With modern low density developments being built in prime locations in Cape Verde, today’s property purchasers are enjoying a new breed of high quality apartment for their investment in the sun.
In line with the Cape Verde National Development Programme (see our market growth in Cape Verde section) aimed at increasing annual tourist numbers, the construction programme on the islands leans heavily towards maximum unit volume, meaning apartments are by far the most readily available type of accommodation on the market today.
In addition, high availability of land for sale in Cape Verde around coastal areas is allowing apartment blocks to be built virtually on the beach fronts, affording the kind of views, position and convenience which purchasers of investment property in Cape Verde expect. At this early stage of the property market, investors can take full advantage of excellent capital growth and rental opportunities.
Drawing a comparison with other more established property markets and their former years of development, you will see a stark contrast in the quality of the frontline beach construction: for example, the tourist boom in 1960s Spain led to the construction of basic apartment blocks of poor quality where the aim was to simply provide as much accommodation as possible, with few other criteria. In Cape Verde however, frontline construction is being undertaken at a time when tourists and property investors demand more than simply a roof over their head. The design of new dwellings must be both aesthetically pleasing and fall within strict parameters, as laid down by the local authorities, to prevent the coastlines from resembling concrete jungles in the future. Facilities such as bars, restaurants, gymnasiums, saunas, swimming pools and landscaped gardens are now commonplace within all new developments. In the future, this factor alone will help to boost the islands’ exclusive feel.
With many of the developers on the island being of European descent, the style, design and features on many new apartment developments have a distinctly European feel. There are many different unit types available which will appeal to those with various budgets and strategies. However, as in any property market, the units with the best views and position are always the most popular and are the first to sell upon project release.
Penthouses command the best views, the most floor and terrace space and they often possess other features not found in other units on the same development, Due to a greater demand, penthouses are understandably the most expensive unit in any apartment project. Some penthouse apartments are even constructed with their own private pools on the terrace. Investors are sometimes also drawn to the added security of being on the highest floor.
Although relatively rare on the Cape Verde islands, there are a limited number of developments offering duplex apartments. Spanning at least 2 floors, increased living space is the main attraction of these units. Duplexes can often also be considered equally to penthouses as they are typically located on the top floors of a building.
Garden apartments are a favorite for those investors with young families, who look to make the most of their investment for private use. Being on the ground floor takes away any anxiety parents may have for the safety of their children as opposed to being in a higher unit. Garden apartments shall typically have their own private terrace space, which then opens up to the developments landscaped gardens and/or pool areas, or possibly even the beach.
Studio apartments are always the preferred investment for those with smaller budgets, looking to get a step onto the Cape Verde Property market as first time investors. Studios are always the smallest unit on site and offer combined living and sleeping space.
With the huge investment currently taking place in Cape Verde, supply has to work very hard to keep up with demand.
First you will need to complete your research on the islands, deciding which location will best suit your needs. When this has been settled, our team of advisors will be happy to assist you on the best investment option, whether this is a rental scheme, holiday home, pure investment or a Cape Verde property portfolio.
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