| Map of Cape Verde | | |  | Cape Verde is situated in the Atlantic Ocean, 600km (450 miles) west-northwest of Senegal. It comprises 10 volcanic islands and five islets in two groups: the Balavento (Windwards) and the Sotavento (Leewards). There are many superb diving sites around the islands, several of which have shipwrecks dating back to the 16th century. Windsurfing opportunities are also excellent. | | | Many of the islands have spectacular mountain scenery and beautiful deserted beaches, such as Tarrafal on São Tiago. San Filipe has a spectacular volcano and fine beaches. There are good markets on some of the islands, and a number of colourful festivals. Mindelo on São Vincente, with its Portuguese-style buildings, is worth a visit. The main local culinary speciality is cachupa, a mix of maize and beans. Fruits include mangoes, bananas, papayas, goiabas (guavas), zimbrão, tambarinas, marmelos, azedinhas, tamaras and cocos. Beer, wine and local spirits are commonly available and punch is a popular beverage. The nightlife is mainly centred around the discos in hotels and several nightclubs.
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Plenty of exciting investment opportunities
There is a lot of excitement brewing in the property investment circles, and it’s all about the future of Cape Verde as the next great tourist hotspot. The islands have an incredible lot going for them. They are stunningly beautiful and are at their very best all year round, thanks to a lovely temperate climate that does not really vary with the seasons. But there’s much more to the story.
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Tourists and investors are discovering Cape Verde’s great potential
The Cape Verde islands (also known by their Portuguese name Cabo Verde) are the closest tropical islands to Europe. This means that they have an enormous potential to become a more affordable – and more attractive – alternative to other far away holiday destinations.
Now that the islands are finally being discovered by the mainstream tourist market, the future of Cape Verde is looking very promising indeed. It’s no surprise that the country’s tourism is expected to continue to grow by 25% per annum, as it has done in recent years. What is really amazing from the European investor’s point of view, however, is that in this day and age there actually exists such a lucrative and almost untapped investment potential so close to home.
Heavy investment to improve Cape Verde’s touristic offering
Both private companies and the local Cape Verdean government are investing massive sums of money to upgrade the islands’ infrastructure and improve the touristic product and experience. This means that future tourists to Cape Verde will get much more value for money, which is bound to make the islands an even more popular destination. The islands are already well connected to many of Europe’s major cities and more airlines are starting to offer new flights to Cape Verde. This increased competition and wider availability of flights will mean lower travelling costs and thus many more visitors.
The local government is also seeking to guarantee the future of Cape Verde by working hard to boost the country’s economy and strengthen the booming tourism market. To this end, they are offering some very attractive tax and other incentives for foreign investors and have also developed strong ties with the European Union. In fact, Cape Verde is even discussing and laying the groundwork for possible full EU membership in the future.
Property investors are keen to buy into Cape Verde’s lucrative market
All these exciting developments in Cape Verde are creating a strong emerging property market that is attracting a lot of interest, both from people looking for a pure investment, as well as from those who want to make money off their new property by following the buy-to-let strategy.
It stands to reason that buying early – at a time when the property market is still in its infancy and prices are as cheap as they will ever be – promises to yield the greatest possible profits. The rare opportunity to buy into a still-emerging market is actually the most exciting thing about Cape Verde. It is also exactly why so many investors are literally rushing to estate agents to buy property in new developments, or even virgin land, and so take advantage of the lucrative returns that the future of Cape Verde promises to bring.
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Cape Verde Overview
