London, UK (PRWEB) August 9, 2007
The latest Cape Verde government figures project a consistent year round tourism growth of 20% resulting in a very positive outlook for Cape Verde property investment and the islands economy.
Tourists are not only enticed by the white sandy beaches and tropical temperatures but also by the eclectic mix of European administration and a colourful West African culture. The country itself is politically stable, relatively crime free, efficient and technogically advanced. Cape Verde property investment offers a very unique and lucrative opportunity.
The Island's government certainly appreciates the rich cultural melting pot and as such, are ensuring that good, solid foundations within tourism and construction are encouraged. Many airlines, including charter flights, are now flying direct from the UK. This onset is expected to have a huge impact on Cape Verde property investment market which has already seen prices close to doubling within a space of a year.
"Cape Verde is looking like a very interesting prospect, as tourism levels soar and the introduction of mortgages opens the floodgates to investors, simultaneously mortgages are becoming increasingly competitive and lenders are requiring smaller deposits for property purchases. Consequently, investors are able to leverage their money more effectively, investing less, borrowing more and therefore as a result of gearing, benefiting from much higher overall returns on cash invested," commented Stuart Law, Assetz managing director.
Developers are building within government guidelines, which stipulate that the island does not become overrun with high rise apartment buildings. This strategy is enticing overseas property investors and other capital funds, which will aid the progression of the islands and bring the local economy a welcomed boost. Currently, away from the resorts, the Islands' infrastructure is being greatly improved by the renewed income from tourism and property development and thus improves the local people's standard of living.
The climate of Cape Verde means that year-round rental is possible and also appeals to a wide range of visitors, due to the diversity of the islands culture and landscape. Today's buyers are getting in right from the start, so they stand to benefit the most from the sharp increase in property values which are set to continue as the local infrastructure improves. Being part of Africa, Cape Verde property investment can offer a rare opportunity for the property investor to capture the medium to high disposable income market.