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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