Cape Town ranked as one of the top destinations for remote workers
The City of Cape Town has been ranked as the 17th best destination in the world for ‘executive nomads’, and the top for prime rent.
This is according to Savills’ newly-published Executive Nomad Index, which ranks the top 25 locations globally for ‘executive nomads’.
“The more common digital nomad is symbolised by the young backpacker; however, executive nomads tend to be older and more likely travel with family in tow,” explains Kelcie Sellers, associate director at Savills World Research.
“This places a greater emphasis on the quality of life aspects that these top international locations can provide, such as safety and access to healthcare or education facilities. For these individuals both physical networking and digital connectivity are important and must be accounted for.
The 25 destinations were analysed based on their appeal and ease of access for long-term remote workers.
Each were then been ranked for their internet speed, air connectivity, stability in climate, prime residential rental market prices and overall quality of life.
All the ranked nations either have a digital nomad visa programme, or equivalent, or in the case of the US and European countries, are already part of a large economic bloc that allows free movement of people for living or work.
Looking at the rankings, Dubai, United Arab Emirates (UAE) has retained its lead position, while the UAE capital Abu Dhabi is hot on its heels, moving from fourth place in 2023 to second this year.
“Dubai and Abu Dhabi are incredibly appealing to executive nomads, because they offer everything you need to thrive both personally and professionally, from modern infrastructure to high quality of life,” said Andrew Cummings, head of Residential Agency Middle East at Savills.
While these cities are well known for their tourist attractions and luxury hotels, we’ve seen a real focus on creating a lively business environment where there are plenty of opportunities to grow, build networks and make lifelong connections,” added Cummings.
These top spots are closely followed by Malaga, Spain in third, Miami, United States of America (USA) in fourth and Lisbon, Portugal in fifth.
Dr. Andrew Golding, chief executive of the Pam Golding Property group (Savills associate in South Africa) said that now that South Africa has introduced its Digital Nomad Visa programme, “Cape Town stands to benefit as a key, world-class destination for these international travellers and business people in the global south.”
“With recent elections bringing the prospect of political and economic stability, the port city has a lot to offer the executive nomad,” said Savills.
“Cape Town’s ranking on Savills’ Executive Nomad Index instills confidence in the desirability of our world-renowned city as a sought-after destination,” said Basil Moraitis, Regional Head of Pam Golding Properties in the Western Cape.
”Having a well-run city adds to the appeal of Cape Town, as does its natural scenic beauty and amenities,”
“Another significant advantage for executive nomads is the favourable exchange rate to the US Dollar, the Pound, and the Euro, which allows for comfortable living at a fraction of the cost compared to other major cities,” added Moraitis.
“This year, and comfortably slotting in at number 17, Cape Town features for the first time in Savills Executive Nomad Index…. These destinations offer favourable climates year-round, high quality of life and have established prime residential markets,” said Golding.
According to the study, executive nomads are more likely to rent, and put an emphasis on extra space and proximity to local amenities.
Prime rents have risen, on average, by 5% in the last year across the 25 locations monitored in the Savills index, with some urban markets seeing increases of more than 15%.”
Moraitis said that these nomads largely focus on short-term property rentals up to three months at a time, “which means it doesn’t really impact on the long-term rental market.”
“Particularly appealing to digital nomads are the rental options in the vibey Cape Town City Bowl area, known for its cosmopolitan atmosphere,” said Moraitis:
He said that thfollowing apartment rentals are currently in high demand for short stays of three to six months:
• Studios and one-bedroom loft apartments ranging from R10,000 to R18,000 per month;
• Two-bedroom apartments priced from R20,000 to R30,000 per month.
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