate of around 15%, Berlin offers a great deal of potential. Rising population figures, a future-oriented economic structure and framework conditions that enable low-risk development are excellent circumstances for sustainable investment. In addition, private pension provision will continue to gain in importance in Germany over the next few years – and so will the real estate asset class. This is because residential property serves as a secure investment product and an important element of retirement.

  • Low homeownership rate of around 15%
  • Slow increase in construction activity leads to significant excess demand, which results in a rise of purchase and rental prices and a drop in vacancy rate
  • Berlin is still cheap by international standards

Development of property prices

The stable dynamic economic situation combined with the strong influx of new residents is causing a high excess demand on the housing market, which cannot be reduced by the current construction activities. On the contrary: the number of dwellings needed is increasing year after year. Accordingly, rental and purchase prices for apartments have risen dynamically in recent years and by now, the price level has approached that of other major German cities. In a ten-year comparison, Berlin’s prices increased the most in Germany. The average price per square meter for a newly built condominium in Berlin is 52 % above the national average. This is partially thanks to the catch-up following the positive transition on the Berlin housing market in the mid-00s.

The average selling price for a new, non-occupied condominium in 2017 was 5,135 EUR/m² and thus around 60 % higher than in 2011. The average selling prices for non-occupied condominiums (+ 86 %) and rented condominiums (+ 78 %) rose even more significantly in the same period. The increased adoption of social preservation statutes (“milieu protection areas”) by the district authorities, which pursue the goal of mitigating rent increase on a small scale by restricting so-called “luxury renovations” and converting rented flats into owner-occupied flats, leads, conversely, to a decreasing supply of condominiums and thus potentially to a further price increase. According to the forecast of Verband Deutscher Pfandbriefbanken (vdp), price growth in Berlin will continue in the coming years. Berlin still offers a lot of development potential and thus considerable price jumps in still underdeveloped locations.

International comparison of real estate prices

By international standards, Berlin is still inexpensive. This is despite the fact that the capital has the highest increase in prices on the housing market of all major European cities in the past ten years. The attractiveness of Berlin for global buyers as a capital investment and for private use remains intact. Prices in the prime segment, in particular, are still very moderate in Berlin. In the German capital, for example, one can acquire 73 m2of living space for $1 million, while in London and New York for the same price one can get only 31 m2(as of 2018). In short: Berlin became a cosmopolitan city in economic, cultural and political terms. Additionally, the political situation is stable compared to many other countries. The experimental phase is coming to an end – Berlin is growing up.

Construction activity

In the wake of strong economic development and high population growth, construction activity in Berlin has also picked up considerably. While just under 4,500 apartments were completed in 2011 through new construction or construction work on existing buildings, this figure had risen to around 15,500 by 2017. The number of newly built freehold apartments also rose steadily but fell significantly for the first time in 2017. However, considering the average population growth of 46,000 people per year and a need for new 20,000 apartments per year by 2021, the completion figures for recent years are still clearly too low. The sharp rise in demand for housing combined with the inelastic supply of housing led to a drop in the vacancy rate to 1.7% in 2017 (Berlin-Brandenburgische Wohnungsunternehmen e.V.).

The housing industry and the public housing companies will not be able to satisfy the demand for living through new construction for several years, because plots are scarce, the construction industry is already in short supply with around 85% capacity utilization and only 15,000 new housing units being built in 2017 while 20,000 new housing units are needed every year. As a result, an increase in the value of Berlin residential real estate can still be expected.

Investment

Today, international investors, in particular investor groups from Europe and Asia, show great interest in German real estate. Currently, the German market is repeatedly being classified as a “safe haven” for Europe. While this may come as a surprise, after careful consideration it is understandable. The German real estate market may not be as large or as well-known as those of other countries, but it is characterized by a stable environment, strong investment opportunities, furthermore it is supported by good rental development and value increase. 

Considering the high demand for residential property paired with low supply and the relatively inexpensive real estate, it is easy to see why interest in the German real estate market continues to grow.

Lifestyle

Berlin. The city that never sleeps – or – the city of unlimited possibilities! When speaking of the German capital, culture, education, history, growth as well as diversity come to mind. Berlin is one of the greenest and most livable big cities in Europe.

The rich offer of cultural events, top-class restaurants, countless parks and the excellent public transportation network all contribute to the high quality of life in Berlin. Berlin historically has several city centers which brings liveliness to the city which in addition to the good air quality, drinkable tap water, a temperate climate contributes to a pleasant lifestyle.

  • More than 2,500 parks and gardens
  • 180 museums, 440 galleries, 150 theatres & 3 operas
  • Excellent public transportation network

Parks & Forests

Berlin is a lively metropolis that also has a quiet side, it is the greenest big city in Germany. The more than 2,500 spacious parks and green spaces create a relaxed environment for living and working. With over 5,500 hectares of green area in Berlin, there is plenty of space to take long walks and discover hidden trails. The Tiergarten, which alone is 210 hectares larger than Hyde Park, is located in the immediate vicinity of the Brandenburg Gate. But several other parks, such as the Charlottenburg Palace Park or the Botanical Garden, are also world-class. The most spectacular green space in Berlin and one of the largest inner-city open spaces in the world is the former Tempelhof Airport. Joggers, skaters, dog owners and families flying kites or having a picnic come together and enjoy the pleasant ambiance.

Berlin is also surrounded by numerous forests, most of which are under nature conservation law. These forests are complex ecosystems and make up a large proportion of the city’s area and thus play a very important role in reducing air pollution by producing oxygen, in protecting the natural habitat of animals and, last but not least, in providing space for leisure with the numerous hiking and bicycling trails.

Culture

Culture in Berlin

From a cultural perspective, with its rich history and its multitude of attractions Berlin has become one of the top European metropolises. The German capital is perceived nationally and internationally as a cultural and creative hotspot. Over its 800-year history, it has developed its own culture and the numbers speak for themselves: In Berlin, there are 3 operas, a concert hall, the Philharmonie and 8 symphony orchestras. The Deutsche Oper, the Komische Oper, the Staatsoper, and the Staatsballett Berlin present numerous productions of every era. Furthermore, in the Konzerthaus am Gendarmenmarkt and in the Berliner Philharmonie, guests can listen to the world’s most renowned orchestras.

Museums & Galleries

In more than 180 Berlin museums and 440 galleries, masterpieces of all eras and the art of tomorrow can be discovered. Certainly worth visiting is Berlin’s Museum Island which is the largest museum ensemble in the world and belongs to the UNESCO world heritage. Also, museums such as the German Currywurst Museum or the German Spy Museum enrich the cultural offerings. Inspired by the vibrant atmosphere and exuberant creativity, more and more artists from all over the world come to Berlin and make it one of the most exciting places in Europe.

Theatres & Cinemas

With 150 theatres and 130 cinemas, no other city in Germany offers such a variety of movies and shows as Berlin. The Deutsches Theater, the Schaubühne and the Berliner Ensemble continue to write theatre history to this day. The Berlinale is not only Germany’s most important film festival but, alongside Cannes and Venice, one of Europe’s most prominent festivals. Moreover, the modern shopping centers, designer boutiques, galleries and pop-up stores guarantee a delightful shopping experience.

Fairs & events

There is something interesting going on in Berlin all year round: events, concerts, exhibitions, theatre performances and more. Whether the ITB travel trade fair or the You youth trade fair, Berlin attracts visitors with numerous trade fairs and international congresses each year. Most of them are hosted at the Messegelände which is close to the Funkturm and next to the ICC. With 1,500 events a day, Berlin has established itself as the capital of events and a center for conferences, congresses, meetings. 

Around 11 million guests came to more than 131,000 events in Berlin in recent years. Among other things, the capital is well-known for its acknowledged scientific and medical events. Furthermore, the Green Week, the International Consumer Electronics Fair and the Berlinale are also highly acclaimed. Some events take place in the heart of the city. The “Fan Mile”, for example, a designated area to watch the European Football Championships and World Cup starts directly at the Brandenburg Gate and extends over the entire mile to the Victory Column in the middle of the Tiergarten.

Public transportation

Berlin has an excellent public transportation network that connects all parts of the city. The Berliner Verkehrsbetriebe (BVG) is responsible for the public transportation in Berlin, namely for operating subways, trams and buses along with the several ferries on Berlin’s waterways. The density and quality of Berlin’s public transportation network are outstanding and since the introduction of the continuous subway night-traffic, Berlin became a front runner from an international perspective. Public transportation in Berlin is part of the Verkehrsverbund Berlin-Brandenburg (VBB), therefore its tariffs and regulations apply within the city and in its agglomeration. The Berlin is subdivided into the A, B, and C tariff zones. A day ticket for Berlin’s city center (AB zone) can be purchased for 7.00 EUR.

Berlin is to become even more mobile, safer and climate-friendly. In such a growing megacity, this will only succeed if the potential of all means of transport – bus, train, bicycle, car – and pedestrians are taken into account. Thus, the environmental association of pedestrian and cycle traffic, as well as the public transportation system, have a special role to play. The Berlin Mobility Act, which is unique in Germany, creates a basis for this which takes all interests into account.

Education

Education in Berlin

Berlin has excellent educational institutions from in international comparison. Access to education is hardly as affordable in any other big city as it is in the German capital. The tuition fees of public and private institutions are far below those of other international cities. Furthermore, the quality of Berlin’s daycare centers, schools, universities and technical colleges is extraordinarily good. The city’s academic education, in particular, enjoys a worldwide reputation. Berlin has a total of 2477 daycare centers, 776 schools, 5 state universities, 5 public universities of applied sciences and 29 private universities.

  • Very high standard of education 
  • Daycare centers, schools, universities and technical colleges 
  • Low tuition fees
  • Sehr hoher Bildungsstandard
  • Kitas, Schulen, Hoch- und Fachhochschulen 
  • Niedrige Unterrichtsgebühren

Daycares

According to the Amt für Statistik Berlin-Brandenburg, there are a total of 2477 daycare centers with the capacity for around 168,000 children in which free early-childhood care before the age of one is offered (as of 1 March 2017). Parents have the following choice when looking for a suitable daycare:

They have the option of trained educators looking after their children in a day care center (Kita) from early in the morning until late in the afternoon. For international children, there are around 117 multilingual daycare centers in Berlin that offer bilingual care: English, French, Spanish, Russian, Italian, Portuguese, Polish, Turkish, Arabic, Greek, Czech, Chinese, Vietnamese or Hebrew are spoken in addition to German.

An alternative is private child daycare. In this case, private caregivers look after small groups of children either full-time or half-day. This type of care is provided either in specific educational facilities or in the private household of the caregivers, or in the family’s own household.

Schools

There is a total of 776 schools in Berlin, 26 of which offer bilingual education. At a bilingual school, half of the classes are taught in German and half in one of the nine partner languages – English, French, Greek, Italian, Polish, Portuguese, Russian, Spanish and Turkish – from the first grade on. In Berlin, compulsory schooling begins between the age of 5 and 6 and lasts ten years. In contrast to many other German states, in which primary school lasts 4 years, in the German capital primary schools lasts 6 years after which the pupils can attend lower secondary school.

The choice of a suitable educational institution goes hand in hand with the decision between a state school or an independent school (private school). While the former is free of charge, private schools have a monthly tuition fee, which can vary considerably from 70 to 1200 euros. In order to ensure the possibility of balancing family and work, all Berlin primary schools are all-day schools since the 2010/2011 school year. Additionally, Berlin offers a wide range of secondary schools: public and private high schools, integrated secondary schools, community schools and schools with a special educational focus. Pupils acquire the MSA certificate after the 10th grade and can then change to a vocational school or an upper secondary school center (OSZ) to obtain their high school degree after 12 to 13 school years.

Universities and technical colleges

With 5 state universities, 5 public colleges and 29 private universities, Berlin offers an extremely wide range of study options in European comparison. With its renowned universities and colleges, the German capital stands for innovation and, with thanks to the 100,000 students living in Berlin, has the highest density of academics in Germany. Half of them alone study almost 700 different majors at Berlin’s four largest universities: Humboldt-Universität zu Berlin, Freie Universität Berlin, Technische Universität Berlin and Universität der Künste Berlin. Charité – Universitätsmedizin Berlin, one of the largest university hospitals in Europe, is also highly regarded.

Costs of studying

Moreover, almost no other metropolis is as affordable as Berlin when it comes to studying. State universities do not charge high tuition fees, only a so-called semester fee averaging 315 euros, which even includes a semester ticket for public transport in Berlin and the surrounding area. In other international cities such as New York, Los Angeles, London, Sydney, Tokyo, and Singapore, on the other hand, tuition fees can range between 7,500 and 14,000 euros per semester. In Berlin, even private institutions charge less in average compared to the above-mentioned metropolises.

International students

In addition, 49 non-university research institutions such as the Max Planck Institute or the Helmholtz-Zentrum Berlin attract academics from all over the world to the city. Over 50% of the international graduates remain in the German capital after their studies because they expect a stable economic market here. After graduation, they are granted an 18-month residence permit, which gives them enough time to find a suitable job or to develop their own business idea, such as launching a start-up.

Healthcare

According to an international study recently published in the “The Lancet” medical journal, Germany ranks 20th among the best healthcare systems in the world. The German healthcare system is equipped with excellent medical technologies and insurance is compulsory. Specifically, Berlin is acknowledged worldwide for its cutting-edge medical sector – thanks to Europe’s largest university hospital, Charité, and a dense network of high-ranking research facilities and institutes located in Berlin. The German capital offers national and international patients a wide spectrum of modern medical treatments. More than 80 clinics and around 9,200 privately practicing doctors work every day to provide the best medical services aligned with German quality and service standards. In addition, a large number of highly qualified international specialists treat patients from all over the world in Berlin.

  • 81 hospitals/clinics in Berlin
  • High quality-standards & excellent medical technology
  • Location of the world famous Charité

Healthcare

The German health system provides the financial necessitates in the event of illness and guarantees that citizens do not have to bear all costs of their treatment themselves. The system provides three legally required types of healthcare services: accident-, long-term care-, and health insurance. Accident insurance refers to an insurance covering the risk of an accident and long-term care insurance covers the risk of needing long-term care. Finally, health insurance covers the risks associated with any illness. In the German health care system, one has the choice between statutory (GKV) or private (PKV) health insurance. Over 85% of the German population is covered by statutory health insurance, while 10% of the population is privately insured.

Health Insurance

Berlin – The location of cutting-edge medicine

Berlin is regarded worldwide as a location for cutting-edge medicine – More than 80 clinics and around 9,200 privately practicing doctors work every day to provide the best medical services aligned with German quality and service standards.  According to the Federal Ministry of Health, there were 22,073 doctors and 4,274 dentists working in the state of Berlin at the beginning of 2017. In addition, there are a large number of highly qualified international specialists in Berlin who treat patients from all over the world. The growing number of international patients clearly shows that Berlin has every right to call itself the “medical capital” of Germany. In addition, Berlin has 854 pharmacies (as of 2015).

Medical facilities in Berlin

The German capital is home to many renowned medical institutions. The world-famous Charité is one of the best and largest hospitals in Europe. Doctors and scientists conduct researches, heal and teach at the highest level here. More than half of the German Nobel Prize winners in medicine and physiology come from Charité. In 2018, the news magazine “Focus” ranked Charité for the sixth time in a row first among the 10 best hospitals in Germany. In addition to Charité, there are numerous other clinics in Berlin that are internationally recognized and attract patients from all over the world. The German Heart Center Berlin (DHZB), for example, is one of the leading heart centers in Europe. All cardiovascular diseases are treated here with the help of modern technology, intensive research, close interdisciplinary cooperation and competence. The HELIOS Klinikum in Berlin-Buch, for example, is a maximum care hospital in the north part of the city. With more than 25 specialist departments, ten competence centers and six institutes, patients receive interdisciplinary treatments.

Innovative Pharmaceutics in Berlin

Berlin is an attractive location also for many large pharmaceutical companies due to its outstanding research centers and clinics, the high availability of well-trained specialists and the proximity to decision-makers in the healthcare sector. More and more global players and medium-sized companies are relocating their headquarters to Berlin in order to take advantage of these conditions. By now, Berlin’s pharmaceutical companies generate around 13% of the total German pharmaceutical sales. In addition, the excellent cooperation opportunities with renowned universities, research institutes and biotechnology companies as the best prerequisites for innovative projects make the city even more attractive. Biotechnology, in particular, is a driver of innovation in the Berlin-Brandenburg region. The sector shows steady growth and start-up dynamics.

Pharmaceutical companies in Berlin 

There are currently about 30 pharmaceutical companies in the Berlin region, and they employ around 10,000 people. One of the most well-known German companies located in Berlin is Bayer Pharma AG. Bayer specializes in pharmaceuticals, consumer health, animal health and crop science. Some of their most popular products are Aspirin, Iberogast and Bepanthen. Pfizer, the world’s largest pharmaceutical company, also has its headquarters in Berlin. Pfizer’s main areas of research include cancer and pain treatments as well as the treatment of inflammatory diseases and diseases of the central nervous system. The Berlin headquarter focuses on human pharmaceuticals and consumer healthcare. Well-known products are ThermaCare, VitaSprint and Centrum.

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