Investment Property Abroad

For most people buying, selling, letting and renting their property can be a nightmare as well as being a very expensive experience.  Using a low cost fixed fee Estate Agency Network alleviates all of these fears and saves you thousands on what is usually a straightforward transaction.  Bringing like minded people together on one site, keeping them in touch every step of the way and reducing their outlay is what dwood-property.com is all about.  The brainchild of David Wood, a well respected Estate Agent fully conversant with all aspects of the property world, including throughout the Canary Islands and Cape Verde, it is the accumulation of the need for a good service for a fair price.

Cape Verde, this year’s hottest emerging market, is attracting developers, investors and homebuyers from all over the world – from Ireland in particular.

This is one of 2007’s most rapidly growing markets yet up until recently it was completely unheard of. Most people had never even heard of Cape Verde let alone known where it was.

Now, with promises of serious capital appreciation over the years it’s one of the most talked about hot spots on the map.

Cape Verde (Cabo Verde)
To some extent, Cape Verde shares a similar geographical position to Ireland – in the Atlantic Ocean, at the very edge of the continent. The weather however is a different story…

It’s perpetual springtime here, with year round sunshine and average air temperature of between 22 and 27C and the sea temperature of 21 to 26C. Not a cloud or patch of rain in sight!

Cape Verde is an African country made up of ten main islands and five islets. The main islands are Santiago, Santo Antao, Boa Vista, Fogo, Sao Nicolau, Maio, Sao Vicente, Sal, Brava, and Santa Luzia.

The country gained independence from Portugal in 1975. Ever since 1990, they’ve been a pluralist democracy. Cape Verde covers an area of 4,033 sq. km, with around half the population living in Santiago (or Sao Tiago in Portuguese). This is home to Cape Verde’s capital city – Praia.

Cape Verde is on the same latitude as Barbados; it has a perfect tropical dry climate with very little rainfall. It’s three degrees warmer than the Canary Islands.

The islands are known for their stunningly diverse landscapes, with; endless white sandy beaches, crystal clear warm waters, formidable volcanic peaks, lush green vegetation and lunar-like desert-scapes.

Like the Canary Islands each individual Cape Verde Island is vastly different from the other with its own individual character, attractions and charm.

For the moment, most of the development is taking place on Sal, Santiago and Boa Vista, but it looks like Sao Nicolau, Maio and Sao Vicente are set to follow.

Investor’s paradise
Cape Verde is perfect for pure investors, whether they’re looking for a buy-to-let purchase or just want to increase their wealth through property appreciation.

It’s literally a virgin new-build property market. With cheap labour and good value for money properties, Cape Verde offers exceptional value for money for both developer and investor alike – much more so than traditional tourist hot-spots like Spain, The Canaries, Portugal and Greece etc.

The government realizes that Cape Verde’s future lies in tourism. They’ve seen it rise by 25% over the past four years and are keen to make sure it keeps on rising. They hope to see “annual tourism figures double to over 500,000 by 2015”, according to Dominic McGlynn of Sambala Developments.

Property Appreciation
Property appreciation (the key to investment security) is almost guaranteed on Cape Verde.

The Government aim to “permit only low-rise development and to promote eco-tourism and its own lively Creole culture”, according to Maria Rosario de Luz, the adviser to Cape Verde’s minister for economic growth.

The construction of new developments will be restricted in order to avoid the overdevelopment problems that have plagued many markets recently – most notably Spain.

So therefore, with a big demand for properties and a smaller demand of properties available (demand exceeding supply) investors can sit back and just watch their properties go up in value.

Cape Verde’s rental Potential
Tourism, which is growing steadily, drives the rental market. And, with year-round sunshine and some fantastic beaches, investors can rent out their properties all year long at tourist prices.

From an investment point of view this adds a huge degree of stability to any Cape Verde property purchase. It’s a key factor for investors, assuring them of Cape Verde’s solidity as a profitable and secure investment location.

On Cape Verde, it’s doubtful that your property will be left empty, for any significant time period.

The Cape Verde Island chain is located around 400 miles off the west coast of Senegal (Africa) about one hour south of Spain’s Canary Islands. It has a landscape, culture and atmosphere all of its own – completely distinct from the mainland.

Cape Verde is a land of stark contrasts; from its fiercely volcanic landscapes, to its endless sandy beaches, lush green forests and vast deserts.

Often called the “new Canary Islands” Cape Verde is very similar in both landscape and climate to its northern neighbours.

Like the Canaries, each Cape Verde Island is vastly different from the other. Unlike the Canaries, Cape Verde remains free of mass tourism and overdevelopment. Whether or not Cape Verde will go down the same road as the Canaries is hard to say. It’s certainly growing at a phenomenal rate.

Although it’s an African country, Cape Verde has a culture that’s distinctly different to most of the countries you’ll find in Western Africa.

They have their own traditions, music, languages and religion – most countries in Western Africa are a mixture of Islam and Animism, whereas on Cape Verde the majority are Catholic Mestizos.

Located between three continents, Cape Verdeans are as likely to have a European or South American outlook on life as an African outlook.

Crioulo is the spoken dialect in the northern islands, whereas in the south they speak Krioulo. Within each island, there are many variations of these dialects making communication quite complicated.

Crioulo and Krioulo are both based on colonial-era Portuguese. You’ll often here the occasional English or West African words thrown in.

It’s hard to categorize Cape Verde. It’s a mixture of African, Brazilian and European yet at the same time it’s completely different from the surrounding continents. It’s a fascinating and at the same time bewildering country – staggering beautiful and full of exotic charm.

Property Prices in Cape Verde
On Cape Verde prices are still relatively low, especially compared to the Canary Islands, Spain and France.

Here are a few examples of what you’re likely to find online…

Studio, Sal Island
Fantastic, reasonably priced, studio in the town of Santa Maria, Sal Island,
Sale Type: Off Plan
Price: £ 47,894

Studio Apartment, Santa Maria Island
Reasonably priced, studio apartments for sale in Santa Maria, Sal Island, Cape Verde. Only 15 minutes from the airport.
Type: Studio
Sale Type: Off Plan
Price: £ 45,449

Studio, Salinas Sand, Sal Island
Off plan luxury apartment with great facilities including shared pool, jacuzzi, bar and shops and also near beach.
Type: Apartment/Condo
Sale Type: Off Plan
Price: £ 46,413
Local price: Esc 7,557,243

The Future
Cape Verde is undoubtedly one of 2007’s most hyped-up property investment locations. Developers and agents are selling it as everything from “the Caribbean on your doorstep” to the “Canaries without the concrete”. One thing’s for sure, the islands are growing rapidly and the economic outlook is very good.

This once impoverished third world country is rapidly changing into one of the most important international resorts south of the Canaries.

There are concerns however about the darker side which mass tourism often brings. Crime levels have gone up slightly on the archipelago – at one stage they were negligible.

Most will agree though, that the positive impact of tourism on the country’s economy will far outweigh the bad. Tourism is the driving force behind Cape Verde’s development and is expected to increase employment, create a better standard of living and overall help build a wealthier nation.

Last year (2006) Cape Verde’s economy grew by the highest rate in almost a decade. According to MacauHub the international Monetary Fund state that the islands recorded economic growth of 10.8% during 2006.

These figures have shocked everyone – even the Cape Verde Government who had suspected an economic growth of between 6 and 7%.

Jose Maria Neves, Cape Verde’s prime minister, states that the islands’ emerging tourist sector is largely responsible for this growth, describing it as the “main engine” driving the economy.

Along with excellent value for money properties, Cape Verde’s increasing popularity as a year round holiday destination has helped create a boom in its property market.

Out of Africa – Cape Verde
Located in the Atlantic Ocean, just 400 miles west of Dakar, this small island chain has a landscape, climate and atmosphere like nowhere on mainland Africa.

Cape Verde is full of surprises – full of contrasts; from its fiercely volcanic landscapes, bubbling with sulphur and fire to the flat, arid scrub of the Sahel.

Cape Verde is often compared to the Canary Islands – the Canary Islands before the cement mixers moved in and mass development took place. Whether or not Cape Verde will see the same consistent growth as the Canaries is hard to say. Up until recently, development on Cape Verde had been slow and inconsistent; this is changing rapidly though, as demand for properties escalates.

Cape Verde has a cultural and charm that’s distinctly unique from the mainland. While most West African countries are a mixture of Islam and Animism (the belief that souls inhabit all or most objects), most Cape Verdeans are Catholic Mestizos. Their outlook on life is as European as it is African.

On the northern islands they speak Crioulo, whereas on the southern islands they speak Krioulo – both are based on colonial-era Portuguese with the occasional English and West African words thrown in.

Cape Verde defies generalizations. It’s hard to say exactly what makes it so different from its neighbours or what makes each of the individual islands so different from each other. It’s a fascinating yet bewildering country.

Property for Sale in Cape Verde
Here are a few examples of what you’re likely to pay on Cape Verde…

Studio Apartment Property for sale in Santa Maria, Cape Verde
Lovely reasonably priced, studio apartments for sale in Santa Maria, Sal Island, Cape Verde. Only 15 minutes from the airport.
Type: Studio
Sale Type: Off Plan
Price: £ 45,449

Studio apartment property, Salinas Sand, Sal, Cape Verde
Studio apartment for sale in Santa Maria in Sal Cape Verde. Off plan luxury apartment with great facilities including shared pool, jacuzzi, bar and shops and also near beach.
Type: Apartment/Condo
Sale Type: Off Plan
Price: £ 46,413
Local price: Esc 7,557,243

Studio Apartment Property on Sal Island, Cape Verde
Fantastic, reasonably priced, studio apartments for sale in the town of Santa Maria, Sal Island, Cape Verde.
Type: Studio
Sale Type: Off Plan
Price: £ 47,894

What will the Future Hold for Cape Verde…
Cape was once regarded as a tiny windswept archipelago, literally in the middle of nowhere and of no real importance whatsoever.

Now it’s being labeled everything from the “new Canary Islands” to Barbados without the jetlag”. The hype is phenomenal. Some people are skeptical as whether or not the islands will measure up.

The local Cape Verdeans seem confused by their newfound transitional state – impoverished Third World country, stroke super slick international resort.

It appears that crime levels on Cape Verde, although once non-existent, are slowly starting to rise and there are concerns about the darker sides of tourism.

Overall, the positive impact of tourist on Cape Verde should far outweigh the bad. The economy is booming and employment should rise as the tourism industry thrives and the nation becomes wealthier.

“Bemused by the architects’ plans for a huge coastal development on Santiago laid out before him, one minister is said to have exclaimed: ‘Why would they want to come here? All we have is sun and beaches’”.

Recently an article by Robert Nurden (The Telegraph) looked at 2007’s most lucrative emerging market – The Cape Verde Islands.

Initially the Cape Verdean Government thought their islands would be of no interest whatsoever to northern Europeans. It didn’t take long to convince them that all Europeans wanted from a holiday destination was sun and beaches.

After seeing the demand for property on the archipelago and the how much tourism will benefit their economy, the government is now welcoming European investors with open arms. They’re literally throwing money into the islands’ infrastructure and development.

Many UK buyers are purchasing property on Cape Verde as a retirement home – a chance for a new beginning – where you can have a relaxed and healthy lifestyle in perpetual sunshine and warmth. It’s certainly a more adventurous and exotic option than say opening up a bar or restaurant in Benalmadena or Fuengirola.

Cape Verde Islands
Cape Verde is an African country, consisting of ten inhabited islands. It’s located in the Atlantic Ocean, about 400 miles off the west coast of Senegal, about one hour south of the Canary Islands. The people living here are a dynamic mixture of African, Portuguese and Brazilian.

UK and Irish buy-to-let investors along with the Italians have has a huge impact on the country’s rapidly developing infrastructure.

It’s the closest tropical paradise to Europe – just five-and-a-half hours (direct). Last year Astraeus Airline started its direct flights from Gatwick and Manchester. They fly once a week.

Why Choose Cape Verde
One of the archipelago’s biggest attractions is its close proximity. It’s been described “Barbados without the jetlag”.

The weather on Cape Verde is generally nicer than on the Canaries – which is quite impressive. It’s slightly hotter and more consistent – a perfect beach climate. It stays hot and sunny all year round, making it ideal for renting, whether it’s winter, summer, spring or autumn.

Cape Verde’s landscape is incredibly varied. You’ll see spectacular volcanic peaks, along with endless sandy beaches and lush green vegetation – very similar to the Caribbean Islands.

It’s still an emerging market. Investors who move now are still getting in at the beginning. Anyone who buys now will reap the benefits of the sharp increase in property values a few years down the line. As the islands are continually developed and nurtured property price increases are literally guaranteed.

Cape Verde is relatively crime free – especially when compared to modern-day Britain. It’s also politically stable, largely efficient and technologically advanced.

Investing In Cape Verde
A few years ago, buyers were investing solely for investment reasons; buy-to-let and property appreciation etc. They’d often buy in bulk, sometimes up to 10 apartments or more.

Things have clearly changed though. There’s not many UK buyers are looking to set up permanent residence on the islands (yet) – not like in Southern Spain and the Canaries.

There are however growing numbers of buyers looking for a holiday home that they can use themselves for a couple of weeks in the winter and rent out the rest of the year.

Most of the developments on Cape Verde are still in construction. There’s only a handful actually finished. Properties are in big demand. And with a price increase of 18 per cent last year, buyers are keen to get in quick.

Now is the time to move, as prices are still low. The starting price for an apartment is still as little as £30,000 – something you won’t find in Tenerife!

At the other end of the scale, a villa with six bedrooms, six bathrooms and a pool can be picked up for less than £350,000.

“The new Canary Islands”
Cape Verde is often labeled the new Canary Island mainly because of their similar location and similar climate.

But there is a danger that they might turn into another version of their less culturally diverse neighbours to the north – with widespread mass tourism and development.

The scale of development suggests that this seems inevitable.

It’s true, they are getting busier but as of yet, these paradise islands remain unspoilt, natural and bursting with indigenous Cape Verdean culture and charm.

One of the most popular and lucrative investment options throughout Spain, the Canary and Cape Verde Islands is buying off-plan.

Although it can be a gamble, if successful, off-plan projects greatly benefit the developer and estate agent as well as the buyer.

For developers, it’s a way of reducing their risk, while at the same time using someone else’s money to finance their project.

Estate agents make very generous commissions, when they sell an off-plan development. They’re normally quite easy to sell too. Amateur speculators are often very keen to buy into an investment option with a strong reputation for “guaranteed high-returns”.

Plus, they can make the sale, take the commissions and run. They don’t have to worry about complaints or hassles from the buyer who takes possession two years down the line.

A significant proportion of UK investors looking to buy property in Spain and the Canaries will choose off plan. Most of them are amateur speculators looking for that risk free, high return investment.

Buyers can make considerable savings when they buy off-plan. It has numerous advantages…

Advantages
Ideally, what you should end up with is a lower cost, high quality property, that’s risk free.

Price
This is the biggest advantage of buying off-plan. You can expect to pay around 10 – 30% less than you would for a similar resale property in Spain.

Developers charge less as a form of compensation. They’ll compensate you for taking the risk – as paying hundreds of thousands of euros for a property that hasn’t even been finished, or even started does involve a degree of risk.

You’re also being compensated for providing the developer with the money they’ll need to help finance the development.

Quality
What you get with an off-plan investment is a property made with the most up to date building materials using the latest construction techniques. They’re much higher quality than traditional Spanish constructions – which can be quite bad. In Spain and the Canaries a brand new property should be the highest quality in the market.

Over the past few years, building regulations have been tightened, encouraging much higher standards. They’re constantly improving – so the newer the property, the higher the quality. Having said that, it ultimately depends on the spec. offered by the developer – what kind of development he plans on building.

Risk Free Investment
In Spain, you’re entitled to a number of guarantees from the developer. The law covers you for different types of build defects over different periods.

If you buy off-plan, you’re property will be guaranteed against the most serious structural defects for 10 years. And if you buy a property form a developer that’s just been finished, you should get the same guarantee.

Flexibility
To some extent, you can have your own creative input into what the property will look like (colours, floorings, certain fixtures etc.). Developers can be very flexible on this. The degree of flexibility varies considerably from one developer to the next.

Selling the property
If you change your mind about the development and want to sell the purchase contract before the property is finished, you might be able to sell it on to a third party and make a huge profit in the process.

This has certainly been the case in the past and has also been one of off-plan investing’s greatest attractions.

Nowadays though, things are different. In Spain’s popular coastal areas, like the Costa de Sol, overbuilding has become a problem, making it more and more difficult to sell on properties before completion. On the Canaries and Cape Verde however, this is much less of a problem.

Colonised by Portugal in the 15th Century, Cape Verde gained it’s independence in 1970 and has never looked back, and is now taking it’s place on the world property investment and holiday stage.
The 10 islands all have their own character and charm and all that is being coupled with modern developments with the emphasis on comfort and style. Derek Muhs, managing director of the Atlantic Property Group has been speaking about the attractions of the islands on Power Fm , the leading radio station in the Canary Islands, just over an hour up the African coast.
In the Caribbean, the hot dry weather can lead to problems like tropical storms, Cape Verde is spared that with just 10 days a year of rain. There used to be a problem with a lack of water but now new desalination plants are helping to recycle water from the sea. This is just one way that the new input of money from overseas investment can help to improve the lives of the friendly music loving people of the islands.
In the past the islands have relied on fishing and agriculture to sustain the economy but now they will benefit from the fruits of their temperate climate as it attracts visitors.
Not many people get a chance to invest in a new destination just before it is embraced by the wider public but in Cape Verde, the time to invest is now.

Listen to Derek Muhs on the AIP Blog talking about the Cape Verde Islands.

As an investor you want to keep up to date and informed with all that is happening in current property trends.  One such property trend is located in The Cape Verde Islands where TRI  www.capeverdepropertyagent.com have a great many New Developments and properties for re-sale.  Many of the islands that make up Cape Verde are going through massive infrastructure changes, increasing the value of property investments daily.  Don´t miss out and be sure to contact TRI and  secure your investment in Cape Verde without delay.

www.capeverdepropertyagent.com

Land for sale in Cape Verde is a much sought after commodity as it represents a first-rate investment opportunity. There are numerous new developments on the islands (including Ponta Preta and Tortuga Beach) that have already produced significant returns on investment.

Now is one of the best times to invest in Cape Verde. Prices are still low and property vales are expected to increase dramatically. As well as being a top holiday destination, Cape Verde is widely regarded as the hottest investment area for 2007.

All the major tour operators are now starting to invest heavily into this tropical paradise.

Cape Verde Overview
The Cape Verde Islands are located off the west coast of Senegal (Africa), just one hour south of Spain’s Canary Islands.

In total, the archipelago consists of ten idyllic tropical islands, known for their spectacular mountain scenery and beautiful deserted beaches.

Cape Verde has a total land area of 4,033 square kilometres. Sao Tiago, the largest island, covers 991 square kilometres. Santo Antao is the second largest island, followed by Boa Vista, Fogo, Sao Nicolau, Maio, Sao Vicente, Sal, Brava, and Santa Luzia. Santa Luzia and the five islets are uninhabited.

Each of the islands has its own distinct natural character… from the volcanic Sao Nicolau to the diving paradise of Boa Vista. Santiago is often described as lush green paradise compared to Sal, (the “salt island”) which is a lot sandier.

Investing in Cape Verde

Cape Verde is an attractive alternative to the Caribbean. It has the same perfect climate and excellent beaches, yet it’s four hours less flying time.

Buying your own piece of land in Cape Verde means owning your very own piece of tropical island with pristine white beaches, year round sunshine and endless charm.

Most investors are looking to the island of Sal as it’s becoming one of the most fashionable resorts on the archipelago and it’s also home to an international airport with direct flights to Europe and the UK.

Santa Maria on the island of Sal is now rapidly expanding and it’s predicted that in the future prices here will be at a premium. Sal is located around 460km from the West African coast and boasts all year round temperatures of between 22-27 degrees.

Land for sale on Cape Verde
Here’s an example of the price you’d pay for a plot of land in Cape Verde.

Plots going for between €75,000 and €12,000
This development represents an excellent opportunity with a highly competitive price structure.

Details:
Plot prices from: €75,000 for a premier plot and €125,000 front line plot (available with a pre-launch 15% discount).
Chance to purchase plot then build villa.
Ability to sell plot when infrastructure in place.
Finance available for the villa build subject to status.
New Marina.

Why Choose Cape Verde
Cape Verde has an idyllic climate with air and sea temperatures three degrees warmer than the Canaries. It’s home to some of the most spectacular beaches on the planet.

It’s an emerging market with fantastic investment potential – significant increases in property prices are expected. With year round sunshine, properties can be rented at peak season prices all year round.

Cape Verde has sunshine levels of 10 to 12 hours per day. It hardly ever rains.

The country is also stable, socially, economically and politically.