Malaga Spain #2 – The Global annual Executive Nomad Index
The pandemic, coupled with the digital revolution, has sparked the emergence of the digital nomad phenomenon. The opportunity to live and work from any corner of the globe is no longer exclusive to tech industry professionals; now, individuals from various sectors have embraced the expatriate lifestyle.
The annual Executive Nomad Index, a report crafted by real estate consultancy Savills that ranks the most appealing cities or regions worldwide for high-level remote workers, hones in on executive nomads. Making its debut in this esteemed list, Malaga claims the second spot, nestled between Dubai and surpassing Barcelona and Palma de Mallorca.
The top twenty global locations for remote workers are as follows: Dubai, Malaga, Miami, Abu Dhabi, Lisbon, Barbados, Barcelona, Palma de Mallorca, Algarve, Saint Lucia, Cayman Islands, Dubrovnik, Malta, Antigua, Côte d’Azur, Mauritius, Athens, Cyprus, Bahamas, and Tuscany.
Malaga’s ascent to international recognition, fueled by Google’s investment in the city and echoed by other multinationals like Vodafone, Citi, and Globant, is pivotal in understanding its remarkable entrance into this prestigious ranking. Yet beyond the buzz, the city offers substantial incentives to lure the “wave of executives turned digital nomads post-pandemic,” as cited in the report.
The Executive Nomad Index evaluates each city across five categories: internet connection speed, quality of life, climate, air connectivity, and the cost of high-end rental housing. With a total score of 32.38 points, Malaga trails only by two points from the top-ranking city, Dubai. Malaga excelled in quality of life, earning the highest score across the entire list (10.38). It also garnered commendable scores for internet connection (8.06) and prime rental market competitiveness (5.26). The city’s climate received a satisfactory score (4.45), outstripping Dubai and Abu Dhabi but falling short of tropical paradises such as Barbados, Cayman Islands, St. Lucia, and Miami.
All the cities featured in this ranking possess either a “digital nomad visa program or equivalent, or are part of a larger economic bloc that permits free movement for living or working.” They boast year-round favorable climates, high-quality lifestyles, and premier residential markets, according to Savills.
The report emphasized how Malaga has escalated its prominence in recent years, evolving into a cultural and tourist hotspot known for its exceptional museums and enchanting historic district. José Félix Pérez-Peña, Director of Savills Andalucía, highlighted, “The endorsement from major companies like Google has elevated Malaga’s stature. These corporations proclaim Malaga as the ultimate destination, spreading their recommendations by word of mouth.”
Spain’s introduction of the digital nomad visa in 2022 was noted as a catalyst for Malaga’s ascent to the second position in the ranking. The city’s appealing climate, coastline, culture, gastronomy, and affordable rental market have been compelling draws. The cost of living in Malaga remains budget-friendly compared to other major European cities, with people perceiving the city as a “safe” haven.
While the affluent have traditionally favored expansive villas in the city’s eastern zone, the western coast has emerged as a hub for regeneration and flagship developments. Savills highlighted the Sierra Blanca Tower, setting new pricing benchmarks in Malaga at around 10,000 euros per square meter. Typical prime residential rents range between 15 to 22 euros per square meter, although the report acknowledged a scarcity of homes in this bracket to satisfy demand.
“Executive nomads seek a seamless transition upon arrival, encompassing furnishings and internet connectivity,” Pérez-Peña explained. “We are observing a surge in startups catering to this market, but the property supply falls short,” he added.
Pérez-Peña also stressed the insufficiency of high-quality offices and coworking spaces to accommodate the influx of nomadic workers converging on Malaga. “We haven’t been constructing enough to meet the demand,” he concluded.
Malaga, Spain: Exploring the Charms of the Costa del Sol
Nestled along the sun-kissed coast of the Mediterranean Sea, Malaga is a vibrant Spanish city that boasts a rich tapestry of history, culture, and natural beauty. As the capital of the Costa del Sol, Malaga is not only a bustling urban hub but also a gateway to the idyllic towns of Marbella, Estepona, and Benahavis, each offering its own unique allure.
Malaga: A Tapestry of History and Culture
Malaga’s historical significance dates back to ancient times, when it was founded by the Phoenicians. This storied past is evident in the city’s architecture, museums, and archeological sites. One of the most iconic landmarks is the Alcazaba, a fortified palace built in the 11th century that stands as a testament to the city’s Moorish heritage. Nearby, the Gibralfaro Castle offers panoramic views of the city and the sea, providing a glimpse into Malaga’s strategic importance throughout the ages.
The birthplace of renowned artist Pablo Picasso, Malaga celebrates its artistic heritage with the Picasso Museum, showcasing a diverse collection of his works. The historic center is a labyrinth of narrow streets, adorned with colorful buildings, charming squares, and bustling markets. Here, you can indulge in authentic Andalusian cuisine at local tapas bars and immerse yourself in the lively atmosphere of the city’s streets.
Marbella: Glamour and Luxury
Just a stone’s throw from Malaga lies Marbella, a playground for the rich and famous. This glamorous resort town is synonymous with luxury living, boasting upscale boutiques, high-end restaurants, and a picturesque marina filled with lavish yachts. The iconic Golden Mile is lined with opulent villas and mansions, attracting celebrities and jet-setters from around the world.
Marbella’s charm extends beyond its glitzy reputation. The Old Town, also known as Casco Antiguo, offers a charming contrast with its cobblestone streets, traditional architecture, and cozy squares. The Plaza de los Naranjos, or Orange Square, is the heart of the Old Town and a delightful spot to enjoy a leisurely coffee or tapas.
Estepona: A Coastal Gem
Continuing westward from Marbella, you’ll encounter Estepona, a coastal town known for its laid-back ambiance and stunning beaches. Estepona strikes a balance between modernity and tradition, with its well-preserved historic center featuring colorful flower-filled streets, vibrant murals, and a distinct Andalusian character.
Estepona’s beaches are a haven for relaxation and water activities, and the town’s charming marina is perfect for a leisurely stroll. The Selwo Aventura wildlife park offers a unique opportunity to encounter exotic animals in a naturalistic setting, making it a popular destination for families.
Benahavis: Gastronomy and Natural Beauty
Nestled in the hills just inland from Marbella, Benahavis is a hidden gem known for its exquisite dining scene and breathtaking landscapes. Often referred to as the “Dining Room of the Costa del Sol,” Benahavis boasts a remarkable concentration of restaurants, ranging from traditional Spanish eateries to fine dining establishments.
Surrounded by lush mountains and rolling hills, Benahavis offers ample opportunities for outdoor activities such as hiking, horseback riding, and golf. The town itself is a charming Andalusian village with narrow streets, white-washed buildings, and an inviting atmosphere.
Discovering the Costa del Sol’s Treasures
From the historical richness of Malaga to the glitz of Marbella, the laid-back charm of Estepona, and the gastronomic delights of Benahavis, the Costa del Sol offers a diverse array of experiences. Whether you’re drawn to the cultural heritage, the luxurious lifestyle, the natural beauty, or the culinary scene, this region of Spain is a tapestry of captivating destinations waiting to be explored.
Stefan Katafai offers a personalized approach to help you find the perfect property in Marbella that aligns with your budget and preferences. With his extensive network and market knowledge, Stefan will conduct a tailored search to identify suitable options for you, whether you’re interested in a luxurious villa, a beachfront apartment, or a charming townhouse.
Navigating the complex real estate market in Marbella can be daunting, but with Stefan’s guidance, you can proceed with confidence. He will provide comprehensive information about potential properties, including their location, amenities, market value, and investment potential. Stefan’s expertise in negotiations and deal structuring ensures that you make well-informed decisions and secure the best possible deal.
In addition to property search and acquisition, Stefan can assist you with other aspects of the purchase process. Whether it’s property reform, legal matters, or connecting with trusted professionals like lawyers, architects, and contractors, he has a wide network of contacts to streamline the experience for you.
If you’re considering a real estate investment in Marbella, reach out to Stefan Katafai today to discuss your requirements and benefit from his expertise. With his personalized approach and commitment to client satisfaction, Stefan will guide you towards a profitable and successful investment in the beautiful region of Marbella.
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