Hi there, can't find anything on Cape Verde...has anyone (or know anyone) who has taken the plunge over there? Looks great although it looks like a long term investment. There doesn't seem to be resale properties either. If anyone has any info good or bad, I'd really appreciate it!
thanks

sandy

I had a quick look at this and had the following thoughts :-
- it is a hotspot with huge potential
- flights from UK not running yet and you need
to pay for a visa to get there
- the prices are too high too quickly
- lack of clarity on maintainance costs
- no real resale market

I think you buy CV if you like the place or are prepared to take a long term punt. There are other countries where the property market is more developed and you can make a steady return.


-

Hi Sandy,

I have bought a 2bed apartment in Cape Verde - I chose the Vila Verde development on Sal island.

I spent several months researching the islands and various developments.

I agree with Anil on a couple of points:
It does appear to be an up and coming hot spot.
Direct flights will be running from London and possibly Manchester from Nov 2006 with an airline called Astraeus - apparently this will take approx 5.5hr and will fly into Sal (This was one of the reasons why I chose Sal for my investment).

Yes you do need a visa and you can get it when you get there or apply before you go. The cost is approx €35 for a single entry or €80 for multiple entry.

I opted for the Vila Verde development as I researched the developers and I was impressed by my findings this will be a high standard resort.

I also agree that the resale market isn't there currently but because the islands are getting good press coverage (There was an interesting article about the islands in the Times a couple of weekends ago). I think that it will be a sound investment in the medium to long term (5-10 years)

Regards
Jess

I looked into Cape Verde about a year ago. My only big concern that hasn't appeared above was proximity to hurricane path (on route to the Carribean.) Guess if I were to invest the property wouldn't be front line beach, but a little further back with elevation. Would still have wanted golf and / or sea views.

My gut feel was that Santiago island had more potential in the long term than Sal, but that Sal was better in the short to medium term. Reason for that was that Santiago was getting / has the new international airport and I think it will have more to do in 5 to 10 years time.

Cape Verde has been the subject of much speculation over the past year. Direct flights will be introduced from November from Gatwick and Manchester through charterflights.co.uk but beyond certain areas of Sal and Santiago, CV is very much a third world country. Consider your exit strategy before purchasing here. Many people who have purchased outside of the Santa Maria resort might get a shock when visiting for the first time - there are plenty of other forums saying pretty much the same thing

There is a Birmingham based Company called Investabroad who know quite a lot about Cape Verde. It might be worth contacting them.