Cape Verde An Overseas Property Investors Delight
This article concentrates on the little known islands of Cape Verde. Overseas investments experts are forecasting returns on investment of 70% over a term a five years. This could well be the place for winter sunshine holidays and buying investment property before the boom.
Savvy investors and those with a good eye for the next big thing are investigating the opportunities that owning a property in Cape Verde would present.
The republic named after Cap-Vert (meaning Green Cape) is located off of the west coast of Africa, about 500 kilometers from Senegal. The islands consist of 10 main islands and a number of smaller islets. The group of Cape Verde islands includes Santo Antao, Sao Vicente, Santa Luzia, Sao Nicolau, Sal and Boa Vista. The southern part the islands include Sao Tiago, Brava, Fogo, and Maio.The previously uninhabited islands were discovered and colonized by the Portuguese in the 15th century.
Overseas investments experts are forecasting returns on investment of 70% over a term a five years. The big bonus for UK visitors is that flight times of only 5.5 hrs from UK with little jet-lag due to similar longitude. This could well be the place for winter sunshine holidays.
Investors who got in early are holding on tightly to what they have got whilst keen eyed overseas property investors are looking for a foot hold on the Cape Verde housing market.
The capital city of Praia sits on the island of Santiago, the largest of the islands. Portuguese is the official language for the 510,000 residents, but a form of Cape Verde Creole is spoken by many among the islands and varies from island to island.
Santa Maria is the tourist area of Cape Verde and is located on the island of Sal. There are beautiful white beaches in the area as well as quiet little fishing villages. The most popular property is located amongst the beautiful beaches and warm tropical waters.
Maio is an island of charming fishing villages. The beauty of this area is indescribable and is great for those who are interested in the raw beauty of the islands. This island has become popular for its vacation homes and crystal blue waters.
Mindelo features the international port of Sao Vincente. The harbour was created from a volcanic crater and the city is very cosmopolitan. The town is energetic and prosperous featuring British style architecture and Portuguese colonial buildings. Midelo is the main city of the island of Sao Vincente and is known for their popular carnival. Midelo does not rely on tourism and is self-sustaining through the port and fishing industry. Many investors find this to be a positive feature when they are looking at investing in this property.
The most recent property development in Cape Verde is Palm View and it indicates to me the faith major developers have in the region. It is the first 6 Star resort on the islands and you can imagine with the 6 star tag no expense has been spared.
The property buying process in Cape Verde Islands is straightforward and foreign nationals may freely purchase property here. A solicitor or lawyer should be obtained to facilitate the process and make sure everything is done correctly. Typically a lawyer will request and obtain the necessary tax cards and other documents for you in the process, so you will need to give this person Power of Attorney. It is a good idea to independently obtain a translator to help translate everything for you, since all documentation must be completed in Portuguese.
Cape Verde could well be a challenge to the Canary Islands and seems ripe for the property investor who likes to get in before the rush.
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ABOUT THE AUTHOR
Author Nicholas Marr has a passion for international real estate and property in stunning locations such as Cape Verde. He is responsible for overseas property websites that include http://cape-verde.homesgofast.com and http://www.homesgofast.com