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Cape Verde: an underrated investment opportunity?

Cape Verde: an underrated investment opportunity?

What do Spain, Portugal and Cyprus have in common? These sunshine soaked destinations are, out of the 6 geographies we work across, most synonymous with holidays and rental investments.

But did you know we also have property portfolios in Bulgaria and Cape Verde? Slightly further afield than familiar tourist hot spots like the Algarve and the Costa del Sol, people looking to invest in property abroad – either for relocation or as a rental – could be missing out on some big returns by not considering these two emerging stars in the overseas property market.

 

Today, we’re putting Cape Verde on the map.

 

A cluster of lava-fired islands tucked away in the mid-Atlantic, approximately 350 miles off the west coast of Africa, Cape Verde is as stunning as it is remote. With Creole Portuguese-African culture, spectacular beaches and traditional morna music, these islands offer an experience like no other. Here’s why it might be worth extending your gaze two hours south west of mainland Europe:

 

Tourism is set to boom

The number of tourists increased by 11.2% in 2017 compared with 2016. This is according to the Cape Verdean Bureau of Statistics, which reported welcoming 716,000 tourists last year. Most visitors hailed from the UK, with Brits making up around 24% of all international tourists, followed by Germany, France, the Netherlands and Belgium. A report published by the World Travel and Tourism Council (WTTC) highlighted that tourism contributed 44.5% of GDP in Cape Verde last year.

 

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Direct flights are available

With non-stop flights from the UK and other major European destinations to the four international airports in Cape Verde, the archipelago is very accessible to overseas visitors. There’s also talk of the nation joining the Schengen Zone, so in the future tourists may not even need a visa to holiday in this island paradise.

 

Demand heavily outstrips supply

With strict government legislation only permitting low-level and low-density projects to go ahead, Cape Verde is fiercely protected from overdevelopment. This is great news for potential investors, as demand is likely to outstrip supply for the foreseeable future – and of course because Cape Verde’s natural beauty will continue to dazzle and attract greater numbers of tourists from overseas for years to come.

 

There’s year-round sun

With direct flights to spectacular landscapes, crystal clear ocean and fabulous stretches of sand, the tropical temperature is the icing on the cake and sure to appeal to holidaymakers across the globe – particularly those from chillier climes! With the mercury generally sitting in the upper 20s (that’s °C for any readers from across the pond!) and 16 hours of sunshine a day, Cape Verde has vitamin D in ready supply.

 

There’s plenty to do

While the majority of visitors make a beeline for the islands of Sal and Boa Vista, thanks to the incredible diversity of the ten islands that make up the archipelago, there is something for everyone. From island hopping to trekking up mighty volcanoes (notably Pico do Fogo which towers almost 3,000 metres above ground), there is a myriad of outdoor activities. Visitors can also try sailing, diving and windsurfing

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Invest in Cape Verde with Ideal Homes

With tourism on the rise, accommodating visitors from abroad is swiftly becoming a priority, and foreign investment is welcomed across Cape Verde. Hotels are popping up across the archipelago, which is great news for investors, as buying a luxury hotel room as part of a fractional ownership deal is a popular way of jumping onto and climbing the property ladder in Cape Verde. To summarise, Cape Verde is not only an exotic holiday destination, but also full of potential for investors seeking to expand their international portfolios.

 

If you would like to speak to an expert about investing in this wonderful corner of the world – or Spain, Portugal, Cyprus, Bulgaria and Florida – Visit our website www.idealhomesinternational.co.uk

 

With free consultations centring on overseas destinations, mortgages, tax, legal issues and the buying process, there’s no better place to start your investment or relocation journey!

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