Cape Verde set for property market recovery

The Cape Verde property market is set to benefit from a return of investor confidence to the area indicating that it is bouncing back from the downturn, it has been suggested.

Individuals looking to buy property in Cape Verde may wish to take note of news that real estate agents in the region are beginning to report an increase in the number of people placing enquiries.

Paul Akwei, managing director of property agent Noscasa, claimed that the market has been bolstered by local buyers, savvy investors looking for a bargain, retirees and wealthy individuals prepared to part with their cash for the perfect property.

"Prices are now settling at a level that is low enough to attract buyers but high enough to encourage sellers back into the market," he added.

"We are very optimistic for the future and believe that Cape Verde is one overseas destination that will continue to develop without any lasting damage."

In addition, Mr Akwei believes that investors will soon be afforded more bargaining power as the economy in the region begins to pick up and the market shifts towards the buyer.

Individuals investing in the group of islands will be able to enjoy the warm climate and low rainfall that the region offers.

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