Lisbon no.1 destination for digital nomads; Algarve fourth

  • 9 May, 22

Ranking based on research by real estate broker Savills Plc

There is “nowhere more accommodating than Lisbon for the wave of executives turning into digital nomads since the pandemic” – so says real estate broker Savills Plc, which has ranked 15 prime residential markets by their “appeal to long-term remote workers”.

The ranking has been reported by Bloomberg which says Lisbon’s “sunny climate and low cost of living has led to an influx of residents who are now able to log into work from anywhere.”

“The pandemic has been a catalyst for executives to make the jump from office life,” Paul Tostevin, director of world research at Savills, told Bloomberg. “Lisbon offers the advantages of city living, and the benefits of being in the European Union.”

Savills said speedy broadband is also among the reasons why remote workers are attracted to the city, which has become a “magnet” for international property investors. The publication cites Portugal’s National Statistics Institute (INE) to say foreigners are willing to pay more than double for a Lisbon home than domestic buyers.

Miami and Dubai are placed second and third on the ranking, followed closely by Portugal’s Algarve region in fourth.

“Already popular with holidaymakers, the area’s climate, beaches, and easy connections to the rest of Europe are spurring overseas buyers to purchase homes to use all year round,” Bloomberg says.

Cre: Portugalresident