Cape Verde Growing in Popularity with Overseas Buyers
06 August 2011
The latest release of search data from Rightmove, the UK's largest property portal, Cape Verde is rapidly growing in popularity among those searching for overseas property, in fact it is one of the fastest growing destinations in the world.
The Rightmove search data is broken into various sections, and one of the biggest indicators of upcoming hotspots is the chart of top 10 trending searches, which according to Rightmove charts "the locations showing the most consistent positive performance in searches on Rightmove Overseas".
On the chart for June we find Cape Verde in the third slot, but the chart isn't numbered it simply displays the 10 hottest locations.
According to the table, searches for Cape Verde property grew 46% in June, which saw it take position 104 in the overall Rightmove locations chart, climbing 33 spaces in the space of a month, leaving it 40 spaces higher than June 2010.
This confirms the other reports we are hearing about surging foreign sales of Cape Verde property. Not that they need confirming. Not when you can see resorts like Tortuga Beach and Spa on Sal Island opening 100% sold out, spurring the launch of the second development in a resort village Dunas Beach which is three times the size and already well on its way to selling out.
Of the resorts mentioned above, apart from hot sales, another trend was identified; a prevalence of people buying as part of Self Invested Personal Pensions (SIPP). This indicates that overseas property investors are being advised as to the incredible investment potential presented by Cape Verde. No doubt advisors are pointing to the low property prices, and limited development space, which should put upward pressure on property prices as the tourism market grows.