(Bloomberg) -- Brexit bankers fleeing London take note: Frankfurt is the cheapest major financial center in the European Union to live and work, according to property broker Savills Plc. The combined annual cost of renting an apartment and the per-employee office space expense totaled just under 30,000 euros ($33,000) in the German city, less than half that of Paris. Frankfurt is emerging as the favored destination for investment banks such as Goldman Sachs Group Inc. that need hubs within the EU after Britain withdraws from the bloc.
To contact the reporter on this story: Gavin Finch in London at gfinch@bloomberg.net.
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Paul Armstrong, Keith Campbell
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