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21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
Cape Verde: Property Investment Potential 2008
The property investment potential in Cape Verde has recently become very clear. Cape Verde was chosen as one of Channel 4's "20 Best Places to Buy in the Sun" and described as the "next potential holiday hotspot" by the BBC's Holiday programme. Situated 300 miles off the west coast of Africa, the Cape Verde islands are the closest tropical islands to Europe - just over 5 hours flying time from the UK - and the government is investing heavily in infrastructure and tourism.
Cape Verde Tourism Growth
For property investors in Cape Verde, the good news is that tourism is big business and the government is committed to low density development and environmentally friendly practices. The period 2004 to 2007 saw tourism growth of 15.6% with projected annual growth at around 22%. Expedia, the internet travel company, reported that Cape Verde was one of their top holiday destinations for 2007 and this increasing demand will fuel a booming real estate industry and result in a wide range of projects available to foreign investors in Cape Verde.
Cape Verde - Strong Economic Growth
The International Monetary Fund (IMF) reported that Cape Verde's economy remains sound with GDP in 2006 and 2007 standing at around 7% and the economic outlook is promising. 2007 saw around £400 million of foreign direct investment into the country, particularly on Cape Verde's most popular island for tourists and property investors - Sal Island. Much of this investment has gone into improved facilities such as golf resorts and high end hotels.
Property Investment in Cape Verde
There are no ownership restrictions for foreign property investors in Cape Verde and there is an increasing number of mortgage options available from Portuguese lenders with a typical loan-to-value of around 80%. With plenty of very affordable property and all the characteristics of a boom market in the making, Cape Verde is set to become one of best property investment locations worldwide.
Complimentary Property Investment Report
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