Why this is one of my favorite cities…

October 11, 2010
Cape Town, South Africa

If someone held a gun to my head and forced me to choose one place to live in for the rest of my life, Cape Town would be on a very short list.

It’s not that I don’t like other cities– the world is full of amazing places that are full of opportunity… that’s one of the reasons I travel so much. But to spend an entire life in one location– well, it would have to be a really special place, and Cape Town definitely qualifies.

For starters, the city has one of the most stunning natural backdrops anywhere on Earth.  It’s hard to not be immediately smitten by the sheer beauty of Table Mountain presiding over the point at which the Atlantic and Indian Oceans meet.


Then there’s the weather– it’s great.  With more hours of annual sunshine than San Diego or Miami, the climate is moderate and even-tempered.  Summertime highs are in the upper 70s, cooling to the high 50s at night, and winter weather reaches mid 60s in the day and mid 40s at night (that’s 25/15 and 17/7 in Celsius).

Living costs are low, reasonable at worst. Grocery prices, for example, are about 20% less than what you would pay in North America, and you can eat quite well for $20-$25/head with wine at an upscale restaurant.

Residential rental costs for prime oceanfront flats are about $1.50 per square foot– that’s roughly $1800/month for a spacious, furnished apartment in one of the nicest parts of town on the beach… this isn’t screamingly cheap, but quite reasonable in terms of value for the price.

Purchasing such a property runs about 2,000 to 2,500 rand per square foot. At today’s valuation, that’s about $335/square foot. Again– reasonable, but not shockingly cheap.

The city itself is lovely– modern, diverse, and sophisticated.  With 3.5 million inhabitants, it’s no Shanghai or Buenos Aires… but the Cape lacks nothing in terms of the amenities you would find in a tier 1 European or North American city.

The people here are very civilized– the culture is a strong mix of European and African heritage; early European settlers to South Africa are from the same stock as American, Canadian, and Australian frontiersmen– bold pioneers who were willing to take huge risks in search of a better life.

The pioneer spirit is still very much alive in Cape Town, and the city has become a hub of the continent’s most enterprising financial and creative explorers. I’ve met a variety of entrepreneurs during this most recent trip ranging from finance to tech to mining. Each has been extremely impressive, and I may end up investing in some of the deals.

From a business perspective, Capetonians seem to have a high risk tolerance and are comfortable giving their entrepreneurial ventures a try… and also investing seed capital in others’ ventures.  This ‘can do’ attitude is reminiscent of towns like Vancouver, Austin, or San Francisco.

Similar to those cities as well, the culture in Cape Town is very active. It seems like everyone is always biking, hiking, climbing, surfing, playing rugby, etc.

The other nice thing about the population is that it’s spread out. There’s plenty of room for everyone on the roads, the beaches, the shops, and the restaurants. Cape Town feels alive, but it doesn’t feel crowded; and because of the wide-open spaces, you can take a drive from the city center and be in the middle of nowhere in just 20 minutes.

Lastly, no city is complete for me unless it has a solid international airport. It does me no good if I have to drive three hours to get to a local airport, then connect at another regional airport, then connect to an even bigger international airport.

Nonstop flights from Cape Town include London, Munich, Amsterdam, Frankfurt, Dubai, Buenos Aires, Singapore, Kuala Lumpur, Istanbul, Abu Dhabi, etc. as well as regional destinations like Namibia, Mauritius, and Angola. One stop in Johannesburg gets you to Mumbai, Hong Kong, Sydney, New York, Zurich, Bangkok, Tel Aviv, Sao Paulo, and more.

So what’s the downside?

You’ve probably heard about the crime in South Africa. Yes, it exists… but not to the extent that’s passed around the Internet or on television. As my friends here have told me, “Look, we live on a continent where 12-year old boys kill each other with AK-47s. On the balance, things are pretty OK here.”

Africa in general is not for the faint of heart, even in a place as civilized as Cape Town. Things are certainly different in this part of the world– exceptionally rewarding, but different. The bottom line, though, is that while crime is still a factor to consider in Cape Town, it no longer dominates society.

Private security guards now patrol neighborhoods, business centers, and retail outlets, and this has improved things; though there are some occasional bad apples, the private contractors tend to actually be courteous and helpful.

Conversely, police officers don’t have a noticeable presence en masse. In Cape Town, there are no black-clad storm-troopers marching in the streets as a show of force– this is not a police state, and that scores highly with me.

Quoting crime statistics is generally a futile exercise because it relies on data that the governments have an incentive to fabricate… but here’s what I found to be the most promising evidence that the situation is improving:

Ten years ago, crime was so bad in South Africa that many people simply left the country. Over the last few years, they’ve started coming back… and they’re staying, not only because they feel safe and comfortable, but because the opportunities are so compelling.

Tomorrow, I’ll explain what I’ve learned about those opportunities.

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