Cape Verde property recovery noted by IMF

A recovery in homebuilding has been noted by the International Monetary Fund (IMF), following a mission by the body to the country.

The IMF report following the recent visit to the archipelago said: "Foreign direct investment has stabilised and construction on several private investment projects has resumed."

It praised the policies of the country's government and said that it is showing solid signs of recovery from the effects of the world economic slowdown.

The nation has also been "weathering the global economic crisis from a position of strength", the IMF declared.

Such a situation may encourage those thinking of buying property in Cape Verde.

Last month, the country was praised as a good place to invest by sales director at investment consultancy Emerging Real Estate Robert Medd.

He stated that "now is a good time to buy" in the country, noting that it is possible to get a beachside property for around EUR104,000 (GBP95,000).