Lisbon was considered the best place for executives working remotely. The “sunny climate”, the “low cost of living” and the “high-speed Internet” are the key factors that attract executives who have become digital nomads with the pandemic to the Portuguese capital. The first place is followed by Miami and Dubai and, in fourth place, the Algarve, according to a research by real estate broker Savills Plc, and published by Bloomberg on Wednesday.
“The pandemic has been a catalyst for executives to make the jump from office life. Lisbon offers the advantages of city living, and the benefits of being in the European Union,” says Paul Tostevin, director of global research at Savills.
According to director Lisbon real estate company Ricardo Garcia, neither the Portuguese capital, nor even the country, is likely to slow down the flow of remote workers “any time soon” as Lisbon has established itself as a tech hub.
“Companies are moving their headquarters to Portugal. The area is becoming more and more international and I don’t see Lisbon or Portugal slowing down anytime soon.”
In this year’s ranking, there is another Portuguese region: the Algarve, which occupies the fourth place. The climate, beaches and easy access to the rest of Europe encourage foreign investors to buy houses to use all year round, not just in the summer.
“People are making their holiday homes more permanent,” explains James Robinson, director of sales at QP Savills, the broker’s agency in the Algarve.