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

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.

Tourism 'helping Cape Verde property industry expand'

Fri, 18 Nov 2011 00:00:00 GMT

The growth in tourism in Cape Verde has helped the country's real estate sector grow, it has been asserted.

Writing for the Telegraph, Saundra Satterlee described the island of Sal as the "property hub" of the archipelago, which consists of ten isles.

She noted that much work is being done to improve the infrastructure on the islands, while there are several high-class developments where investors can purchase a property in Cape Verde.

There are many reasons why investors may feel comfortable investing in real estate assets here, not least that its rules relating to such transactions are based on the Portuguese model and are more comprehensive than the regulations in other countries in the region, Ms Satterlee explained.

Other factors that may appeal to those keen to invest in overseas property include its political stability and low inflation, she added.

Last month, the World Bank and International Finance Corporation Doing Business 2012 survey highlighted the nation's efforts to improve the property registration process.

According to the research, it takes an average of 31 days to complete the procedure in Cape Verde and the country is ranked 61st out of 183 locations for this particular metric.

Cape Verde 'improves property registration process'

Tue, 25 Oct 2011 00:00:00 GMT

People buying a property in Cape Verde are likely to discover that the process has become easier over the past 12 months.

According to the Doing Business 2012 survey published by the World Bank and International Finance Corporation, the country has made improvements to its real estate registration procedures.

The nation has introduced time limits for the land registry and notaries in a bid to speed the process up and prevent unnecessary delays, the research showed.

Cape Verde is now ranked 61st out of 183 nations when it comes to registering property, with the average amount of time it takes to carry out the procedure now 31 days.

Meanwhile, it costs approximately 3.9 per cent of the real estate asset's value to officially register it with the relevant authorities, the study noted.

A survey published earlier this month by Owners Direct revealed that the number of enquiries from Brits looking for homes to rent in Cape Verde this Christmas has increased substantially.

The organisation has experienced a 70 per cent rise in the number of queries so far this year about visiting the islands for the festive season compared to the same time in 2010.

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 proving popular with tourists

Tue, 10 Aug 2010 00:00:00 GMT

Passenger traffic at Cape Verde's airports rose 5.6 per cent year-on-year in the first half of 2010, according to latest figures, which could be of interest to people considering investment property in the nation.

The statistics, which were detailed in the Semana newspaper, highlighted that a total of 726,279 passengers travelled through the nation's airports over the six-month period.

In particular, Sal airport attracted the most passengers, with 254,674 people travelling via it, including 154,431 international passengers, reports the Macau Hub.

The UK shared the second highest amount of traffic with Cape Verde, with 54,545 passengers travelling between the nations, marking a year-on-year rise of 40.3 per cent.

Last month, the Global Property Guide reported that buyer confidence is rising in Cape Verde, with real estate agents reporting increased activity and interest among international property investors.

In particular, the country is appealing to European buyers due to its accessibility and investor-friendly policies.

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 set to be popular among low-budget investors

Thu, 27 May 2010 00:00:00 GMT

Cape Verde could once again be a popular destination for British investors, Property Abroad has suggested.

According to the real estate portal, an increasing number of low-budget, holiday home buyers have begun to return to the archipelago - which lies off the west coast of Africa.

The destination is gaining in popularity once again because of an increase in interest from buyers looking to find bargain properties in markets that had previously been out of reach.

"Cape Verde property is set to benefit from a resurgence of low-budget buyers, as people re-explore their choices in reflection of the new market reality," the news provider explained.

"Anyone who has the cash ready to buy immediately can get a swift bargain with a clever offer."

Paul Akwei, managing director of property agent Noscasa, recently claimed that the Cape Verde property market is set to benefit from a return of investor confidence.

He said 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.

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 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 'prospers' in the current economic climate

Mon, 18 Jan 2010 00:00:00 GMT

Investing in Cape Verde is "wise" in the current economic climate, it has been claimed.

According to the Daily Mail, one of the UK's leading newspapers, investors who recognised the potential of the archipelago a few years ago are now enjoying the benefits of the island's rising popularity.

The paper reported that Cape Verde has seen a 22 per cent rise in tourism compared with the previous year, with new airports and ferry services likely to increase this figure further in the future.

Paul Akwei, director of Noscasa estate agency, said in an interview with the news provider: "The recession came at the right time to save Cape Verde from being ruined."

"Some developments were shelved, but the better ones went ahead and the government has continued to invest in infrastructure to help the islands through the downturn."

It was revealed last month that Cape Verde was to be the sole nation to benefit from funding by the American government.

Good governance, economic development and human rights were given as the reasons for the boost.

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."

Cape Verde airport re-opens

Fri, 1 Jan 2010 00:00:00 GMT

An airport in Cape Verde has re-opened, something that could boost property investment in the buy-to-let holiday sector there.

San Pedro Airport on the island of Sao Vicente is taking flights again after a three-year, USD40 million (GBP24.7 million) refurbishment project, Macauhub reports.

As a result, the islands now have four international airports and the capacity of San Pedro is substantially larger than it was before.

The runway can now accommodate aircraft such as Boeing 737s and 757s, as well as Airbus A310s, A319s and A321s.

Its terminal is also able to handle 500 passengers per hour and covers 11,000 sq m across three floors.

Those keen on investing in Cape Verde holiday property may also be encouraged by a recent Daily Telegraph feature on the best 'alternative' places to go for a winter break.

It said the archipelago "appeals to windsurfers, walkers and music-lovers", recommending that people try island-hopping to enjoy a variety of landscapes.

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.

Cape Verde in new tourism boost

Tue, 15 Dec 2009 00:00:00 GMT

A new luxury hotel has opened in the Cape Verde islands, which could indicate that the tourism market in the archipelago is set to continue growing.

Iberostar has launched the Club Boa Vista by Areja de Chaves beach on Boavista Island, a four-star residence with 273 rooms.

While the new venue may be an indication that the top end of the market is set to continue growing, those investing in holiday property on a buy-to-let basis could help similar expansion occur in other segments.

The country might be helped in this development by continued aid from the US.

It has been revealed by the American government that Cape Verde is the sole nation to be a recipient of funding under the second Millennium Challenge Corporation compact.

The reasons given were that the country has a strong record on areas such as good governance, economic development and human rights.

Secretary of State Hilary Clinton praised these developments in Cape Verde on a visit earlier this year.

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 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.

Cape Verde tipped for property boost

Thu, 29 Oct 2009 00:00:00 GMT

Cape Verde's property sector could see a major boost from the tourist industry thanks to the launch of a new inter-island ferry service.

Until now the one way to get swiftly from one island to another in the archipelago has been by air and chief executive of real estate firm Norcasa Paul Akwei said the move could have a major impact.

He stated: "This is a huge opportunity for the prosperity of Cape Verde and for anyone with invested interests in the islands, such as property."

Mr Akwei said it would make travel cheaper and could open up the country more to the under-25s market, particularly as there are activities available like hiking, fishing and kite-surfing.

Cape Verde has already received one potential boost to its tourism earlier this year, when its first ever capital city was declared a UNESCO World Heritage site.

The title was given to Cidade Velha, which lies south of the current capital, Praia.

Cape Verde property recovery noted by IMF

Tue, 6 Oct 2009 00:00:00 GMT

A recovery in homebuilding has been noted by the International Monetary Fund (IMF), following a mission by the body to the country.

The IMF report following the recent visit to the archipelago said: "Foreign direct investment has stabilised and construction on several private investment projects has resumed."

It praised the policies of the country's government and said that it is showing solid signs of recovery from the effects of the world economic slowdown.

The nation has also been "weathering the global economic crisis from a position of strength", the IMF declared.

Such a situation may encourage those thinking of buying property in Cape Verde.

Last month, the country was praised as a good place to invest by sales director at investment consultancy Emerging Real Estate Robert Medd.

He stated that "now is a good time to buy" in the country, noting that it is possible to get a beachside property for around EUR104,000 (GBP95,000).

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.

Confidence tipped as central to property market

Wed, 16 Sep 2009 00:00:00 GMT

An improvement in confidence is being seen in the world property market and this is vital for it to recover, the editor of a property magazine has said.

Paul Collins of BuyAssociation said there are some signs of such sentiment emerging among UK investors and added this "hopefully will lead to more Brits feeling confident enough to buy overseas again and get back on the overseas property market."

Stimulus packages being put in place by various governments around the world have helped to bring about some of the recovery noted in the recent Knight Frank global house prices survey for the second quarter of 2009, he suggested.

One country that may interest buyers is Cape Verde, which property firm Assetz said has one of the largest undersupplies of property in the world as its tourism sector booms.

The company suggested that those investing there could make substantial medium to long-term gains.

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.

Cape Verde port expansion announced

Tue, 28 Jul 2009 00:00:00 GMT

Cape Verde's government has announced a major expansion programme for a port on one of its main islands, something that could boost the tourist property market there.

Minister for infrastructures, transport and telecommunications Manuel Inocencio said that the Porto da Palmeira on the island of Sal is to be expanded at a cost of EUR50 million (GBP43 million), with the initial phase costing EUR19 million, Macauhub reports.

Such an investment follows a similar programme at the port of Praia, the national capital, Mr Inocencio added, with other islands to follow as part of a 20-25 year development programme.

The project may help increase cruise traffic to Sal, boosting its holiday destination profile and thus benefiting those investing in tourist property there.

In the shorter term, the government of the archipelago is currently in negotiations with banks to gain extra support for the property development sector in the country, Afrol.com reports.

Cape Verde to build new airport

Fri, 17 Jul 2009 00:00:00 GMT

A new airport is being planned for Cape Verde, it has been announced, something that could boost tourist rental property in the country.

The country's government has revealed that the new facility is to be constructed on the island of Santo Antao, the first time an airport has been placed there, Macuahub reports.

Such a move could help open up a new sector in the Cape Verde tourism and property market.

Work on the airport - which will be constructed near the city of Porto Novo - is due to commence before the start of 2010.

The investment is part of a EUR300 million (GBP258 million) infrastructure project that will improve ports on several islands in the archipelago.

Those keen on investing in Cape Verde tourism property may have been interested in the recent awarding of Unesco world heritage status to the country's first ever capital of Cidede Velha.

The decision was commended by the country's prime minister Pedro Pires in an interview with the Pana news agency while on a visit to Paris this week, Afrique en Ligne reports.

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.

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.

Unesco heritage award 'would boost Cape Verde'

Tue, 23 Jun 2009 00:00:00 GMT

Cape Verde's property and tourism markets would be boosted by the award of Unesco world heritage status to a candidate site on the island of Santiago, it has been stated.

The country's first capital - Cidade Velha - is on the list of candidate sites to be considered by the United Nations body, Afrol.com reported earlier this month.

Commenting on the effect this would have on the island, sales executive at Cape Verde Property David Endersey said: "Anything like that will help. Anything like that if they get a Unesco thing, or a World Heritage centre, anything like that is bound to encourage tourism to a certain extent."

Such a development may embolden those interested in buy-to-let for tourist rental purposes.

The elevation of Cidade Velha - which is now an uninhabited ruin but was the capital from 1462 to 1770 - would put it on a par with sites on the Unesco list such as the Taj Mahal, Sydney Opera House and Stonehenge.

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.

New airline link to Cape Verde

Mon, 1 Jun 2009 00:00:00 GMT

A new air link to Cape Verde has been announced, something that may encourage those looking to invest in the islands.

This will see Air Portugal offering three flights a week from Lisbon to the new Sao Pedro airport near Mindelo in the island of Sao Vicente, Macauhub reports.

Luis Garcia, the airline's Cape Verde representative, told Portuguese news agency Lusa that the flights will start when the new airport - the fourth international hub in the archipelago - is able to take night-time flights, something that could happen as soon as August.

The move may help those keen on investing in Cape Verde, particularly if they wish to combine this with investing in Portugal as well.

A new major ring road project on the island of Fogo will boost that part of the Cape Verde property market, it was recently predicted.

Property editor for BuyAssociation Paul Collins said this would be because it would bring more places "within an hour's drive" of the nearest international airport, something investors prefer.

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.

Island of Sal 'the heart of Cape Verde property industry'

Tue, 12 May 2009 00:00:00 GMT

The Cape Verde property sector is being dominated by activity on the island of Sal, it has been stated.

Managing director of Cape Verde Property Adrian Lillywhite said that house sales have taken a dip since the start of the world recession, although tourism is still "emerging" with a six per cent rise in hotel bookings last year.

He suggested buyers need to look beyond the current situation, stating: "People who buy in Cape Verde now have to look at the medium-term view, maybe the five-year view, to be completely convinced that the island's future is really strong."

Mr Lillywhite predicted that the archipelago will have a bright future, while also noting that Sal is the island where most activity is concentrated and where two-thirds of the 150-strong British ex-pat community lives.

Those who might wish to fly to Cape Verde while also investing in France may be interested by news that a new service is to start later this year between Paris and Sal.

XL Airways will fly one plane every Friday from October 23rd, initially until April 30th 2010, Macauhub reports.

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.

Cape Verde economic strength hailed

Mon, 20 Apr 2009 00:00:00 GMT

The economic strength of Cape Verde has been hailed in a report out this week from the International Monetary Fund (IMF).

In an announcement in the capital Praia, the IMF said the state of the country's economy is a robust one that is standing up well to the challenges of the world downturn.

The body, which had just concluded a mission to the country, said: "Cape Verde's economic and policy performance remains strong and so far the impact of global shocks remain manageable thanks to sizable buffers built in recent years through prudent macroeconomic management."

It went on to back measures taken by the Cape Verdean government to stimulate the economy.

Such an endorsement may encourage those thinking of investing in Cape Verdean property.

Cape Verde's property market is linked to tourism, which new figures have suggested saw an increase in 2008.

The total of visitors making overnight hotel bookings in the archipelago was six per cent up on 2007 at 333,345, according to figures from the National Statistic Institute, Macauhub Reports.

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.

Cape Verde to get faster online link

Mon, 23 Mar 2009 00:00:00 GMT

Cape Verde is to get new telecommunications services that will enable it to enjoy faster internet connections, it has been revealed.

A EUR50 million (GBP34 million) collaboration between Portugal Telecom and Cape Verde Telecom will see an undersea cable established between Portugal and west Africa, with the archipelago being first in line to receive it, Macauhub reports.

The investment will provide the Cape Verde Islands with a faster internet connection from 2011, the news provider states, something that could help boost its economy and encourage those thinking of investing in property there.

Portugal's government recently agreed major investment deals with its Cape Verdean counterpart to boost the infrastructure of the islands, a separate Macauhub report stated.

This included a EUR100 million credit line for the development of renewable energy and EUR22.3 million for the upgrade of San Pedro airport on the island of Sao Vicente, plus a new airport.

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 'geared up to UK air travel'

Wed, 1 Oct 2008 00:00:00 GMT

The arrival of direct air access from the UK has been a key factor in helping to develop the property sector in Cape Verde, it has been stated.

Paul Collins, overseas editor of property investor magazine Buy Association, said this development has been "quite a big factor" in the emergence of the country's market.

He continued: "A lot of the early real estate investment was based around the idea of there being direct flights [from the UK] coming in."

Mr Collins also said Cape Verde was showing signs of being a maturing market where some buyers are now coming to buy property in which to live.

As well as the expansion of air travel, Cape Verde is now to push ahead with the expansion of a harbour to enable it to unload building materials for new construction at a quicker rate.

The development of Palmeira port on the island of Sal is being funded by a EUR47 million (GBP37 million) loan from the European Development Bank, Macauhub reports.

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 government reassures that land will still be sold to foreign investors

Tue, 19 Aug 2008 00:00:00 GMT

The Cape Verde government has clarified its position on land sales. It was rumoured that the government was going to ban the sale of land in Cape Verde to foreign investors, but this has been dismissed.

There had been speculation that the Cape Verde government was worried that too much foreign investment on the islands was damaging the environment and would as a result be banned, according to Property Wire. However, economy minister Fatima Fialho has clarified the situation.

"The policy of this government is to promote foreign investment and negotiations with each promoter will continue to be the same. Every time there is an investor proposal, either national or from overseas, it will be analysed," she said. Fialho did add that the government was committed to protecting the islands' environment.

Cape Verde has become "something of a property goldmine", according to the website. There has been much investment in the islands' infrastructure; a new international airport has been constructed as well as a ring road around the capital Praia. Further improvements are due to be made, including more roads linking resorts to the airport, which are expected to be completed in December.

The Cape Verde archipelago consists of 10 islands, 450km off the coast of West Africa and is popular with property investors due to its natural beauty; "rugged peaks, deep green valleys and banana plantations overlooking empty white beaches" all attract holiday home owners.

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