Cape Verde Property-Sal Island Foreign Direct Investment

Recovery noted by IMF.

It is still possible to purchase a beachside property in Cape Verde for around EUR104,000 (GBP95,000).

The IMF has noted that the Islands seemed to have weathered the world wide financial crisis following a mission by the body to the country. “weathering the global economic crisis from a position of strength”

The IMF report following the recent visit to the archipelago said: “Foreign direct investment has stabilized “

It praised the policies of the country’s government and said that it is showing solid signs of recovery from the effects of the world economic slowdown.

Such a situation may encourage those thinking of buying property in Cape Verde.

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Time to relax and appreciate Fortim Mindelo Cape Verde

Blue sky, uninterrupted view of the ocean, relaxing day beds, cool pools and a discrete service team that will accommodate your every need…

The exclusivity of Fortim Mindelo, a Cape Verde Development project, does not stop at the site.

Through a joint venture with Nikki Beach, we will deliver a world renowned boutique resort with all the charm and laid back chic associated with this luxury brand.

With the historical fort at its heart the resort.

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Murdeira Beach Resort-Front Line Beach Resort Cape Verde

Front Line Beach Resort, Hotel and its Facilities, 12 minutes from the Airport, 7 Minutes from the nearest tourist town (Santa Maria).
There will be over 500 units scheduled for construction on the nearly 30 hectare site, the resort will also have a 75 berth Marina, extensive sporting facilities, shopping centre, a boat house with a diving centre and a variety of bars and restaurants. Its villas and apartments offer panoramic views of the ocean and there are dining areas with terraces over looking the Marina.
One of the largest Hilton hotels in Africa will be open within the Murdeira Beach Resort. The 470 bedroom hotel will offer all the facilities of a 5 star establishment with their own entertainment, pools, bars and restaurants.
Murdeira Beach Resort is also located on the island of Sal and is nestled in the sheltered bay of Murdeira on the west coast of the island. The resort is positioned along a 30 hectare stretch of coastline.
The development will consist of 294 villas and apartments offering panoramic views of the ocean, casual dining areas with terraces overlooking the 75 berth marina, which also hosts a boat house and diving centre, commercial units and a variety of restaurants and bars. Beyond the gardens are tennis courts, swimming pools and sun lounge areas. In addition to privately owned properties, Murdeira Beach will also have a 470 bedroom hotel which will offer all the facilities of a five-star establishment with their own entertainment, pools, bars and restaurants.

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Why investment in Cape Verde

•Increase of house prices showed double digit figures over the last 3 year, 18% in 2007
•Still early stages in terms of development
•Increasing investment by large external institutions. In 2006, 600 million dollars was invested in tourism related infrastructure by foreign parties
•Tourism showed a 25% increase per annum over the last 4 years, in 2006 approx. 240,000 tourists visited.
•This is set to rise to over 1 million during the course of the next decade
•Parity between the euro and the escudo, no currency fluctuation
•Capital gains tax and purchasing costs are low
•Number of international flights to Cape Verde is on the increase
•Cape Verde is one of Africa’s most stable democratic governments
•Service orientated economy, accounting for 66% of GDP
Demand for quality tourist accommodation is on the increase
•Economy heavily reliant on tourism, the government has a vested interest in the success and sustainability of future developments
•A Caribbean climate will fuel the growth of the islands, 27 degrees on average, warm waters
•Alternative to Caribbean, Dominican Republic, Jamaica, Spain and the Canaries
•Closest guaranteed winter sun from Europe, same distance from Equator as Barbados
•There has been a strong focus on putting infrastructure in placebefore developments
•The new airport in Sao Vicente will take international flights
•Flights into Sal have increased dramatically this year with new routes from Scandinavia, UK, Germany and an increased schedule from Portugal
•Unemployment is dropping due to the growth of the construction and tourism trade, down to 3.3% from 2005 to 2006 and falling further this year

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Nikki Beach Cape Verde – Fortim Mindelo

Speaking about his latest project Tom Sheehy, director Cape Verde Development said, “Our aim has always been to set the standard for development on the islands, truly endorsing the Government’s objective of high quality tourism.

We are very fortunate to have found a partner like Nikki Beach to work with us on this development project as Nikki Beach and style go hand in hand. While we are proud of everything we do in Cape Verde, we expect Fortim Mindelo to be the true jewel in our crown,” concluded Sheehy.

Fortim Mindelo Hotel & Resort is 10 minutes from the Airport in Sao Vicente. Situated in the centre of Mindelo on an unrivalled elevated site, the resort has 360 views of the beautiful bay to the front and the town beach and the multicoloured houses of the capital to the other sides. As well as having the town’s amenities on its doorstep, Fortim Mindelo is only 10kms from the famous beaches of Baia das Gatas and Praia Grande. Planned championship golf courses are also within easy reach.

All accommodation will be constructed to a five star standard including the interiors which will have state of the art kitchens with granite work tops; there will also be marble/porcelina flooring throughout, jacuzzi baths, floor to ceiling sliding terrace doors, in home entertainment systems, air conditioning etc.

And, to top this off, Fortim Mindelo will provide a wide range of leisure facilities – cool pools with sgnature Nikki opium beds, Nikki’s Satine and Pearl restaurants and its infamous nightclub along with bars, a casino and entertainment centre.

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Cape Verde Attracts Global Brand Hilton Hotels

The arrival of Hilton Hotels, the first globally branded business to place roots in the area, is a major sign of what is going on behind the scenes, with government of Cape Verde looking to attract large global players. While there is no doubt that Cape Verde is still an emerging country these are the signs that show the economy will be now largely driven by tourism. This is where we will see growing interest in the property market from overseas investors looking to be part of what looks like being the biggest mass market newcomer to the industry.

When questioned about this increasing global attention a goverment spokeman said “Cape Verde has become something of a magnet for property investors and tourist trader seeking new hotspots. These previously uninhabited islands have become hot property over the last couple of years, and the announcement that a Hilton Worldwide Resort will open in 2010 has attracted more attention then ever to the area.”

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Cape Verde Villas For Sale-Invest In Virgin Markets

Beautiful villas in Cape Verde offering a unique opportunity to purchase luxury front line beach property at ultra low prices. Properties in Cape Verde are all within easy reach of the stunning Caribbean style beaches and other amenities. The islands of Cape Verde also offer excellent potential to the property investor looking to invest in virgin markets.

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Cape Verde and the EU

While the Cape Verdean government considers membership with the EU, the nation currently holds a ‘special status’ partnership set-up established in January 2007, due to the assistance required and received through its history from Europe, as the country itself provides limited natural resources. Continuing to the present day, the majority of the imports and exports of Cape Verde are connected with the EU, with Portugal looking favourably upon visa applications from Cape Verde citizens.

Over recent years the economy has grown steadily through the service industry including tourism, with an important focus placed upon increasing the industry to gain its place on the world tourism map. With a stable democratic government and a growing economy, investors from both Portugal and Italy, along with growing numbers from the UK are enjoying the benefits of investing in the nation’s strengthening tourism market.

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Unesco provides property investment prospect-Cape Verde a history lesson

In 1456, the Portuguese discovered the Cape Verde islands, some 375 miles off the Senegalese coast in the Atlantic.

For much of this time, many discovering the islands would be doing so involuntarily as part of the slave trade,

Times have changed and a modern cape verde having gained its independence in 1975 from Portugal now welcomes mostly western tourists coming in by plane.

Some of those doing so will arrive at Praia, the modern capital of the country based on the island of Santiago. Given the varied choice of tourist destinations on the islands, some may opt for the mountains in the interior, or head up to the beaches at Tarrafal on Santiago’s northern tip. But others may look to Cidade Velha, where history was made in 1462.

It was here that the city was established by the Portuguese as the first capital city of the islands, remaining thus until 1770, when with the continuing difficulty of defending the location against pirates prompted abandonment of the settlement in favour of a move to Praia.

The ruins of the old city have remained and were recently nominated to become the country’s first Unesco world heritage site.

Taking into account previous nomination’s, this can only further increase tourism to the region and given that the normal knock on effect will be increased trade and demand for bed capacity – Property prices will continue to increase.

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Cape Verde Market Overview

Cape Verde has presented an exciting new market for property investors and holiday home buyers in recent years. Development of the Cape Verde islands is taking place at a rapid yet controlled pace with the release of resort style developments and infrastructure to meet the growing demands of the location. Foreigners are allowed to freely purchase residential property and the interest in the location has expanded rapidly amongst European buyers.
The interest in the market has derived from various factors including the country’s close ties with Europe, especially Portugal. The local currency is linked to the Euro provides stability, with the majority of new developments being sold in either Euros or Sterling. The low property prices are also a contributing factor to the continuously growing interest.
Cape Verde is considered to be a model society amongst African nations, with a stable government and growing economy. The country has been well known amongst Portuguese and Italian holiday makers and has began to appeal to a wider sector of the world tourism market, with tourism figures growing at approximately 25% per annum. The year-round climate and stunning beaches have gained appeal for holiday home buyers and buy-to-let investors, attracted to the high rental yields, rental demand and steady capital growth figures.
Taxes on property purchases in Cape Verde are considered to be moderate, with capital gains, inheritance and gift taxes all levied at a flat rate. The controlled development of the islands has been designed to keep the Cape Verde islands a paradise location of fascinating diversity, ideal not only for the local population, yet also for increased future demand for property re-sales and holiday lettings.

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