Buying off-plan property in Cape Verde is widely acknowledged as the next big thing in overseas property. Learn here why off-plan purchase in Cape Verde is such a beneficial option.
Off-plan villas, townhouses or apartments can be purchased as investment property in Cape Verde, offering beneficial payment schemes which are carefully vetted. In this way investors deal with the most reputable and secure development companies that operate in your favoured location on the Cape Verde islands. Payment schemes currently on offer allow you to buy property off-plan, ie. before or during construction when the price remains low, with average down payments of 30% that can often be spread over 18 to 24 months.
By the time the property is finished, prices rise due to market forces and the greater general appeal of a completely finished property that is ready to move into. Investors therefore sell the property on to another property purchaser and in doing so enjoy some excellent returns on investment whilst never having paid the full purchase price. Analysts are predicting a 70% rise in prices over the next 18 to 24 months for many off-plan properties in Cape Verde.
Investors should however exercise due diligence and choose wisely, making sure their off-plan property in Cape Verde is located in an area where they will resell quickly and easily or where there is a high rental demand for their buy-to-let option. With an off-plan investment, even in the worst case scenario if the property cannot be sold upon completion, the final balance due can often be financed by the developer himself. Furthermore, the rental income may pay off the finance of this loan and yield further eventual return on investment.
In order to limit financial risk and debts, the developers of any project will wish to sell units off-plan. They understand that if buyers cannot see a physical property at the beginning, they will demand a lower price, while relying purely on the developer’s reputation, the property location, artistic impressions and computer simulations on which to base their decision to purchase.
In addition to the excellent off-plan price, some highly beneficial finance structures are in place. You sometimes need to pay only around 20-40% of the purchase price in the form of a deposit, while the rest is payable upon completion. This may be financed by a mortgage if necessary.
Whether it is an off-plan villa, townhouse or apartment you decide upon in Cape Verde, you will need to build a strategy to adopt in order to achieve your return on investment. Our experts will help you to choose the most appropriate plan, creating an investment programme to suit your needs, whether this is "pure investment" "or buy-to-let " strategy. We will also assist you in finding the most appropriate location in Cape Verde to suit your investment needs.
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