Cape Verde 'is a property hotspot'

Cape Verde is becoming more and more popular with second home buyers from overseas, analysts have stated.

According to property experts NuBricks.com, the west African nation has become an "overseas property hotspot" in recent years.

The website said this is partially due to efforts to boost tourism in the country, as this has created a variety of investment opportunities in different areas.

However, it said Cape Verde's regulatory system has also helped make it attractive to foreign buyers.

Chintan Mahida, a spokesperson for NuBricks.com, observed: "In simple terms, the laws of Cape Verde do not differentiate between foreign investors and local businesses, offering a level of security and rights."

He added that this level of protection is missing in many other developing nations across the world.

According to the Organisation of Economic Cooperation and Development, Cape Verde's economy grew by 6.6 per cent last year.

Figures cited by MacauHub show that it is expecting this rate of growth to increase to 7.6 per cent in 2008.

 

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