Cape Verde property tipped for infrastructure boost

A new Saudi-funded roadbuilding programme on the Cape Verde island of Fogo will help bolster the property market there, it has been stated.

Property editor for BuyAssociation Paul Collins said it is often the case with developing markets that the tourism and property sectors develop ahead of new infrastructure.

He noted: "In terms of overseas property it tends to be that people like to buy within an hour's drive of an international airport," adding that the new roads will mean that places further away from the airport will attract more investors as a result of the better access.

Mr Collins remarked that the road represents a "real opportunity" to boost the standing of Cape Verde's tourism and property sectors.

The development has seen the Saudi Fund for Development provide £8.7 million in loans for the new ring road, which will stretch for 80km around the island and link up three municipalities.

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