Cape Verde looks set to boom

Permalink: Cape Verde looks set to boom
by Kay Murchie

According to propertyshowrooms.com, Cape Verde is being tipped as the new Canary Islands for holidaymakers and property investors can look to achieve low prices in a market that is set to take off with the country’s beaches tempting holidaymakers from the UK. Cape Verde is a group of 10 islands off the coast of West Africa.

The government of Cape Verde is working enthusiastically to make it simpler for people to be a holiday home owner or a buy-to-let investor. There are no restrictions on overseas investors who wish to purchase property in Cape Verde. HiFX, the currency specialist firm, said that Cape Verde is among the emerging markets and believes it will become an investment hotspot.

A spokesperson for HiFX commented that France and Spain still remain popular investments but they look set to lose out to a number of emerging markets such as Dubai, Bulgaria and Cape Verde. One advantage is that these countries offer less expensive properties than those of France and Spain.

The economy in Cape Verde has noted considerable growth over the last few decades, according to the Global Property Guide, between 1980 and 2005, per capita gross domestic product (GDP) grew by 128%. The Global Property Guide anticipates capital growth of between 10%-15% per year on property.

Finally, Cape Verde has been ranked among Channel 4’s 20 best places to buy in the sun.