Digital nomads open Cape Town to the world
Category Industry News
Why work from home when you can work from Cape Town?
It's been a standard question for decades, with an equally standard answer: my company is based outside of Cape Town.
But that answer no longer holds much water, because as remote work becomes the norm, so does a new breed of worker: the digital nomad.
Simply put, a digital nomad is a remote worker who travels to different destinations on a regular basis. And they are quickly becoming the standard ideal as the world moves towards a digitally nomadic future.
For the real estate market, particularly in cities like Cape Town, the new-aged nomads are providing home owners and rental agents with a new opportunity in the form of 'long stay' travellers.
City of Cape Town and Western Cape open for nomads
Cape Town, meanwhile, has been listed as one of the most attractive cities in the world for digital nomads according to Nomad List. Citing affordability and a large expat community, the city is ranked in the top 50, with the Mother City's picturesque beauty also considered a heady lure for nomadic visitors.
The City of Cape Town has launched a Remote Working campaign in a bid to lure remote workers to the city, while provincially-funded agency, Wesgro, is driving the messaging even further by providing accommodation and co-working spaces with a portal to advertise their offerings ().
So what does this mean for the real estate industry?
While South Africa does not have a remote working visa, the Western Cape government, led by Premier Alan Winde, is lobbying for President Cyril Ramaphosa and Home Affairs Minister Aaron Motsoaledi to change that. Success will mean international travellers will be able to stay for several months while working remotely, providing the local market with a massive boost.
While it will take time, and other countries have already got such visas in place, it's a positive move to ensure the country is able to take advantage of a trend that is very likely to become normal.
For now, however, the Cape Town real estate industry has a chance to take advantage of the domestic market, with semigration very likely to grow as more locals look to move to the coast. With remote work largely accepted as the way forward, and companies around the country changing their attitude towards having employees in the office at all times, workers will be taking advantage by setting up homes in more desirable places.
Cape Town has it all for remote workers
What makes Cape Town such an attractive option for remote work, however, goes far beyond its natural beauty and coastal lifestyle.
Cape Town has the highest number of co-working spaces in Africa, one the largest open-fibre networks on the continent, a well-developed network of local and international entrepreneurs and is considered by many to be the tech hub of Africa, with more than 450 tech firms, employing more than 40 000 people. The Cape Town - Stellenbosch eco-system is larger than Nairobi and Lagos combined.
Add that to the undeniable lure of the lifestyle - where else can you find a combination pristine coast, world class wineries and restaurants and an abundance of outdoor spaces? - and you have the perfect remote working package deal.
A new world, means a new market
With all the right facilities, the natural environment, and a willing push by local government, there has never been a better opportunity for investors to look at the Cape Town real estate market, with the remote working market top of mind.
Areas like the Atlantic Seaboard, Newlands and Southern Suburb gems such as Tokai and Steenberg have always been popular, with a combination of amenities and family-friendly environments making them always desirable. This means consumers looking to make the move will be quick to secure their slice of heaven with work situated in the home office or a local co-working space already assured.
The Mother City has always been a leading light in transitioning quickly and with all the positive movement towards embracing a mobile worker, it looks no different this time around.
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Author: The Agency Property Group
