Real Estate & Rental & Lettings News in Cape Verde from Propertyshowrooms.com

Cape Verde set for property market recovery

Wed, 7 Apr 2010 00:00:00 GMT

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.

Cape Verde set for golf tourism boost

Wed, 18 Nov 2009 00:00:00 GMT

Cape Verde is set for a new golf and property development that may help to expand the tourist rental sector in the archipelago.

European Golf Design (EGD) and the Golf Environment Organisation (GEO) have revealed that they are teaming up on a number of projects, in order to ensure that EGD is able to produce sustainable and eco-friendly new facilities in its projects.

One of these is a proposed extension to an existing Cape Verde complex.

GEO chief executive Jonathan Smith said: "We want to get involved in those golf developments that have the potential - and willingness - to deliver meaningful benefits to people and the planet."

Those keen on buying in Cape Verde may be interested in this undertaking, not least as the sustainable aspect may attract tourists keen on taking eco-friendly holidays.

Last month, it was noted that the islands could get a tourism boost from the launch of a new inter-island ferry service.

Chief executive of real estate firm Norcasa Paul Akwei predicted that by being cheaper than flying, it could open up the market to under-25s, who may enjoy sports such as surfing and hiking.

Sal 'next big destination' in Cape Verde

Thu, 13 Aug 2009 00:00:00 GMT

The island of Sal in the Cape Verde archipelago is set to become a major hotspot for Britons, it has been stated.

In a feature on the location, the Birmingham Mail stated that it and neighbouring Boavista are set to become the "next big holiday destinations for Europeans because of their spectacular beaches and climate".

Such qualities may appeal to those keen to buy Cape Verde property, along with the ease of accessibility from Britain, which is in the same time zone.

The paper noted that Sal Airport can be reached in six and a half hours from Birmingham, while a studio apartment can be bought for as little as EUR40,000 (GBP34,000).

Earlier this year, property editor for BuyAssociation Paul Collins said major infrastructure projects such as new roads can help boost property values in countries like Cape Verde.

He said a key factor was for homes to be within one hour's reach of an international airport.

Best of Cape Verde listed

Fri, 26 Jun 2009 00:00:00 GMT

The best parts of Cape Verde have been named by a tour guide, who has listed some of the features that may appeal to those seeking to buy property there.

Resort rep for operator Cape Verde Experience Edgar Pires said that Boavista Island has the best beaches in the archipelago.

He went on to name Sao Vicente as the best cultural centre, while this aspect was also well represented by the markets on Santiago, which also includes the former national capital Cidade Velha.

Those keen on buy-to-let investment in Cape Verde may consider tailoring the sort of purchases they make to these factors, such as buying beachfront properties on Boavista.

Mr Pires said Praia de Santa Monica was the best beach on the island and in the whole country.

Cidade Velha is Cape Verde's first candidate for Unesco world heritage status, with the body deciding what sites to add to its list at a meeting currently taking place.

Cape Verde property tipped for infrastructure boost

Tue, 19 May 2009 00:00:00 GMT

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.

New air service for Cape Verde

Fri, 8 May 2009 00:00:00 GMT

A new air service is being launched to Cape Verde, something that may help boost tourist property in the archipelago.

The French carrier XL Airways has revealed it is to start a new service from Paris to the island of Sal in October, initially running every Friday until April 30th, Macauhub reports.

Chairman of the airline Laurent Magnin said: "Cape Verde is a winter adventure, to start off with, that we are going to try to extend to the rest of the year."

The advent of the new route could offer Britons hopping across the channel another way to get to the islands, while possibly boosting tourist rental property in Cape Verde by raising the number of French visitors.

Another boost for Cape Verde has been the recent news that it will be joined to the new West Africa Cable System, which will provide enhanced communications including faster internet access, something tourists and investors may enjoy.

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 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.

New flights draw visitors to Cape Verde

Wed, 12 Mar 2008 00:00:00 GMT

More and more people are choosing to visit Cape Verde due to the introduction of direct flights, an expert has said.

Sarah Brown from NuBricks.com said the country is currently attracting a record number of foreign visitors as it is now more easily accessible.

She stated that this has resulted in the creation of extra leisure facilities and amenities, such as supermarkets, bars and recreational outlets.

In addition, she said property in Cape Verde has also benefited from investment in various infrastructure improvements across the country.

This means the archipelago now offers the living standards and convenience demanded by foreign visitors.

As a result, it has become a popular choice for overseas property investors and second home buyers from abroad.

Ms Brown remarked: "Cape Verde has become something of a magnet for property investors."

According to the Office for National Statistics, about 848,000 people from the UK currently own a second home abroad.

Cape Verde attracts European visitors

Mon, 7 Jan 2008 00:00:00 GMT

Cape Verde is proving to be a highly popular holiday destination among Europeans, according to new figures.

Official data reported by A Semana revealed that 87.7 per cent of people who stayed in rental accommodation during the first six months of 2007 came from abroad.

Many of these were found to be from European locations, with almost one in five visitors hailing from Portugal.

Figures also showed that a significant proportion of holidaymakers in Cape Verde came from Italy, as well as Britain and Germany.

Furthermore, the data indicated that the overall number of visitors to the islands was higher than during the previous year.

This means that demand for rental accommodation in Cape Verde is increasing, therefore creating a range of new opportunities for overseas property investors.

The archipelago's investment potential was recently highlighted by the BuyAssociation website, which said the growth in its tourist sector over the last few years had been "impressive".

'A range of developments in Cape Verde'

Fri, 23 Nov 2007 00:00:00 GMT

There are a broad range of different types of property developments coming to the market in Cape Verde, it has been claimed.

Paul Collins, overseas property editor for BuyAssociation, said that buildings "can differ" between the islands.

"There is a range of stuff going up and most are purpose built developments," he remarked.

Investors will be able to invest in beach resorts and golf developments, as well as properties aimed at the eco-tourism market, Mr Collins stated.

According to the expert, people are likely to become more concerned about their carbon footprints and look to invest in properties that "look after the environment".

Commenting on the Cape Verde market earlier in the year, Mr Collins said that last summer was the first season where direct flights from the UK to the islands were available.

Anyone considering purchasing a property there is expected to "benefit" as the number of visitors to the regions increases over the next few years.

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.

Cape Verde 'offers massive rental returns'

Wed, 26 Sep 2007 00:00:00 GMT

Overseas property owners in Cape Verde could get "massive" rental returns on their investment, according to experts.

GEM Estates said that since the island has warm weather for 12 months of the year, investors could potentially let out their properties for longer than they would be able to in other emerging markets.

Carley Todd, spokesperson for the firm, commented: "Cape Verde is on average 25 degrees all year round so max rental returns will be achieved."

She also said that whereas rental figures in most emerging markets were based on estimates of 25 weeks per year, investors in Cape Verde could realistically expect up to 40 weeks of rental income.

Ms Todd added that the islands had three international airports, allowing easy access for holidaymakers from Britain.

This comes after World Investment Services said that buying property in Cape Verde could be highly lucrative.

Cape Verde "to make big impact"

Wed, 27 Jun 2007 00:00:00 GMT

Cape Verde is set to make a "big impact" on the global property market according to a new report.

Assetz claimed that new mortgages are likely to create a number of opportunities for investors, while property prices are currently affordable, yet demonstrated 11 per cent growth last year.

Additionally, new routes to the region operated by low-cost airlines are expected to boost the local tourism trade, which may be of benefit to those considering purchasing an investment property abroad.

Stuart Law, managing director of the firm, said: "Cape Verde is looking like a very interesting prospect, as tourism levels soar and the introduction of mortgages opens the floodgates to investors."

However, investors ought to ensure that there is strong demand within the rental sector and take a long-term view of their investment, he added.

Earlier in the month, HiFX announced that it intended to extend its range of insurance products to include Cape Verde due to growing demand from investors.

Cape Verde investors 'enjoying large returns'

Wed, 11 Apr 2007 00:00:00 GMT

One of the main reasons to buy property in Cape Verde is the potential for large capital returns, according to escapes2.com.

The overseas property website said that capital growth on the islands is running at 15 per cent, while rental opportunities are as strong as they are on the Canary Islands.

Furthermore, there has been a large growth in foreign property investment on Cape Verde, with Sal and Boavista the hotspots.

Paul McMullen, spokesperson for escapes2.com, said: "A lot of people are just beginning to hear about Cape Verde and its press coverage is increasing all the time.

"At the moment interest in Cape Verde has been greater than in Spain."

Cape Verde was recently described as investment hotspot by popular British tabloid the Sun.

The newspaper highlighted a number of countries where Brits can buy a property for under £100,000, safe in the knowledge that their investment should rise "dramatically" in value.

A strong Pound makes this an Ideal time to invest...

Wed, 17 Jan 2007 00:00:00 GMT

British citizens emigrating abroad could collectively be losing hundreds of millions per year through poor exchange rates and over inflated bank charges. The British Pound is currently very strong against the Euro at €1.51 to £1.00 on 15th January, making now THE ideal time to invest abroad….

Watch Those Exchange Rates!

Please don’t forget that exchange rate volatility plays a key role in your Sterling transfer when purchasing large amounts of currency for your property investment abroad. It is not uncommon for currencies to fluctuate by as much as 10% over relatively short periods of time so it is important to monitor exchange rates and secure your rate in advance to protect yourself from losing vast sums of money on the day of your transaction.

However, many overseas property buyers overlook the importance of securing a good rate of exchange, while using reliable foreign exchange dealers such as MoneyCorp will literally save them thousands on the day of their transaction, from the transfer of an initial reservation fee, right up to the final payment on your property. For example, today, 15th January 2007, Sterling was strong against the Euro at €1.51 to the pound, while less than two weeks ago it stood at a mere €1.42 to the pound. By arranging their funds today, wise investors have secured this favourable rate of exchange, which can even be fixed for a period of up to two years, allowing them time for the payment of off-plan investments if necessary.

An average UK family moving abroad with assets of £250,000 could loose up to £10,000 of their funds simply by transferring their money abroad on the wrong day because they didn’t pay careful attention to their rate of exchange. Without a doubt, this represents a huge loss which could be avoided simply by being aware of professional money exchange brokers, such as MoneyCorp, who will secure you the best rates.

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Cape Verde Minister visiting key Eu countries

Tue, 13 Dec 2005 10:44:00 GMT

Cape Verde's Prime Minister José Maria Neves, who is currently visiting a number of European countries . The issue of a special partnership between Praia and the European Union (EU) will be the main item on the Prime Minister's agenda. Cape Verde and its European Union allies plan to hold a meeting in the first trimester of 2006 to discuss relations between the archipelago and the community. This is one of the results of the visit Prime Minister José Maria Neves is making to Luxembourg, where he arrived Monday after spending the weekend in Portugal. The meeting in question, 'A Semana Online' has learned, will take place during the first trimester of 2006 in Luxembourg following legislative elections in Cape Verde. In addition to Luxembourg and Cape Verde, the meeting will be attended by the representatives of the governments of Portugal, Spain, France and possible other countries. Luxembourg's Prime Minister Jean-Claude Juncker, one of the "godfathers" of the tightening of ties between Cape Verde and the EU, received José Maria Neves yesterday. Cape Verde has also received strong back-up from its former colonial power, Portugal, regarding the Praia government's ambitious plan to get a special partnership with the EU. PM Neves has even spoken of the final goal being full EU membership. During their meeting in Luxembourg, the two Prime Ministers also agreed that PM Juncker would visit Cape Verde for the second time in three years immediately following the 22 January legislative elections in the archipelago. Luxembourg is one of Cape Verde's major donor countries. In addition to political contacts with Luxembourg's authorities, José Maria Neves has also scheduled meetings with representatives and organisations working for the integration of the country's sizable Cape Verdean community. These organisations include the Spencer Committee, the Scouts and other youth associations working in the realm of violence and drug prevention. Tomorrow and Thursday, Mr Neves will be in Italy. On Friday he will continue on to France, and on Sunday will arrive in the Netherlands. The Prime Minister is scheduled to return to Cape Verde on Monday, 21 November.