Stockholm is already one of the hottest tech hubs in the world, with more unicorn startups per capita than any other region except Silicon Valley. And it shows no signs of stopping.
Indeed, Stockholm is the fastest-growing city in Europe, with the city's population expected to top one million in the next five years amid record immigration.
The City of Stockholm recently announced it was teaming up with the region’s tech sector and companies like Spotify, Klarna and iZettle to make it easier for international talent to move to Stockholm.
At the same time, the city’s housing queues have become infamous. So where will all the new talent live?
“The housing situation in Stockholm is actually quite nuanced,” says Julika Lamberth, Business Development Manager for Stockholm Business Region Development, the City’s official investment promotion agency . “For instance, many people who move to Stockholm want to live in the city centre, but there are great commuting alternatives if you want to live nearby.”
Lamberth notes that some 140,000 apartments are currently being built in central Stockholm, to be completed by 2020. But there are many more options in greater Stockholm. In areas outside of central Stockholm cities can also make apartment buildings higher, allowing for up to 24 floors - currently a rarity in Sweden. Just last week the city made plans to bulldoze an old industrial area in Årstaberg, making way for 900 new apartments and a school.
To help speed along such developments, Stockholm Business Region Development is stepping up efforts to link tech firms with local municipalities and real estate companies in the area.
“We have an extensive network,” Lamberth says. “A partnership, consisting of 53 municipalities in the region each with a great number of private landlords and real estate players.”
Stockholm Business Region Development works in close collaboration with the region’s tech companies.
“We have investigated what their needs are and connected some of them with real estate players inside and outside of Stockholm – like Järfälla, Lidingö, and Sundbyberg, to mention a few,” she says.