Cape Verde is the ideal location for an investment property. It is located in the central Atlantic ocean 350 miles off the coast of West Africa. Although it is very close to Africa, cool currents keep the temperature moderate.
It has stunningly beautiful scenery, some of the best beaches in the world, and enjoys consistently good sunny weather all year round with temperatures between 25 and 30 degrees centigrade, so there is no “low” season, or rainy or hurricane season.
It is one of the few holiday spots that are actually receiving an increasing number of visitors. According to the National Institute of Statistics of Cape Verde there has been a 115% increase in tourism since 2000. At the same time there are stringent building regulations which protect the island from over development. Buildings are low-rise with a maximum of two floors allowed.
The main airport is on the island of Sal – where the property development is taking place. Indeed 60% of the island’s tourist stay on Sal which has an average occupancy overall of 80%, thereby providing a sustainable source of rental income for property owners. There are flights to and from over 60 major cities around the world. Direct flights from the UK take just over 5 hours so there is no jetlag.
The culture is creole and is a blend of European and African. The local people have a reputation for being warm and friendly.
Cape Verde has a democratically elected government and social, religious, political and economic stability. Land value is increasing at a rate of 15% per annum so investors can benefit from strong capital growth as well as good rental income.
According to the IMF,
“Growth remains solid, inflation has returned to low levels, and domestic debt continues to decline”
There has been a great deal of foreign investment in Cape Verde, with $240 million dollars from the World Bank to improve infrastructure and utilities, on roads, healthcare, water and energy.
The agreeable climate, location, international investment and natural beauty of the islands make this a world class tourist destination.