Cape Verde 'ripe for investment'

Now is a very good time to invest in Cape Verde property, it has been stated.

Sales director at investment consultancy Emerging Real Estate Robert Medd said he concurred with the nation that the archipelago offers affordable and fairly-priced property at the moment.

"You can buy a one bed for EUR104,000 [GBP94,000] on a development that is smack on the beach and I do share that view; now is a good time to buy," he stated.

He said that the country's property market has survived the downturn well because of its many attributes.

These include year-round sunny weather, easy air access and the lack of a major time zone shift when travelling from the UK.

Cape Verde real estate firm Nocasa recently suggested that a lack of "excessive" price inflation had helped the country's property market avoid the sort of struggles seen in places like Spain.

Managing director Paul Akwei said the country has good prospects after avoiding any "lasting damage" from the global recession.

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