Cape Verde Property for sale
The Cape Verde Islands
are a new and up and coming destination for overseas property buyers.
With 4 main islands to choose from and a building boom, there are
many types of properties to view.
Property for sale in Cape Verde has been described as “the new Canary Islands” or
the “European Caribbean”. This property market is in its infancy
and has been featured on Channel 4’s “A Place in the Sun” programme.
At present the property prices are still very low and have large potential for
growth and ROI.
The rental market is still small, but in time the tour operators will start to
have a presence there as new and cheaper flights open up.
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Why buy as an investment
in the Cape Verde Islands?
1) The Cape Verde Islands are untouched and have very little development;
the landscapes and natural beauty are really breathtaking. It is
also steeped in history and culture.
2) Weather in Cape Verde - Average temperatures are about 25°C
all year round, like the Caribbean with 10+ hours of sunshine per
day. As they are situated on the Atlantic there is always a cooling
breeze blowing! It also doesn’t rain very much.
4) Cape Verde gained independence from the Portuguese in 1975 and have stood the test of time as they are very stable, both politically and financially. In part this is due to the Cape Verdean Escudo being directly linked to the Euro.
5) When the Santiago Island recently gained it’s new airport, it really has opened the Cape Verde islands up to property investors. Direct flights from the UK are due to start later in the year. Cape Verde has recently signed an ‘Open Skies’ agreement with the US, which again opens this areas up to new travellers. Flight time between Cape Verde and the UK is about 4-5 hours without the jet lag!
6) Prices have remained low with a studio apartment costing as little as 45,000 Euros, 2-bed apartments from 85,000 Euros and luxury villas from 135,000 Euros. Cape Verde has placed itself on the foreign property investor’s map and as it is such a young market, potential capital growth is very promising.
7) The rental market at present will be slow as it is such a new market, however tourist numbers are due to increase 4 times in the next few years and with the new airport and flights from UK, the rental market should flourish. Developers are offering at present 6% guaranteed returns for the first few years.
Recommended alternative countries:
Morocco Property has
two main property investment areas. Marina Smir and surrounding
area in Tetouan and Saidia. Marrakech and Agadir have much smaller
less popular real estate markets.