Real Estate & Investment News in Cape Verde from Propertyshowrooms.com

Growing tourism industry aiding Cape Verde property market

Wed, 16 May 2012 00:00:00 GMT

The expansion of Cape Verde's tourism industry is having a positive impact on its real estate sector.

According to Adam Cornwell, managing director of Feltrim International, there are numerous reasons why the island nation off the coast of west Africa appeals to holidaymakers, which is, in turn, boosting demand for places to stay.

Mr Cornwell described Cape Verde as a "credible winter sun alternative to the Canary Islands but far more affordable". He added the number of tourists arriving in the nation is expected to reach one million by 2015, which he commented is "fantastic news for emerging market property investors".

There are also opportunities to purchase completed Cape Verde real estate, rather than having to buy off-plan, which makes it a good choice for more cautious buyers, he stated.

Earlier this month, TheMoveChannel revealed enquiries for property in Cape Verde climbed in April, with the destination moving up by three places to become the tenth most popular destination among potential buyers.

Growth recorded for Cape Verde hotels

Wed, 4 Apr 2012 00:00:00 GMT

The number of hotels on Cape Verde increased by 9.6 per cent between 2010 and 2011, highlighting the country's growing popularity with tourists.

Feltrim International cited figures from the archipelago's National Statistics Institute, which also revealed the volume of available rooms had climbed by 34.1 per cent in the same 12-month period.

Adam Cornwell, managing director of the firm, stated: "It is projected that Cape Verde will reach half a million tourists annually by 2015 and one million by 2020 as northern Europeans wake up to the potential of this mid-haul winter sun destination."

The growing number of holidaymakers visiting the islands may also bode well for anyone who rents out Cape Verde property.

Last month, HomeAway noted the country entered its list of the top ten most popular holiday destinations in 2011. Regional director for the organisation in the UK Andy Cockburn pointed out there are "good opportunities" in Cape Verde for those seeking a real estate investment outside of Europe.

Cape Verde 'offers property investment potential'

Fri, 23 Mar 2012 00:00:00 GMT

Cape Verde may attract more interest from property investors due to the rising numbers of tourists visiting the nation.

Figures published by HomeAway revealed the country entered its list of the top ten most popular holiday destinations for the first time in 2011.

According to the firm, an increase in the number of charter flights to Cape Verde, as well as a growing market for package holidays, have helped boost its tourism industry.

Regional director for HomeAway UK Andy Cockburn explained these factors could all result in more investors buying real estate in Cape Verde, as well as other hotspots like Dubai and Florida.

"For those looking for an alternative to Europe for property investment, these mid to long-haul markets provide good opportunities. Not only can properties at attractive prices still be found, but they have strong rental potential too," he stated.

Speaking to Todmorden News earlier this month, Victoria Rigg, of Whitesands Travel, commented that Cape Verde is an up-and-coming holiday destination because it is not commercialised and is much more accessible and cheaper than places like the Caribbean.

Cape Verde real estate 'receives aid boost'

Wed, 22 Feb 2012 00:00:00 GMT

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.

Cape Verde 'proving popular among property buyers'

Tue, 7 Feb 2012 00:00:00 GMT

There was a rise in the number of enquiries about property in Cape Verde during January.

According to TheMoveChannel, searches for real estate in the island nation jumped by 2.8 per cent at the start of 2012, compared to the final month of 2011.

Director of the firm Dan Johnson explained some investors are looking for alternatives to the more popular markets of Spain and the US.

"With its building tourist numbers and relatively un-crowded real estate market, Cape Verde's imbalance between supply and demand is seeing these buyers turn to somewhere smaller in the hope of bigger returns," he stated.

Last month, The Heritage Foundation 2012 Index of Economic Freedom highlighted Cape Verde's strengths as a place to do business, noting it is ranked fourth in Sub-Saharan Africa based on its economic credentials.

The organisation commented private property is "fairly well protected" and revealed the investment climate in the nation has become more favourable over the past year.

Two types of investor targeting Cape Verde

Mon, 12 Sep 2011 00:00:00 GMT

There is a clear distinction between the type of people looking for real estate in Cape Verde at present, it has been claimed.

Adrian Lillywhite, managing director of Cape Verde Property, explained that buyers fall into two distinct categories - those looking for a home as part of a lifestyle choice and those driven by investment potential.

He noted that each is looking for a very different kind of property and will therefore take varying factors into account.

Mr Lillywhite described a lifestyle buyer as someone who "wants a nice holiday home in the sun, either right on the beach or very close to it for their own use or occasional renting".

Meanwhile, he revealed that investors are unlikely to ever visit the real estate asset they purchase, stating that they "would be looking more at the all-inclusive hotel-style developments".

Either way, the islands of Cape Verde appear to have been attracting greater attention among those looking for a pad overseas of late.

Figures published by TheMoveChannel.com have shown that in August, the destination was the ninth most searched for location by those interested in buying a property abroad.

Sal 'a popular Cape Verde investment location'

Fri, 9 Sep 2011 00:00:00 GMT

Sal is proving to be one of the most popular islands among investors seeking a house in Cape Verde, a local expert has claimed.

Adrian Lillywhite, managing director of Cape Verde Property, stated that around 90 per cent of transactions are currently taking place on the isle.

He commented: "Sal is a great little cosmopolitan island, with about 15 nationalities living there. It has the main airport, beautiful beaches, lovely bars and restaurants and a chilled out atmosphere."

Mr Lillywhite also explained that the infrastructure on this island is developing rapidly and he highlighted the southern part of Sal in particular as offering "an excellent investment opportunity".

And potential investors may be encouraged by the International Monetary Fund's (IMF's) view of Cape Verde's economy.

In May, IMF representative Valerie Cerra visited the country to conduct a review of the policy support instrument that has been in place since November 2010.

She noted that the nation's economy is recovering "at a solid pace", while its public investment programme is likely to improve Cape Verde's long-term growth.

More Europeans snapping up Cape Verde property

Fri, 2 Sep 2011 00:00:00 GMT

An increasing number of European buyers have been seeking out properties in Cape Verde, particularly in Sal and Boa Vista, one local expert has observed.

Managing director of Cape Verde Property Adrian Lillywhite commented that investors from all over Europe are taking advantage of the distressed sales available.

"No doubt we have some excellent short-term bargains and distressed deals at present and we are finding investors being careful to find the very best deals," he noted.

Mr Lillywhite offered some advice to those looking for a home in Cape Verde, saying that buying a property as close to the sea as possible is important.

Investors should also do their research and make sure they ask for a full breakdown of the costs relating to maintenance if they are considering buying a unit that is part of a managed development, he added.

Sal is home to the country's main airport, while Boa Vista boasts a small airstrip for local flights.

Cape Verde property "will always be sought after"

Thu, 1 Sep 2011 00:00:00 GMT

There will always be demand for real estate in Cape Verde due to the lack of space available for new developments, one sector commentator has claimed.

Managing director of Cape Verde Property Adrian Lillywhite explained that there are many things that draw people to the nation, such as its climate, beaches and political and social stability.

As a result, he noted that "the good locations in Cape Verde will always be sought after".

Mr Lillywhite also revealed another reason that investors may be interested in purchasing a property in the nation - the cost.

"Prices are much lower than in comparable areas of the world, such as the Caribbean or the Canaries," he stated.

Meanwhile, its proximity to Europe and year-round sunshine means it is a good market for holiday rentals, with the climate in particular allowing owners to "maximise returns", Mr Lillywhite added.

The Cape Verde archipelago comprises of ten main islands, as well as five smaller islets.

Cape Verde experiencing mini tourism boom

Wed, 16 Jun 2010 00:00:00 GMT

The number of tourists visiting the Cape Verde islands has increased by over 23 per cent on a yearly basis, new figures have demonstrated.

According to Overseas Property Professional, the archipelago has been enjoying a significant increase in interest from foreigners in recent times and the boom looks set to continue.

Fontes Lima, a spokesperson for the government, explained that the total number of visitors could be set to top one million within the next ten years.

"The ministry of economy is pursuing a fast-track implementation programme for the infrastructure investments that will enable the islands to support and benefit from the rapidly rising tourist trade," she added.

This news is sure to interest real estate investors who have been considering buying property in the region, with the potential to rent homes to holidaymakers.

Earlier this year, property agency Noscasa suggested that confidence was returning to the property market in the region.

The estate agent claimed that it had been experiencing an increase in the number of people enquiring about property.

Cape Verde announces plans to expand port capabilities

Wed, 17 Feb 2010 00:00:00 GMT

Property investors in Cape Verde will be boosted by news that refurbishment and expansion work to its Porto Novo port is scheduled to start next May.

Macauhub reports that the expansion is set to be completed in two stages, the first of which includes extending the dock by 40 metres, building a new passenger terminal along with a car park and constructing other peripheral buildings.

Secondary plans have been outlined to widen the dock by a further 130 metres, to construct a road to link the port to the city of Porto Novo and introduce a fishing dock and numerous other lifestyle features.

The news is likely to be of interest to those with property in the archipelago as it should help to increase tourism numbers in the region.

Earlier this year, the Daily Mail, one of the UK's leading newspapers, said investors to the islands were reaping the rewards of their patience.

This was due to a 22 per cent rise in tourism compared with the previous year and new airports and ferry services likely to increase this figure further in the future.

Cape Verde 'aims to raise tourist numbers'

Wed, 6 Jan 2010 00:00:00 GMT

Cape Verde is aiming to raise tourism numbers in a move that could boost the holiday rental property sector.

Macauhub noted that local press reports on the archipelago revealed that the island's Tourism Strategy Plan aims to increase the annual flow of visitors to 500,000 a year by 2013.

The project has been approved by ministers and would boost tourism sector employment by as much as 60 per cent.

Government spokesperson Janira Hoppfer Almada stated that between 2000 and 2008 the tally of overseas holidaymakers in the islands rose by 11.4 per cent.

A further rise in numbers could increase demand for rental property for holidaymakers to let.

Last month, singer Sonia Jones told the Daily Mail she had enjoyed success from buying and letting a one-bedroom apartment on the island of Sal in 2003 for GBP40,000.

She explained: "The apartment has doubled in value and it has been rented out almost constantly through Noscasa estate agency."

British investors enjoy success in Cape Verde

Wed, 23 Dec 2009 00:00:00 GMT

UK buyers have been speaking about why investing in property in Cape Verde has been a successful undertaking.

Speaking to the Daily Mail, singer Sonia Jones revealed how she spent £40,000 on an apartment in Santa Maria on the island of Sal in 2003 and enjoyed the success she has had with it.

She remarked: "My daughter told me I was mad, but I wish I'd bought more.

"The apartment has doubled in value and it has been rented out almost constantly through Noscasa estate agency."

Ms Jones has gone on to buy a £94,000 property on Boa Vista with partner and songwriter Richard Darbyshire, with the couple living in this and renting out the apartment on Sal.

Director of Noscasa estate agency Paul Akwei said the tourism industry is growing thanks to factors such as new airports and the recent launch of an inter-island ferry service.

Cape Verde is also seeing its infrastructure develop with help from US government aid.

It is to be the sole recipient of continued Millennium Challenge Corporation funding, secretary of state Hillary Clinton revealed recently.

Maio Tip for Cape Verde investors

Tue, 24 Nov 2009 00:00:00 GMT

The island of Maio is emerging as the best place to buy homes in the Cape Verde archipelago, according to a property firm.

Noscasa said the location is offering "fantastic prospects", with managing director Paul Akwei stating that the domestic market is figuring prominently in investment there.

He remarked: "This is the island where wealthy Cape Verdeans are now looking to buy property because of its secluded beauty and close connections to [the] capital city [of] Praia."

Mr Akwei commented that investment is growing and that now is an "optimum time" to buy there.

The company pointed to the recent news that an inter-island ferry service is launching as a reason for optimism, since this could help boost tourism with cheaper links between different parts of the archipelago for visitors.

Last month, the International Monetary Fund noted that Cape Verde's economy has been recovering well from the global economic downturn, with property investment on the rise again.

Cape Verde 'ripe for investment'

Tue, 22 Sep 2009 00:00:00 GMT

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.

World Cup 2010 'to boost Cape Verde markets'

Thu, 9 Jul 2009 00:00:00 GMT

The property investment market in Cape Verde could receive a boost from reports that the 2010 World Cup will increase tourism to the islands.

According to the chairman of the national airline TACV, the international football event will attract more people to Cape Verde, as passengers use the carrier to travel from South American nations to South Africa, MacauHub reports.

Antonio Perteira Neves stated as he introduced the company's new representative Brazilian representative Jose Luis Sa Nogueira that a sharp rise in air traffic was likely, as Cape Verde is the closest African nation to South America.

TACV is planning to operate a flight schedule that will handle the increased passenger numbers anticipated during the World Cup in South Africa next year, having carried around 700,000 people during 2009.

Cape Verde is a group of ten islands previously used as a transit point for slave traders and then as a refuelling station for transatlantic ships, with an economy based on services, commerce and tourism.

Cape Verde infrastructure 'sees massive investment'

Tue, 30 Jun 2009 00:00:00 GMT

Cape Verde is seeing large-scale investment in its infrastructure - such as roads and ports - as part of a major public investment package aimed at boosting the economy, it has been stated.

The country's central bank has said that while it will not match the seven per cent growth seen in 2008, the "anti-cyclical policy based on strong public investment" will enable it to enjoy an expansion of between 4.7 and 5.7 per cent in its gross domestic product.

Such a move may help the property industry in the country, by making more areas accessible from nearby airports.

Last month property editor for overseas investor magazine BuyAssociation Paul Collins commented that "in terms of overseas property it tends to be that people like to buy within an hour's drive of an international airport".

He made his comments while noting how a new ring road on the island of Fogo is set to bring more properties and new development sites within this range.

Cape Verde gains world heritage site

Mon, 29 Jun 2009 00:00:00 GMT

Cape Verde's first capital city, Cidade Velha, has been awarded world heritage status by Unesco.

The decision to make the site the first location in the archipelago to hold such status was announced by the body today at its 33rd annual summit in Seville.

Unesco's decision acknowledged the historical significance of the site - which lies south of the modern capital Praia on Santiago island - for its colonial impact and significance in the history of slavery.

The announcement noted that "the town features some of the original street layout [and] impressive remains including two churches, a royal fortress and Pillory Square with its ornate 16th century marble pillar".

Property investors keen on the tourist rental market may be boosted by the news, which could help attract more visitors to the island.

Earlier this month sales executive at Cape Verde Property David Endersey said awarding the site world heritage status will help boost tourism and investment.

Cape Verde 'still a great place to buy'

Tue, 23 Jun 2009 00:00:00 GMT

Cape Verde remains a great place to invest in property, an expert has sated.

Commenting on the prospects for the country, sales executive at Cape Verde Property David Endersey said: "It is a great time to buy at the moment because developers and some people who have bought earlier are trying to encourage sales as soon as possible."

He added that the company is "confident" about the islands because they still have the attributes of weather, surf and beaches that they always had.

Other advantages include property being "reasonably priced" due to the development of the sector being at a quite early stage and the fact that the archipelago resembles the Caribbean without having a five-hour time difference when flying from Britain, as it is in the same time zone.

Earlier this month the Daily Mail identified Cape Verde as being among the countries offering plenty of bargains for property investors.

Infrastructure project completed in Cape Verde

Thu, 4 Jun 2009 00:00:00 GMT

A roadbuilding project in Cape Verde has been completed, providing a potential boost for the property market on Santiago Island.

The 10km road between the districts of Sao Lourenco dos Orgaos and Santa Cruz will open this coming Saturday (June 6th), having been funded by US government aid and constructed by a Portuguese company, Macauhub reports.

It is the first of several projects the Millennium Challenge Account Cape Verde is funding, with the body also announcing that it expects the Assomada-Rincao road to be finished next July and the Cruz Grande-Calhetona to be completed in December 2010.

The extension of road access may have a major beneficial impact on the investment property sector in countries such as Cape Verde, it has been stated.

Discussing a major new roadbuilding project on the island of Sal, property editor for BuyAssociation Paul Collins said last month: "In terms of overseas property it tends to be that people like to buy within an hour's drive of an international airport," noting that better roads mean this brings more areas within reach.

Cape Verde 'set for port boost'

Thu, 26 Mar 2009 00:00:00 GMT

One of the islands in the Cape Verde archipelago could be set for a major boost with news that the national ports management company Enapor is to start the public tendering process for a new port, something that will help cruise ships dock there.

Enapor told Cape Verdean news agency Inforpress that the process - which will see improvements being made to the port on Santo Antao - will begin "very soon", Macauhub reports.

The EUR20 million (£18.5 million) project to supply the port with a new access road, warehouse, administrative building and roll-on, roll-off facility will enable cruise liners to be able to dock there.

Such a move could help increase visitor numbers, which may benefit those investing in tourist property in Cape Verde.

Another development recently announced for Cape Verde is a project designed to link the islands with Portugal and west Africa in a new telecommunications cable project, which will provide new internet connections.

Portugal in Cape Verde investment pledge

Tue, 17 Mar 2009 00:00:00 GMT

Portugal will help finance new infrastructure development on Cape Verde, it has been announced.

The two governments have signed a memorandum that will include increasing the energy capacity of the archipelago through the creation of new wind farms and solar power facilities, Macauhub reports.

Under the plan, EUR100 million (GBP92 million) will be spent on this, while a further €22.3 million will see San Pedro airport on the island of Sao Vicente upgraded and a new airport built.

Another deal reported by the news provider is to involve more Portuguese funding being provided for road building.

Such developments may help improve the tourist infrastructure of Cape Verde, leading to increases in the value of property there.

Portugal has historic connections with the Cape Verde Islands, having discovered the islands in 1456 and controlled it as a colony until 1951.

The archipelago then held the status of an overseas province until it gained independence in 1975.

Cape Verde advances in freedom index

Tue, 20 Jan 2009 00:00:00 GMT

An index of economic freedom has stated that Cape Verde has improved its position since last year, news which may interest those thinking of investing in property there.

The 2009 Index of Economic Freedom, produced by thinktank the Heritage Foundation and the Wall Street Journal, has placed the country 77th overall with a score of 61.3, up 3.4 points on 2008.

An area of notable improvement that the report has identified is that of lower tariffs, while overseas investment and property have been singled out as particularly strong areas.

"Property rights are very well secured by the rule of law in comparison to the situation in neighbouring countries," the report stated.

Such a verdict may be particularly encouraging for those thinking of investing in Cape Verde.

The islands were recently described by Lonely Planet writer David Else as "the hidden Caribbean", with its hitherto unknown attractions being gradually discovered by Britons over the past decade.

Tourists attracted to 'different parts' of Cape Verde

Thu, 27 Nov 2008 00:00:00 GMT

The variety of holidays on offer in Cape Verde is attracting a number of different types of tourist to the archipelago, it has been suggested.

Ron Hughes, proprietor of Cape Verde Travel, noted that it is still in an "embryonic stage" for tourism.

But with the differing geography on the island he predicted that tourism would grow significantly, which may be a boost for those thinking of investing in property there.

According to Mr Hughes, Cape Verde's white, sandy beaches have "tremendous potential", while he added that "the ecotourism holidays - the mountain walks, the cultural life, the music, the history and so on" can be found elsewhere.

The government has set a target of attracting 500,000 tourists next year and with four new flights recently offsetting two that were cancelled, he stated that this is a realistic aim.

One Lonely Planet author recently described Cape Verde as the "hidden Caribbean".

'Optimism' over Cape Verde tourism target

Tue, 25 Nov 2008 00:00:00 GMT

The target set by Cape Verde's government for 500,000 tourists to visit the region in 2009 has been met with optimism by one travel expert.

Ron Hughes of Cape Verde Travel explained that although the travel market to the islands is currently "mixed" he believes the target can be met, noting that two extra flights to the islands have been added recently.

And he went on to say that the region is currently developing, having won recognition from the World Bank, which has provided funding for infrastructure improvements across many of the island ports.

"Tarmac has arrived in Cape Verde, but three years ago it wasn't there," he remarked, adding: "You can see that the islands are developing, they are moving forward."

Mr Hughes' comments follow the suggestion from a Lonely Planet author that the region has become the "hidden Caribbean" over recent years.

David Else also noted that the islands are becoming increasingly popular with Britons and tourists from other nations.

Cape Verde 'increasing in popularity'

Wed, 12 Nov 2008 00:00:00 GMT

Cape Verde has become increasing popular with Britons over the last decade and is now seen as the "hidden Caribbean", a Lonely Planet author has suggested.

Travel guide writer David Else noted that the islands are becoming popular with tourists due to the mix of cultures that exists in the area.

"[The islands] offer a mix of Portuguese, African and Brazilian style atmosphere," he explained, noting that "there isn't a massive time you can't go" because the area does not get excessively busy at one particular time of year.

Property investors considering a purchase in the area may wish to note that the average price for a two-bedroom property is - according to BuyAssociation's buying guide - CVE13,000,000 (GBP79,500).

Those looking for a three-bedroom villa in Cape Verde, which consists of ten islands and five inlets, can expect to pay CVE26,000,000 (GBP159,000).

BuyAssociation's data also showed property prices in the area increased by 20 per cent during 2006.

Tourism growth 'boosting Cape Verde property'

Thu, 6 Nov 2008 00:00:00 GMT

Cape Verde's property sector is still booming despite the credit crunch, it has been stated.

Although other locations are struggling, the archipelago off the west coast of Africa is seeing continued growth because tourist numbers keep rising, Cape Verde Property has stated.

Managing director of the firm Adrian Lillywhite said that many flights from the UK are full as visitor numbers continue to increase, adding: "This in turn is having a positive effect on the island's property market".

He stated that a new EUR2.2 billion (GBP1.78 billion) resort on the island of Boa Vista is proof that investors remain confident in the archipelago.

The firm noted that visitor numbers to the islands rose by 15 per cent between 2004 and 2007.

British visitors have a particular affinity with the islands, Rough Guide to West Africa author Richard Trillo has said.

He commented that this comes from the familiarity Britons have with Portuguese culture from holidaying in locations like the Algarve.

Cape Verde port expansion begins

Fri, 10 Oct 2008 00:00:00 GMT

In news that may interest those looking to invest in Cape Verde property, work is set to begin this weekend on the expansion of a major port in the country.

The development of Praia port will commence on Saturday October 11th, the port management company's chairman told newspaper A Semana, reports Macauhub.

Last month Macauhub reported that the expansion - funded by a EUR47 million (GBP37 million) loan from the European Development Bank - will enable the country to bring in construction materials faster, something that could boost the property industry.

In another move that could aid the industry's fortunes in the country, a new trade body representing the property sector has just been established.

Known as Promitur, the body is intended to improve communications between the sector and the Cape Verde government, Propertywire reported this week.

Managing director of Cape Verde property Adrian Lillywhite told the news provider: "The new industry body should help promote Cape Verde as an excellent destination for property investment and one that is closely regulated and therefore secure."

Cape Verde 'is a property goldmine'

Wed, 20 Aug 2008 00:00:00 GMT

Cape Verde has been flagged up as a potentially lucrative emerging property market.

According to Property Wire, the west African archipelago is currently benefiting from ongoing infrastructure improvements.

For example, a new international airport and ring road are now operating in the capital city Praia.

However, the website said Cape Verde has so far managed to avoid becoming overdeveloped, and remains a pleasant and unspoiled location.

This has prompted Property Wire to describe the country as a "goldmine" for investors, as it offers lifestyle attractions and a growing market.

The website commented: "Cape Verde is regarded by many analysts as a good example of how an emerging market can grow steadily without falling into over development traps."

Cape Verde was recently praised by a property expert for offering strong investment potential.

Jo Sinnott, who hosts Real Estate TV's Next Big Thing, told Property Wire that the country is an "ideal" location for foreign buyers to consider.

Cape Verde 'is an ideal investment market'

Mon, 11 Aug 2008 00:00:00 GMT

The Cape Verde islands have been praised by a property expert for offering strong investment potential.

Jo Sinnott, who hosts Real Estate TV's Next Big Thing, said the west African archipelago offers attractions such as year-round sunshine and easy access from Europe.

This, she continued, has led to the country trying to position itself as a top-end holiday destination.

Therefore, Ms Sinnott believes the market could be set to experience considerable growth over the next few years - a development which may be lucrative for foreign property owners.

Speaking to Property Wire, she commented: "I personally think [the islands] are ideal for a holiday and more specifically for investment."

Ms Sinnott added that it is "easy to see" why Cape Verde is being marketed as "Europe's Caribbean".

According to property experts NuBricks.com, the west African nation has become an "overseas property hotspot" in recent years.

Emerging markets 'promoted by property exhibitions'

Sat, 2 Aug 2008 00:00:00 GMT

Live property exhibitions have helped to fuel interest in emerging markets among UK-based property buyers, according to an expert.

Darren Styles, chief executive of A Place in the Sun Live, stated that less-established locations across the world have been heavily promoted at live events.

As a result, more and more people have become aware of the potential they offer, triggering additional interest in the market.

Mr Styles highlighted Cape Verde as an example of one country which has benefited from this development.

Indeed, the west African archipelago was recently as the tenth-most popular investment market among Britons by A Place in the Sun magazine.

Mr Styles commented: "We've broken whole new destinations - Cape Verde, for instance - and delivered a broad, multi-layered exhibition that has brought in thousands of new buyers from the mass market."

He added that the A Place in the Sun brand has "championed" the virtues of foreign property ownership to a very wide audience.

Cape Verde tipped for more growth

Thu, 17 Jul 2008 00:00:00 GMT

Cape Verde is set to see more property market growth as a result of its World Trade Association (WTO) membership and the increasing number of direct flights, it has been suggested...

Cape Verde property market and infrastructure to benefit from joining the WTO

Tue, 15 Jul 2008 00:00:00 GMT

Cape Verde's property market is set to benefit when the country becomes a member of the World Trade Organisation (WTO). Cape Verde will join the WTO later this month, which is expected to lead to further growth in the property sector.

Cape Verde will join the WTO on July 23rd. Pascal Lamy, director-general of the WTO, said of the accession: "WTO membership will enable Cape Verde to participate more fully in the global economy and will provide the country with a predictable and stable basis for growth and development."

The boost to Cape Verde's economy will in turn benefit the property market, according to John Farrelly of London International Property: "I think this can only help....There are a lot of opportunities for investors and that's why a lot of people have got in quite early."

Investment is already being made in Cape Verde's infrastructure; the port of Praia is to be modernised and expanded, according to the Millennium Challenge Account - Cape Verde Management Unit (MCA-CV). The project will be only the second country in the world to benefit from US-based MCA funding, according to news agency Macahub. In total, Cape Verde has been granted $110m for infrastructure projects, and work is to begin on the port next October.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Cape Verde to join WTO

Thu, 3 Jul 2008 00:00:00 GMT

Cape Verde will become a full member of the World Trade Organisation later this month, it has been confirmed.

The west African archipelago will become the 153rd member of the body now that it has met its various entry requirements.

According to NuBricks.com, this could potentially be good news for overseas property investors who own a residence in the country.

Chintan Mahida, property editor at the site, commented: "The Cape Verde government has demonstrated its ability to bring its trade and economic policies up to standard."

She described the move as "yet another feather" in the country's cap which could help reinforce its investment credentials.

According to the Organisation of Economic Cooperation and Development, Cape Verde's economy grew by 6.6 per cent last year.

Figures cited by MacauHub show that it is expecting this rate of growth to increase to 7.6 per cent in 2008.

Cape Verde 'worth considering now'

Wed, 11 Jun 2008 00:00:00 GMT

The archipelago of Cape Verde is becoming an increasingly attractive investment option, a market expert has claimed.

Cape Verde's government has worked hard to make the country more accessible for the international community, with enough success for it to be held up as a model for other emerging nations, according to ShelterOffshore.

Those thinking of buying property in Cape Verde may be encouraged to learn that there are currently plans to increase the number of airports and that property can cost as little as €1,200 (£950) per sq metre.

Rhiannon Davies, director of ShelterOffshore, said: "Now is a good time to consider investment if you like the thought of entering an emerging market and having access to the potential profits and returns it may offer."

Around half the population of Cape Verde lives on the island of Santiago, yet the biggest tourist island is Sal which currently boasts the only international airport.

Cape Verde offers diversity to investors

Mon, 31 Mar 2008 00:00:00 GMT

Foreign property buyers have been told of the diverse range of attractions that can be found in the Cape Verde islands.

The west African archipelago was praised by the Irish Independent for offering features such as beautiful beaches, clear blue water and year-round sunshine.

However, the country was said to offer more than physical attractions, as it also has a growing and potentially lucrative property investment market.

According to the newspaper, the consistently good weather makes property in Cape Verde a better option than places such as Bulgaria and Croatia, as it has a longer holiday season.

Therefore, there is demand for rental property over a greater period of time.

The newspaper commented: "Unlike some of the emerging markets in Eastern Europe, Cape Verde's climate virtually guarantees investors an all-year-round return."

According to Sarah Brown from NuBricks.com, accessibility improvements have led to the country attracting a record number of foreign visitors.

British couple extol the virtues of Cape Verde

Tue, 18 Mar 2008 00:00:00 GMT

A couple from Bognor Regis in West Sussex have highlighted why Cape Verde is an ideal place to make a property investment.

Dave and Trisha Hunter have bought a property on Sal island and believe their purchase will make them money in a short space of time, reports the Sun.

Indeed, having added to their property portfolio recently, they are certain that they would have already made a profit if they were to sell now. Accessibility from the UK, a hot climate and the islands' ability to host major events such as the windsurfing world cup all highlight its credentials as an investment location.

Mr Hunter told the newspaper: "In four or five years property prices are going to double or even treble and if you want it as an investment then this is the place to be."

He added that they have a quieter spot worked out when more tourists decide to purchase property in Cape Verde. In fact, it was on a holiday to the islands - located just off the coast of West Africa - that the couple made the decision to relocate there permanently themselves.

African countries offer strong returns

Fri, 7 Mar 2008 00:00:00 GMT

Prospective investors in overseas property have been told that African countries could be highly lucrative.

Writing in the Times, Paula Hawkins recommended that people who want to collect strong returns on their investment should look outside Europe.

She said the rates of house price inflation in countries such as Cape Verde and Morocco are relatively high when compared with many short-haul locations.

Therefore, a property in the country is able to appreciate in value in a much shorter space of time.

This has proved to be tempting to many investors in recent years, as it means they can possibly sell their property on at a profit at some point in the future.

Ms Hawkins said this was a much better option for buyers of investment property than traditional markets in western Europe, such as France or Spain.

She remarked: "Investors tend to opt for popular holiday destinations rather than countries which offer the greatest opportunities for capital growth."

Earlier this week, the Association of International Property Professionals revealed that the number of overseas property transactions went up by 21 per cent to 240,000 last year.

Cape Verde offers stable economy

Mon, 3 Mar 2008 00:00:00 GMT

Cape Verde's economic stability could help make it a good place for overseas property investors to consider, an expert has suggested.

Simon Conn, sales and marketing director at Conti Financial Services, told the Independent that the status of the country's economy made it a "good bet" for foreign buyers.

Speaking to the newspaper, he added that its favourable performance was underpinned by its political stability.

This means that any investment in Cape Verde is likely to be much safer and more secure than in some other emerging property markets.

Mr Conn went on to praise other positive attributes of the country, such as its good weather.

He stated that year-round temperatures were - on average - more than three degrees warmer than those in Spain's Canary Islands.

This comes after the country was highlighted by TUI Travel as a particularly popular destination with British leisure travellers this year.

Cape Verde's competitiveness 'to be increased'

Wed, 27 Feb 2008 00:00:00 GMT

Cape Verde's competitiveness could be in for a boost following the launch of a new scheme, which may interest those considering overseas property investment in the country.

Macauhub reports that the United Nations Industrial Development Program has established the Quality for West Africa programme in order to integrate Cape Verde into the world economy.

Those considering an investment in the country may be aware that it joined the World Trade Organisation recently. The BBC also indicates that the nation's tourism continues to grow.

Jose Brito, Cape Verde's minister for the economy, growth and competition, said: "There is a tendency these days, to standardise products in terms of quality and for Cape Verde to win that battle of competitiveness and be able to export, we have to meet those standards."

Lonely Planet describes Cape Verde as having "pleasant" weather throughout the year, which may prove to be an attraction for people looking to invest in property outside of the UK.

Cape Verde Investors to Benefit from Growing Economy

Wed, 30 Jan 2008 00:00:00 GMT

The investment potential of Cape Verde is set to be boosted by further economic growth, according to experts.

Estimates from the International Monetary Fund (IMF) suggest that the country's gross domestic product will go up by 7.7 per cent this year, reports MacauHub.

The organisation has already estimated that the overall figure for 2007 will come to 6.9 per cent, which means the speed of economic growth in Cape Verde could be set to increase.

This could potentially enhance the appeal of the west African archipelago among overseas property buyers, as it is a sign of an expanding and thriving market.

Cape Verde has already become popular in recent years because of its many natural attractions, such as its attractive scenery, beaches and consistently good weather.

Earlier this month, Cape Verde was praised by Paul Collins of the BuyAssociation website for offering both a growing housing market and tourist sector.

He said this made the country an ideal place in which to invest in property.

Investors 'Find It Easier To Get A Cape Verde Mortgage'

Tue, 15 Jan 2008 00:00:00 GMT

Recent changes have made buying property in Cape Verde easier. They have changed their buying system to make it easier to get a mortgage in the country, an expert has stated.

Catherine Hearnden, director of MyMortgageDirect, stated that since it is a "young market", it has only a limited selection of products available.

However, she said Cape Verde is now changing and offering more good deals to investment property buyers, including investors from overseas.

Ms Hearnden commented: "They're starting to make refinements, more in line with what we'd expect."

She added that this has been largely due to the influence of more and more people moving in, as it has created strong demand for good mortgage deals.

In addition, she said that financial providers were now required to move at a similar pace to property developers.

Earlier this month, Cape Verde was praised by Paul Collins of BuyAssociation for offering both a growing housing market and tourist sector.

He said this made the country an ideal place in which to invest in property.

Cape Verde 'offers strong returns on investment'

Fri, 4 Jan 2008 00:00:00 GMT

Owners of holiday accommodation in Cape Verde are likely to get strong returns on their investment, according to an expert.

Paul Collins from the BuyAssociation website stated that the country's tourist trade was expanding and set to keep getting bigger.

This has prompted him to declare that it will be one of the best places for overseas property investors this year, as its popularity is boosting house prices.

Therefore, the future sale price of a residence could be considerably higher than the amount it was originally purchased for.

Mr Collins said: "Cape Verde's property market has seen some impressive growth over recent years."

He added that the country had a wide variety of leisure attractions, such as sporting facilities and good beaches.

Cape Verde was recently opened up to British consumers with the introduction of direct flights from London.

In October last year, TACV began offering services between capital city Praia and Stansted Airport.

Britons 'drawn to Cape Verde'

Mon, 24 Dec 2007 00:00:00 GMT

Cape Verde is becoming a highly popular location among British investors, a media report has stated.

According to the Telegraph, the introduction of direct flights to the country has contributed to a surge in the amount of interest expressed by property buyers from the UK.

The newspaper said that authorities in Cape Verde had responded accordingly to the increased demand by developing new airports and launching direct flights to Britain.

This means that the west African archipelago has become significantly more accessible and affordable for foreign investments.

As a result of the strong demand for property in Cape Verde, the housing market has experienced considerable growth over the last year.

Figures cited by the Telegraph showed that house prices in the country have gone up by 20 per cent during the last 12 months, while a similar increase has been predicted for 2008.

Earlier this year, Cape Verde's national airline TACV began offering direct flights between Praia and London.

The carrier said the service was introduced in response to strong demand from British consumers, including second home buyers.

Property buyers 'should invest in Cape Verde'

Mon, 17 Dec 2007 00:00:00 GMT

Cape Verde could be a good option for overseas property buyers to consider, according to a British media outlet.

UK-based newspaper the Telegraph stated that the archipelago offered a number of attractive features for prospective buyers, such as its tropical environment.

Visitors to the islands were also said to be able to benefit from its "guaranteed" winter sun, thereby making it a good holiday destination all year round.

This would be particularly good for buy-to-let investors because the extended tourist season means the chances of getting strong rental returns would be enhanced.

The Telegraph went on to highlight the improved transport connections between the UK and Cape Verde, following the recent launch of direct flights to Santiago Island in October.

According to Cape Verde's national airline TACV, the service was introduced because there was strong demand from British consumers, including second home buyers.

Cape Verde 'a good place for investment'

Wed, 28 Nov 2007 00:00:00 GMT

British property investors who want to take advantage of "the next big thing" may be wise to explore opportunities in Cape Verde, it has been suggested.

Tim Foster, international mortgage adviser for Conti Financial Services, said that the property market in the former Portuguese colony is expected to "really take off" in the near future.

He said that "there is a lot of potential for capital growth" in the islands, explaining: "People are always looking for the next big thing and Cape Verde is certainly the name on everybody's lips."

The "potential for capital growth" in Cape Verde is currently high if you buy off-plan, Mr Foster suggested, adding that "now is a very good time to buy" and take advantage of such deals.

In October, Stansted Airport started operating flights to Cape Verde because of its growing appeal to tourists.

Cape Verde set for infrastructure improvements

Tue, 27 Nov 2007 00:00:00 GMT

Overseas property investors in Cape Verde are to benefit from infrastructure improvements across the country.

According to MacauHub, millions of pounds will be put towards upgrading the country's air hubs and creating new ports and roads in locations such as Santiago Island.

The work is being partly funded by the Portuguese government, which has allowed Cape Verde to repay the loan at what it described as a "favourable" rate of interest.

Many people will be likely to benefit from this investment, including locals and visitors from other countries.

In particular, the modern infrastructure will be likely to enhance Cape Verde's growing standing among overseas property buyers from countries such as the UK.

According the Observer, attractions such as its good climate have made the country an "irresistible" option for many British investors.

The newspaper added that the archipelago had also become popular in recent years due to accessibility improvements, such as the introduction of direct flights from Europe.

Cape Verde 'popular with foreign investors'

Tue, 20 Nov 2007 00:00:00 GMT

Overseas property investors are increasingly choosing to invest in the Cape Verde islands, according to experts.

Advice website BuyAssociation stated that the west African archipelago was becoming popular with people who were interested in new and emerging markets.

The country's good climate was highlighted as one of its major attractions, as the weather was similar to that in the Caribbean.

In addition, Cape Verde was said to be a good investment option because it was rapidly becoming more popular with international holidaymakers.

Paul Collins, overseas property editor at BuyAssocation, commented: "The area itself has opened up to tourists so there are now direct flight routes from the UK."

This follows the recent introduction of services between London's Stansted Airport and the country's capital Praia by Cape Verde's national airline TACV.

The airline said it decided to launch the flights in response to growing demand from tourists and second home owners.

Cape Verde official predicts tourism growth

Mon, 12 Nov 2007 00:00:00 GMT

The number of holidaymakers choosing to visit Cape Verde is set to increase significantly, an official has predicted.

Speaking at a press conference, Victor Fidalgo of Cabo Verde Investimentos stated that this year's total number of visitors could come to about 320,000.

Furthermore, he was quoted by Cabo Verde 24 as saying that in the next four to five years, this number could rise even higher.

Mr Fidalgo told journalists that the island was growing in popularity all over the world and had the potential to attract about 500,000 visitors a year by 2012.

If tourist numbers do increase in line with predictions, this would be likely to result in increased demand for holiday accommodation in Cape Verde.

Last month, the national airline TACV launched a direct flight between Santiago Island and Stansted Airport in the UK.

According to the carrier, the service was introduced in response to growing demand from tourists and second home owners.

Cape Verde market recommended to investors

Thu, 25 Oct 2007 00:00:00 GMT

Cape Verde could be a good location in which to purchase an overseas property, according a media report.

The Telegraph said that the group of islands had become a tourist hotspot, meaning that demand for holiday homes and rental accommodation is on the rise.

In addition, it stated that the archipelago, located off the west coast of Africa, was becoming more accessible, another factor that could boost its appeal to tourists and investors.

The Telegraph highlighted the journey time of five and a half hours, although it said that since the time difference from the UK was only one hour, which means that anyone flying to Cape Verde would not get jetlag.

Next week, national airline TACV is launching direct flights between Santiago Island and London's Stansted Airport.

Spokesperson Neil Silvester recently stated that the service was being introduced in response the growing popularity of the location among holidaymakers and overseas property buyers.