Tourism 'helping Cape Verde property industry expand'
By Danny Bance

Tourism 'helping Cape Verde property industry expand'

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.

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