Cape Verde’s Paradise Properties
Cape Verde has become synonymous with the word ‘affordable’, because in terms of its property prices, its holiday resort costs and also the cost of living on the islands that make up the archipelago, it is certainly far from an expensive destination. However, the word affordable has ‘cheap’ connotations and the use of the word has undertones of low quality and intimations of lesser value – yet to suggest that there is anything cheap about the development and controlled and intelligent emergence of this incredible destination is wholly inaccurate and totally inappropriate.
Whilst Cape Verde is certainly affordable in relative terms when you hold it up for comparison alongside those which are destined to become its equal rivals such as the Caribbean island of Barbados perhaps, it is certainly not a low quality, lesser value destination. As the development of the islands, their infrastructure and the tourism and mixed use residential and commercial property developments progresses and the master plan for the nation becomes closer to complete realisation, so real estate values are beginning to reflect the fact that given time, the government as well as private investors with million dollar stakes in Cape Verde foresee the likes of Sal, Boa Vista, Santiago and Sao Vicente becoming direct rivals to Caribbean islands for tourism and luxury real estate demand.
The emergence of Cape Verde as a high-end tourism and property destination is no accident. Private investors are working with the government to channel over £1.5 billion worth of investment into the islands over the next five years; within ten years the landscape of the likes of Sal will be transformed from untouched and pristine blank canvas to include stunningly landscaped golf courses, marinas, five star hotel resorts and low rise, low density, high-grade property developments, and according to leading international real estate experts such as Savills, the best developments represent at least a ten year window of potential capital appreciation opportunity for investors.
Adrian Lillywhite, Managing Director of Cape Verde Property Ltd and an expert commentator on the progress of development in Cape Verde concurs: “people assume that Cape Verde’s ‘discovery’ and development has been an accident – this is far from the truth. There is a blueprint for the development of the islands to become direct rivals to the Caribbean. Everything is being done to ensure that this year round, sun kissed archipelago – which is home to the closest tropical islands to the UK and Europe, which are warmer and certainly more remarkable than the Canary Islands and a good deal nearer and attractively priced than the Caribbean – becomes a high end, long-term, sustainable destination for tourism and luxury grade property.”
“You only have to look so far as the Hilton Group which is developing a sybaritic resort on Sal – they are marketing it as pure five star opulence and they are following hot on the heels of the American luxury hotel and leisure brand Nikki Beach which has already committed to projects on Sal. The group is developing a resort and it is also involved with one of the most exclusive developments to get underway on the island already, namely Paradise Beach.”
Because Cape Verde is being developed from the ground up, right now investors have the opportunity to be cutting edge and enter the market at the point from which the longest period of positive price appreciation potential is predicted. Additionally, those who want an opportunity to acquire stunning, high-grade homes at possibly the last point before which they lose their ‘affordable’ label should look at the opportunities available in Cape Verde today. For example, within the aforementioned, sold out Paradise Beach resort, a stunning five bedroom, frontline villa has come back to the market due to unforeseen and forced owner circumstances, and an investor or high grade home seeker in search of a fabulous real estate deal within the ultimate emerging market of potential that is Cape Verde has the chance to secure this truly inimitable property for the ‘bargain’ price of just €700,000. The large and impressive villa property with private pool includes a separate nanny flat, double garage and boasts breathtaking sea views. For more information please contact Cape Verde Property Ltd on 01753 859233 or visit www.capeverdeproperty.co.uk.