Captivating Christmas deals in Cape Verde
With the nights drawing in and temperatures dropping it’s no wonder that many of us dream of spending the British winter in tropical climes, where the sun shines and temperatures rarely fall below the mid 20’s˚C. But in today’s challenging economic climate, is migrating south in search of winter sun still a realistic option?
For many destinations, such as the Cape Verde islands located 300 miles off the west coast of Africa, the months of October through to April are the peak tourism season with hundreds of thousands of north and west Europeans flocking to the former Portuguese archipelago of 10 islands. Tourism to the islands has been growing at a rate of over 15% between 2004 and 2007 according to the Millennium Institute and some experts believe that 1 million tourist arrivals a year can be achieved by 2015.
Adrian Lillywhite, MD of specialist property agency Cape Verde Property Ltd, comments, “The interest in Cape Verde as a holiday destination is certainly not waning. With charter flights from the UK frequently full and new hotel complexes such as the Riu on Boa Vista due to open next month the demand is clearly there. This in turn is having a positive effect on the island’s property market; a new €2.2 billion resort on Boa Vista has been recently announced for example indicating the confidence that developers still have in the market despite the current global financial situation.”
Indeed some developers are going one step further and offering attractive deals to those who are interested in purchasing a second property on the islands this winter. Adrian Lillywhite gives a round up of some of the best bargains available:
For those on a tight budget, the three studio apartments remaining on the award winning Vila Verde development in Sal just 300m from the white sandy beaches of Ponta Preta beach are a bargain at only £41,481. The 42m/sq ground floor apartments with a 9 m/sq terrace and communal swimming pool will be completed in December 2008.
If spreading your payments is of more interest then consider the frontline Leme Bedje apartments situated in the eastern area of Santa Maria town, Sal. These one or two bedroom apartments offer tremendous rental potential due to their premium location and a pay 50% now and 50% in 5 years interest free option is available on off plan properties (due to complete in mid 2009) priced from £95,800.
If you are ready to buy but are concerned about fluctuating exchange rates and the future performance of the pound against the euro then take advantage of the fixed exchange rate offered on the Dunas Beach Resort & Spa properties. The developer is offering a guaranteed euro rate of 1.4 to the pound, significantly more than today’s market rate of 1.25. Located just 12 minutes from Sal’s international airport on Ponta Preta beach, this premium development offers a variety of one, two and three bedroom apartments as well as three and five bedroom villas from £71,710. Free inspection visits to the Dunas Beach Resort & Spa are also available.
The availability of mortgages now in Cape Verde presents another option for potential purchasers. The Creola Sands development on Cabral beach, Boa Vista for example offers 85% mortgages on the beachfront apartments and penthouses as well as guaranteed rental of 5% for 2 years. The apartments with large terraces and direct ocean views will be completed in 2009 and are ideal buy to let investments; priced from £67,670 these properties will also come with a top quality furnishing pack.
If space is what you need then consider the largest island in the Republic of Cape Verde, Santiago, home to Praia port which is currently undergoing significant expansion, where the Vila Jardins do Oceano complex is offering a 15% discount on all villas for a limited time with just 15% deposit and no more to pay until completion. This exclusive frontline development comprises just 40 two and three bedroom villas all with superb ocean views as well as individual swimming pools. Vila Jardin do Oceano is located on the south coast of Santiago just a short distance from the historic city and UNESCO World Heritage Site of Cidade Velha. Prices for a 2 bedroom villa start from just £202,725.
Adrian Lillywhite concludes, “The Cape Verdean property market is still buoyant with numerous deals available for canny investors. It would be naïve to suggest that the islands will not be affected at all by the global credit crisis but with Cape Verde being recently given another positive evaluation by the International Monetary Fund (IMF) and growth projected at 6% to 7% in 2009 by Cape Verde’s Finance Minister, the future is positive.”
For more information on these or any other excellent bargains available on the beautiful Cape Verde islands please contact Cape Verde Property Ltd on 01753 859233 or visit www.capeverdeproperty.co.uk.