Cape Verde
Cape Verde is an archipelago of 18 islands lying 400 miles off the west coast of Africa. The islands have a rich cultural history and are known for their turquoise seas, sandy beaches and warm climate.

Cape Verde economy:
Cape Verde is one of Africa's most successful states. It has a low debt service ratio, an excellent repayment record and its currency has been linked to the euro since 2001, keeping inflation low. In 2006 Cape Verde authorities approved investment projects totalling 300 million US dollars.
 
Cape Verde climate:
Cape Verde benefits from a Caribbean-style climate and enjoys, on average,  360 days of sunshine per year and 10 to 12 daily hours of sunshine. Its average daily temperatures stay between 21ºC and 30ºC, which makes Cape Verde warmer than the Canary Islands. The sea temperature sits between 22ºC and 26ºC all year round.
 
Accessibility:
Direct flights from UK have reduced flying time to 5.5 hours. There are now seven airports across the islands including the brand new Cape Verde International Airport in Praia on Santiago. Direct flights go to Cape Verde from Gatwick, Manchester and Birmingham. As the tourist industry booms, more direct flights are predicted.

Tourism in Cape Verde:
According to the official statistics, tourist arrivals are growing at a rate of 22 per cent every year. It is projected that Cape Verde will reach one million tourists annually by 2015 (up from 83,259 in the year 2000). Cape Verde appeared in Expedia.co.uk's top ten destinations for 2007.

Property in Cape Verde: 
Property in Cape Verde is in its infancy and the resale market is still developing. However, on some of the larger property developments in Cape Verde that have been released in stages, prices have increased by approximately 30 per cent. During 2006, the average property value appreciation on Cape Verde (for coastal property) was 22 per cent. If the Canary Islands are any guide, Cape Verde should be able to capitalise on its year round holiday season appeal. The question is, where in Cape Verde should potential investors purchase their property?

Sal
Sal is the most developed tourist island in Cape Verde. The town of Santa Maria is the centre of tourist attention, though the southern area of Sal is growing rapidly. The island is noted for its beaches and clear waters. Water sports enthusiasts come to surf and dive in the caves and canyons which dot the island. Santa Maria has a range of good restaurants and a picturesque square with shops, restaurants and live Cape Verdean music. In addition, Sal will be the site of two of the five new Nick Faldo and Ernie Els designed golf courses which are being built on Cape Verde to make the islands a world golfing centre.
 
Resort:
SalinaSea and SalinaSand
This frontline aparthotel property complex on Santa Maria Beach will consist of studios and one- and two-bedroom apartments. Facilities include bar, restaurants, pools, jacuzzis, games room, lounges, and commercial areas including some 36 shops and spa.

Professional's opinion:
Adrian Lillywhite of Cape Verde Property Ltd 
"We believe this is a great chance to invest in a top-quality development which is unique in Cape Verde, in the last major location on Santa Maria Beach. The Cape Verde property market is vibrant and two major tour operators have already agreed to rent the development. An opportunity not to be missed."
Prices: from 80,000 euros

Resort:
Tortuga Beach Resort
The Tortuga Beach Resort and Spa development in Cape Verde will be a Tiger Wood's drive from the new championship golf course designed by Major winner Ernie Els. The resort is set on a frontline beach plot, comprising a range of property options - two-bedroom apartments and three, or four- bedroom individual villas with private pools. Facilities include gymnasium, saunas, steam room, pools, bars and restaurants. The resort will be run as an 'aparthotel' with 24-hour reception, concierge and property management services to handle lettings. 

Professional's opinion: Carley Todd, GEM Estates 
"Hotels in Sal are running at 92 per cent occupancy and Airtours and First Choice say that they are 400 beds short per week  based on current demand. Rental potential looks very good for property investors."
Prices:
From 40,950 euros 

Accessibility:
Both developments are close to Santa Maria and the international airport. There are direct flights from Gatwick and Manchester.
 
Boa Vista
Boa Vista is the most eastern island of Cape Verde. It has over 55 kilometres of white sandy beaches. The island is ideal for diving, fishing, and wind and kite surfing. The capital of Boa Vista is Sa Rei. It has a pretty central square, with shops, bars, small restaurants (where you can eat locally caught lobster), and three beaches. The RIU hotel group is about to move into Boa Vista which will open up the island to visitors from around the world.

Resort:
Creola Sands and Sabi Sands
Creola Sands (made up of duplexes and apartments) is located on a beach front site on Cabral Beach. Sabi Sands (comprising studios, villas and duplexes) is situated on a hillside among palm trees, with an ocean backdrop. The development has outdoor swimming pools, restaurants, bars, entertainment areas, gymnasiums, internet cafés, medical facilities,  supermarkets, children's parks and colourful gardens.

Professional's opinion: Carlos Perez, Sands Cape Verde at FM Developments
"Companies are making significant investments in order to bring to market quality property products at affordable prices. An apartment bought at the Creola Sands or Sabi Sands developments is expected to increase in value by 20 per cent each year over the next four years."

Prices:
Sabi Sands, from 86,213 euros. Creola Sands, from 109,525 euros.

Accessibility:
The new international airport will initially fly in Italian tourists, but direct flights from the UK are scheduled to start soon.

Santiago
Santiago is the largest island in the Cape Verde archipelago. Most of the island's inhabitants live in Praia, Cape Verde's capital. Santiago has a spectacular mountainous interior with two large mountain chains. The coastline has numerous sandy beaches, the best being at Sao Francisco and Tarrafal. Praia has 15 foreign embassies and consulates and offers good dining, shopping and upscale hotels.

Resort:
Sambala Resort
The Sambala Resort sits in 20 square kilometres of privately owned mountain valleys and coastline, 20 minutes form Praia. It will include four tourism villages with a selection of property options, including villa and townhouse developments and five-star hotels. Facilities include two 18-hole golf courses, a marina, restaurants, bars, sporting and spa amenities, a diving centre, equestrian centre and watersports. Phase one of the resort, Sambala Village, has sold out. The second phase, Vivendas de Santiago,  comprising 41 villas with swimming pools as well as two- and three-bedroom townhouses, is on sale now.

Professional's opinion: Philip Watson, Sales Director, Sambala Developments
"Santiago's cultural heritage, museums, attractions and coral sand beaches means it has much to offer visitors. The improvements in flight accessibility should have a major impact on the popularity of the resort. Sambala will be the first developer to offer extensive accommodation, and the airlines are waiting in the wings for the first hand-over."

Prices:
from 165,000 euros

Accessibility:
National carrier TACV is about to begin direct flights from the UK to Praia.

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Article published on 17 May 2007