Why invest in Cape Verde:
Cape Verde has been identified as the globe's next property hotspot - due to its benign climate, spectacular sandy beaches and the fact that it remains a secluded and unspoiled beauty, as-of-yet untouched by insensitive tourist development.
The archipelago's tourism industry is experiencing rapid growth however - with the number of visitors increasing by around 25 per cent every year over the last five years. Around 500,000 tourists are expected to visit the Cape Verde islands every year once all new airports and infrastructural improvements are complete.
Despite the archipelago's stunning white beaches - most of which come with dramatic mountain backdrops as standard - and perfect snorkeling areas, property prices are still relatively cheap. Careful development is taking place however; learning lessons from other established property markets such as the Costa do Sol and the Canary islands.
Foreign nationals hoping to purchase property in Cape Verde are not subject to any restrictions on purchase, with most developments quoted in either pounds or euros.
Currently the hotspot in Cape Verde is Sal island – with its beautiful white sand beaches, charming Santa Maria Village, international airport and impressive resorts. It currently receives 70% of Cape Verde’s tourists.New international airports are scheduled to open on three of Cape Verde's biggest airlines Santiago, San Vicente and Boa Vista - as the government prepares in advance of its anticipated boom in tourism.
· Yields on buy-to-let properties can apparently be as high as eight to nine per cent in some areas, according to reports.
· Capital appreciation stable at approx 17% for the last three years – and all predictions indicate this will continue.
· Beautiful beaches with year around sunshine
· Direct flights to Europe and the UK.
· 3.5hrs from Lisbon and 5.5hrs from Gatwick airport.
· Holiday hotspot - A recent survey carried out in the United Kingdom shows that Cape Verde stands at the top of the list of new tourist destinations chosen by the British to spend their holidays.
· Tax relatively low - capital gains tax 3%
· Large hotel brands looking to open in the future, such as Nicky Beach and The Hilton.
· Cape Verde is socially and politically stable with recommendations from the IMF and the World Bank
· As in all emerging markets, the best investment strategies for Cape Verde generally advise early investment to take advantage of substantial gains when the area becomes established and demand for property and rental accommodation increases.
· Due to the huge increase in tourism across Cape Verde, property will be high in demand. Already proving popular, with rooms that are fully booked for a considerable period.
· This is seen as a very positive sign of progress and a clear indication of things to come. In the very near future, when the supporting infrastructure is complete, the area is set to see significant economic growth.
