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Investment Overview

The appeal of investment property in Cape Verde is mostly due to the infancy of its property market, together with its natural potential as a destination for tourists and second-home owners. In a market where many investors are looking globally for the next emerging market in order to find the most profitable real estate opportunity, investment property in Cape Verde ticks all of the boxes. Cape Verde is a politically and socially stable country, with a growing economy boosted by private and public investment and which is soon expected to be supported predominantly by its tourist industry, yet its property market is relatively immature and so properties are available at low prices.

Investment-friendly environment

The economy of the Cape Verde islands has benefited from considerable investment over recent years that has seen Cape Verde upgraded from a ‘low-income’ to a ‘middle-income’ country. The government is promoting inward investment and encouraging property developers from overseas with tax breaks and other incentives.

Focus on tourism

Cape Verde recently made it into the top ten most popular destinations to buy a home worldwide, as voted by readers of the overseas property magazine ‘A Place in the Sun’, and also into the top ten of the Currencies Direct ‘Global Emerging Markets Index’ earlier this year. It is predicted that the Cape Verdean government’s emphasis on expanding its tourism industry will drive up the demand for and the price of investment property in Cape Verde, so complementing government initiatives to boost foreign investment in property. Vitally, tourism will also support a greater proportion of the country’s economy, taking the pressure of less stable industries. It is expected to be the country’s largest economic sector within a few years, and visitor numbers are rising by around 22% every year. The government’s efforts are paying off; Cape Verde was at the top of holiday firm Expedia’s top ten holiday locations for 2007.

Demand for accommodation

The Cape Verdean government has a target of a million visitors annually, to be achieved by 2015. It is expecting that as its popularity as a holiday destination rises, so too will its popularity with overseas property investors. Although the number of hotel beds in Cape Verde continues to grow with development, tour operators Airtours and First Choice reportedly say that to meet the current demand, the islands need another 400 a week, which benefits buy-to-let investors.

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Documents and Reports

	Cape Verde property investment report (325Kb)
Documents and Reports

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