Cape Verde Property: A Hotspot in the Making
04 May 2011
Cape Verde is attracting investors due to good rental yields and a strong potential for capital growth. Due to the archipelago's position it enjoys a good year-round climate; with no low season, occupancy rates are high. This makes it perfect for producing solid rental yields, especially when the right property is chosen.
Temperatures on the island tend to be around 30°C during the day and in the low 20°C during the night, as the islands share the same latitude as Barbados. The constant year-round temperatures mean that the sea is consistently warm -- an ideal holiday climate.
The islands were discovered by Portuguese explorers in the 15th century and this has left them with a rich cultural heritage encompassing a number of influences. This is expressed by the locals in their wonderful cuisine and vibrant music. But the islands have only recently become popular with tourists and investors.
Cape Verde is known for being especially good for windsurfers and kite surfing, while scuba divers are attracted to the multitude of shipwrecks dating back as far as the fifteenth century. The short-flight; just 5 hours from London is also a tick in the pros box for Cape Verde.
There are a number of new developments taking place on the islands ranging from apartments to five-star hotels as Cape Verde property grows in popularity. Boa Vista is one of the most popular islands as it has 55 km of sandy beaches offering numerous water sports, and also boasts diverse wildlife. As such it is becoming one of the most popular islands for developments.
Cape Verde's emergence as an overseas property hotspot began towards the tail end of the boom. The bust left it high and dry, but because it was such a young market, with a very immature mortgage market and no-bubble, there was no crash either. Thus all its growth potential was stored, and the market is beginning to flourish once again now.