Cape Verde Property

According to MacauHub, in 2006 Cape Verde’s economy grew by a staggering 10.8% – the highest rate in almost a decade. These figures have come as quite a shock – well more of a welcome surprise. The government had only expected an economic growth of between 6 and 7%.

Culture and Charm
Cape Verde is distinctly unique from the mainland. It has a culture and charm all of its own.

Unlike most of the countries in West Africa, where they mainly practice Islam and Animism (the belief that souls inhabit all or most objects), the majority of Cape Verdeans are Catholic Mestizos. Their attitude and outlook on life is often more European than African.

Located around 400 miles off the west coast of Senegal, this small archipelago has a landscape, climate, language and culture all of its own – it’s like nowhere else in Africa.

In the north they speak Crioulo and on the southern islands Krioulo. Both dialects are based on colonial-era Portuguese and often incorporate some English and West African words.

Each individual island varies dramatically from the other; with ferocious volcanic landscapes, bubbling with sulphur and fire, flat arid deserts and lush green forests.

Cape Verde is often referred to as the “Canary Islands without the cement mixers”. Many fear that it’s only a matter of time before overdevelopment, concrete jungles and Karaoke bars take over. Whether or not they will is hard to say.

Cape Verde is a fascinating country. It’s completely unique and almost impossible to categorize; a European -African – third world – emerging market – desert-like – volcanic – lush green country in the middle of nowhere! Intriguing yet bewildering, this is all part of its charm.

Cape Verde Versus UK
The opportunities to create wealth by investing in property are “much more extensive overseas than they are in the UK”, according to Paul Collins, overseas property editor of the BuyAssociation website.

High capital growth rates mean high returns on your purchase. In Cape Verde, You can make more money both through property appreciation and rental yields – by your property going up in value and/or buy renting it out.

Cape Verde’s economy and property market are developing at a much quicker pace than the UK, giving investors the opportunity to pocket capital and rental returns in a shorter period of time.

Property for Sale in Cape Verde
Here are a few examples of prices on Cape Verde…

Studio Apartment Property for sale in Santa Maria, Cape Verde
Type: Studio
Sale Type: Off Plan
Price: £ 45,449

Studio apartment property, Salinas Sand, Sal, Cape Verde
Type: Apartment/Condo
Sale Type: Off Plan
Price: £ 46,413
Local price: Esc 7,557,243

Studio Apartment Property on Sal Island, Cape Verde
Type: Studio
Sale Type: Off Plan
Price: £ 47,894

The future of Cape Verde
Labeled everything from the “new Canary Islands” to Barbados without the jetlag”, Cape Verde is this year’s most hyped-up locations.

The locals must be terribly confused. Once an impoverished third world country, then all of a sudden one of the most talked about investment locations south of the Canaries.

Crime levels have gone up, albeit minimally, from non-existent to low. There are concerns about the darker side which mass tourism often brings.

Overall though, most agree that the positive far outweighs the negative and that the impact of (perhaps) mass tourism on this poor nation will be ultimately be beneficial with increased employment, a thriving economy and a better standard of living.

Trackback This Post | Subscribe to the comments through RSS Feed