Cape Verde real estate 'receives aid boost'

Cape Verde's economy, in particular its property and tourism industries, has received some assistance in the form of aid from the US Millennium Challenge Corporation.

The organisation recently announced it will inject $66.2 million (£41.7 million) into the country's sanitation, water and land management schemes, with managing director of Feltrim International Adam Cornwell claiming this will significantly improve the nation's prospects.

He explained while Cape Verde has done much to boost its economy, further assistance is required due to its "scant natural resources and little rainfall".

According to Feltrim International, Cape Verde's property market is set to benefit, with improvements to the water services, more reliable land information and reforms in the legal system all combining to make it more attractive to investors.

Earlier this month, TheMoveChannel revealed there was a 2.8 per cent increase in the number of searches conducted relating to real estate in Cape Verde in January this year, compared to December 2011.

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