Cape Verde Property Investment News

Investors note Cape Verde performing well in key areas

Cape Verde’s strong performance in the World Bank ‘Governance Matters 2007’ poll is one of a number of recent signs that its evolution into a strong and exciting economy is going from strength to strength. Recent weeks have also seen Cape Verde reveal the latest infrastructural improvements to be made on the islands, and the announcement that it has been named ‘freest’ nation in sub-Saharan Africa – both positive signs for the future of the nation and its property market.

The poll conducted by the World Bank found Cape Verde to be one of the best performers of the ‘good governance states’, and to have been successful in its efforts to eradicate violence and enforce law, and in dealing with corruption, government effectiveness and regulatory quality. These results augur well for the nation as a whole, but will also boost its attractiveness as a tourist hotspot and stable investment destination.

It has recently been reported that, with help from the EU, Cape Verde is working towards improving its infrastructure. Improvements to its water supplies are planned, and the country is moving towards utilising alternative energy sources, including using solar power to pump water around the islands. As well as the obvious environmental benefits, this will also enable Cape Verde to reduce its dependence on expensive energy imports. Since the strength of the nation’s property market up to this point has largely been a result of its improving infrastructure, on-going development such as this is good news for investors.

Finally, the American organisation Freedom House, a global campaigner for freedom and democracy, has awarded Cape Verde with the highest rating for political rights and civil liberties. This demonstrates the headway the islands have made since 1991 when its first multi-party elections were held. It was the development of the nation’s democracy that first prompted the interest in the investment potential of property on the islands.