Cape Verde Property

As Cape Verde’s economy and tourist industry continues to grow, more and more developers and foreign investors are setting up here. With potential huge returns on investment, Cape Verde Property is big news.

According to the online newspaper, Business in Africa, “Cabo Verde was found to be the top new holiday destination for the UK tourist market”.

Cape Verde’s emerging real estate market is set to expand at a phenomenal rate. The three most popular islands are Sal, Santiago and Boa Vista.

Background – Cape Verde (Cabo Verde)
The Cape Verde islands are a group of ten idyllic tropical islands located off the west coast of Senegal (Africa), just one hour south of Spain’s Canary Islands.

They’re known for their lush green vegetation, spectacular mountain peaks and beautiful deserted beaches. These paradise islands offer an opportunity like no other to cut yourself off from the rest of the world.

Cape Verde has a warm, dry climate, with average annual temperatures that range from 68 °F (20 °C) to 77 °F (25 °C). It has the lowest temperatures of any West African country.

The official language of Cape Verde is Portuguese. But most Cape Verdeans speak the national language, Crioulo. Crioulo is a local dialect based on Portuguese and various African languages.

With a perfect year round warm climate (3 degrees warmer than the Canaries), excellent beaches and a stable economy, the Cape Verde Islands are well on their way to becoming the “new Canary Islands”.

Cape Verde’s emerging property Market
Up until recently, the islands have mainly attracted business investment from the UK and Ireland. Now, investors are coming from as far away as China.
According to local newspaper (A Semana) Chinese businessman David Chow intends to “invest potentially hundreds of millions of US dollars in the islands’ tourism industry”.

The surge in interest from the bigger players has had a positive influence on the many small investors, looking to buy property here.

Homebuyers, estate agents, investors and developers are now coming to realise the huge potential of Cabo Verde’s real estate market.

Why investors are choosing Cape Verde?
Cape Verde offers some very profitable investment opportunities. Compared to Spain and the Canary Islands, properties are still relatively cheap. Over the next few years, properties are expected to increase in value dramatically as the islands become more popular.

As Spain and the Canary Islands have become more and more saturated, investors have looking further south. With property still so cheap now is one of the best times to buy.

Cape Verde Property represents an excellent investment opportunity. Prices are still low and property vales are expected to increase dramatically. As well as being a top holiday destination, Cape Verde is widely regarded as the hottest investment area for 2007. All the major tour operators are now starting to invest heavily in this tropical paradise.

Cape Verde Buying Guide (Investment options & locations)
Two of the most popular investment options are off plan and buy to let.

Off Plan
With off plan investing you get your home when the price is at it’s lowest. Normally you’ll have to pay an initial deposit, followed by instalments at fixed dates until the project is completed. The advantage of this is that you only need a small mortgage.

When the development is finished you can either sell before taking the title deeds or rent it out on a short or long term basis.

Buy to let
In buy to let situation, you buy a property and rent it out as soon as possible. Ideally the rent should cover the cost of your mortgage and if you’ve planned it well, you might even have some money left over.

Popular locations Cape Verde
Sal is the most popular island for property investment, followed by Santiago and Boa Vista.

Sal (meaning “salt) Island is located around 460km from the West African coast and boasts all year round temperatures of between 22-27 degrees.

Many potential homebuyers and investors are now looking to Sal as it’s becoming one of the most fashionable resorts on the archipelago. It’s also home to an international airport with direct flights to Europe and the UK.

Santa Maria (on Sal) is now rapidly expanding and it’s predicted that in the future prices here will be at a premium.

The Cape Verde Islands
Located off the west coast of Africa, the archipelago consists of ten idyllic tropical islands, known for their spectacular mountain scenery and beautiful deserted beaches.

About 70 percent of Cape Verde’s people have mixed black African and Portuguese ancestry. Most of the rest of the people are black Africans. The official language of Cape Verde is Portuguese. But most Cape Verdeans speak the national language, Crioulo. Crioulo is a local dialect based on Portuguese and various African languages. Most Cape Verdeans are Roman Catholics.

Sao Tiago, the largest island, covers 383 square miles (991 square kilometres). Santo Antao is the second largest island, followed by Boa Vista, Fogo, Sao Nicolau, Maio, Sao Vicente, Sal, Brava, and Santa Luzia. Santa Luzia and the five islets are uninhabited.

Each of the islands has its own distinct natural character… from the volcanic Sao Nicolau to the diving paradise of Boa Vista. Santiago is often described as lush green paradise compared to Sal, (the “salt island”) which is a lot sandier.

Owning a Cape Verde Property
Cape Verde is an attractive alternative to the Caribbean. It has the same perfect climate and excellent beaches, yet it’s four hours less flying time.

Buying your own place here means owning your very own piece of tropical island with pristine white beaches, year round sunshine, endless charm and if you wish, significant rental potential.