Cape Verde has been among the more exciting emerging property markets for many people in recent years. Being the closest tropical islands to Europe is just one reason for its appeal and since the advent of direct flights.
The endless summer climate, Chrystal clear waters are just two favoured attraction. But it doesn’t stop there.
The archipelago has seen substantial economic development, with the country joining the World Trade Organisation last year. It also enjoys a stable democracy, with two main parties and peaceful changes of government taking place since free elections began in 1990.Throw into the mix their plan to join the EU and you have an incredibly attractive investment opportunity which seems to buck the tend of the worldwide economic slow down.
Presently, the concentration of tourism and properties is primarily focused on Sal, rather than Santiago, even though the latter is the largest island and includes the capital, Praia. But this may change as the ruins of the former capital – Cidade Velha – is on the candidate list to be added to those sites with Unesco world heritage status,. Founded in 1462, the city was the first European settlement on the islands and was inhabited until 1770, when it was abandoned in favour of Praia because it had proved too hard to defend against piracy.
Such a development may indeed bolster tourism on the island and with it the buy-to-let tourist property rental sector. A look at the list of places listed by Unesco shows that to elevate Cidade Velha to world heritage status will place it on a par with the Taj Mahal, Stonehenge, Sydney Opera House and the Great Wall of China. For investors in Cape Verde property, the decisions made at the Unesco meeting in progress now could be highly significant.
Please complete our form and one of our Investment Advisors will contact you to discuss your exact requirements:
Propertyzonedirect's Blog 