Cape Verde

Fuerteventura

Tenerife

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CAPE VERDE Property

cape verde information, information on cape verdeThe beautiful, unspoiled islands of Cape Verde provide a new and exciting investment opportunity for property buyers who wish to maximise both capital growth and rental yields. Excellent all year weather, political stability, easy access to Europe, warm clear seas, stunning scenery and beautiful white sandy beaches make this an opportunity not to be missed.

The Cape Verde Islands are located in the tropical region of the North Atlantic, some 1,100 miles south of the Canary Islands. Flight-times to Cape Verde are therefore comparatively short compared to other tropical island destinations such as the Caribbean, the Seychelles or the Maldives.

Cape Verde is an exciting new investment proposition for the off-shore property investor. The best way to describe the situation is probably to compare it to Spain 30 years ago. The development of these islands is beginning to gather pace and it therefore offers investors with a great opportunity.

Cape Verde gained independence from Portugal in 1975. Full democratic multi-party elections took place for the first time in 1990, so it is only in recent years that the development of these has started to happen.

The key date was 1993 when the parliament voted to allow foreigners to have full rights of property ownership. Since then various legislation has been passed giving substantial incentives to investors, developers and companies in a range of industries. Over the past few years Cape Verde has enjoyed significant investment in infrastructure and this has been the main reason for its emergence as an overseas destination.

The investment on the transport infrastructure in Cape Verde is probably the most crucial for the property investor. The capital city of Praia on the island of Santiago had a new international airport open on the 6 October 2005. A new international airport is under construction on the island of Boavista and there another planned for the island of St.Vincente.

Most of the property development in Cape Verde is happening near existing infrastructure. Real estate development so far has mainly been concentrated on the island of Sal and on the town of Santa Maria. This is the most developed of all the tourist destinations as it is the island that, until recently had the only international airport. It is developing very fast and land prices have seen amazing growth in recent years.

Boavista is now also beginning to move forward significantly. There is much development planned in and around Sal Rei and near the new international airport that is currently under construction. Maio is also starting to move forward but the supply of property is very limited so far. Santiago now boasts of a new airport. There are big plans for developments here.