Captivating Christmas deals in Cape Verde

by Charlotte Ashton 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.

New Cape Verde trade body to aid property industry and inform overseas buyers

by Charlotte Ashton Cape Verde

It has been announced that a new trade body has been launched in Cape Verde to help the property industry vocalise their opinions with the government and improve the general real estate sector in the country.

The trade body Promitur already consists of 30 members from the developer, agency, financial and legal industries and it aims to grow this further to eventually encompass the majority of the market. The body has various important aims that should prove a positive influence on the sector, such as helping implement infrastructure developments, changes in the law that are aimed at improving the investor market, and acting as a central point for both the overseas industry and those looking to buy property in the country with any queries or problems that they might have.
The founding of an organising body for the Cape Verdean islands is an attempt to authorise and centralise dealings between the property industry and the government and in turn portray the emerging market of Cape Verde as structured and principled. Adrian Lillywhite, Managing Director of property specialists Cape Verde Property agrees:
“The founding of Promitur is excellent news for Cape Verde as it will not only aid those professionals in the property industry with government regulations, it will also act as a point of contact for those clients who are interested in buying property in Cape Verde with any uncertainties they may have and improve the market overall with encouraging infrastructure improvements. All in all, the new industry body should help promote Cape Verde as an excellent destination for property investment and one that is closely regulated and therefore secure.”
For more information on buying property in Cape Verde, please contact Cape Verde Property Ltd on 01753 859233 or visit www.capeverdeproperty.co.uk.

Improved accessibility to and within Cape Verde boosts tourism appeal

by Charlotte Ashton Cape Verde

 

 
It has been announced by Cape Verde news agency Infopress that the end of 2009 will see the first of three new ferry links between the islands of Cape Verde, making the archipelago more accessible to both residents and holidaymakers alike.
 
The investors in the project have been given the go-ahead to test the ferry in the waters surrounding Cape Verde and if successful, construction of the first ferry will begin. This vessel will hold 102 passengers, 16 small trucks and 2 large trucks and shall link the islands of Brava, Fogo, Santiago and Maio, traveling between Brava and Fogo in 20 minutes and between Brava and Praia in 3 hours.
 
The build of the first vessel should take around 12 months and, once ready, the fleet of three ferries will cost around 20 million euros. One will remain in Praia linking Sal with Sao Nicolau, another will link Sao Vicente with the windward islands, and the third will stay on Brava.
 
The new ferries will increase accessibility within Cape Verde and with new flights from the UK scheduled for Autumn 2008 travel times will be reduced. Currently, Thomsons fly on Mondays and Fridays from London Gatwick to Sal and on Tuesdays from Manchester to Sal. From October, however, a new route is planned from London Gatwick to Boa Vista and flights from Birmingham to Sal will be launched in November.
 
Adrian Lillywhite, Managing Director of Cape Verde Property Ltd – the first UK company to market property in Cape Verde – is looking forward to the launch of both the new ferries and the new flight routes “This is a very exciting time for Cape Verde with accessibility set to improve hugely within the next 18 months. New flights to the islands will open the region up to more UK people looking to invest in a growing market with a good climate and the new ferries will improve accessibility no end between islands, allowing people to further explore this stunning archipelago.”
 
For more information on buying property in Cape Verde please contact Cape Verde Property Ltd on 01753 859233 or visit www.capeverdeproperty.co.uk. 

Cape Verde’s Paradise Properties

by Charlotte Ashton Cape Verde

 

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.

Developers respond to currency fluctuations by offering fixed euro rates on overseas properties

by Charlotte Ashton Cape Verde

The desire to own a second property in the sun has not subsided but for those considering purchasing overseas, especially within the euro zone, concerns over currency fluctuations are making some think twice.

 
The pound’s weak performance against the euro over the last few months has forced property developers to review their offerings and many are now giving potential property buyers access to attractive finance deals.
 
On Sal Island in the Cape Verde archipelago for example the 5 star Dunas Beach Resort and Spa and Tortuga Beach Resorts have the euro rate fixed at 1.5 to the pound, resulting in fantastic discounts and also stability when it comes to the strength of the euro.
 
Adrian Lillywhite, MD of specialist agents Cape Verde Property Ltd, comments, “A large 2 bed, 2 bathroom apartment with air conditioning, free legal services and furniture pack in one of these 5 star gated communities can now be purchased from a fixed rate of £98,633, giving a saving of over 16%. This short term offer has been extremely popular and has made buying overseas affordable once more in today’s economic climate.”
 
For more information please contact Cape Verde Property Ltd on 01753 859233 or visit www.capeverdeproperty.co.uk.

Yachting Haven in Cape Verde Heaven

by Charlotte Ashton Cape Verde

 

Recently dubbed ‘Europe’s Caribbean’ by The Telegraph and already famous for being an exotic winter sun retreat and a tropical paradise within easy reach of the UK and mainland Europe, the Cape Verde archipelago is now rapidly emerging as an exciting and affordable destination on the yachting fraternity’s map. 
 
Given Cape Verde’s strategic position and nautical history it should be relatively unsurprising that modern-day sailors are extolling the virtues of enjoying the waters around the islands.  However, just as the islands have been hiding their beauty and environmental diversity under a bushel until recently, so the appeal of sailing the Atlantic Ocean around the archipelago has been something of a lesser known secret until now.
 
Due to Cape Verde’s location off the coast of Africa and en route to Europe, the islands were once an incredibly important trans-Atlantic shipment point.  Additionally it is believed that the unique wind patterns in the region caused sailing ships passing between Europe, the Americas or the East to almost always sail close to the archipelago, and therefore the islands became important ports for ship repairs and provisions requirements.
 
Nowadays the main port at Mindelo on Sao Vincente is more famous as a stop off point for luxury cruise liners.  And whilst the tradition of rum consumption in Mindelo may not have changed since the days when the port was home to ancient sailing ships, everything else about the nautical face of Cape Verde certainly has!
 
Boasting a year round sailing season, ideal wind conditions, warm waters and some challenging sailing conditions between the islands, Cape Verde is becoming increasingly popular with both seasoned sailors seeking fresh horizons as well as those wanting to learn the basics or hone their sailing skills. 
 
And with distances of up to 140 nautical miles between some of the island locations within the archipelago, there is plenty of scope and many advantages to sailing in this part of the Atlantic.  What’s more, Cape Verde is now home to more than one sailing school and multiple marinas are under construction within luxury residential resorts in which keen and amateur yachtsmen and women can moor and take in the delights of the islands.
 
Unlike the Mediterranean which has become famously overcrowded recently, resulting in oversubscription in the most popular marinas such as those along the Costa del Sol where local authorities have intimated that there is a requirement for a 300% increase in the numbers of moorings available just to satisfy existing demand, as yet the waters around Cape Verde remain open, enjoyable and accessible.  Additionally, those who move quickly to secure their berths at the islands’ high-end and exclusive marinas will do well over the long term in investment terms according to Adrian Lillywhite, who’s the managing director at Cape Verde Property Ltd.
 
Mr. Lillywhite recently reported that: “there are many investment approaches that are proving successful in Cape Verde at the moment.  For those simply interested in buying properties to let, rental yields of up to 8% are being achieved easily because there is increasing demand for holiday accommodation, and this demand exists year round.  For others seeking investment diversification, a new opportunity is presenting itself across the main islands of Cape Verde, and this opportunity comes in the form of marina berths. 
 
“We have assisted a number of experienced and savvy investors recently who have recognised the fact that increasingly, Cape Verde is attracting the yachting fraternity.  These investors have been buying up berths in the likes of the brand new, state of the art dedicated marina in Mindelo where a five year lease costs in the region of €18,225 for example, or they have been buying properties and berths within some of the higher end residential resorts under construction where marinas are included within the impressive list of onsite amenities and facilities. 
 
“These buyers consist of seasoned investors, who know that waterside living is one of the fastest-growing trends in the real estate world especially when a marina berth is included, and keen sailors seeking a luxury property and a well serviced berth.  Each purchaser knows full well that they will be able to let and eventually resell their properties to an increasing, affluent and captive market seeking out the fabulous sailing around Cape Verde and requiring a place to moor their craft and lay their hat.”
In terms of some of the high-end residential resorts under construction around Cape Verde which feature marinas, they include: –
 
Cotton Bay Golf and Marina Resort which is on the west coast of the island of Sal and which incorporates two 18 hole golf courses as well as an impressive 354 berth marina.
 
The development consists of a range of real estate from modest apartments which start from €126,000, to fabulous frontline villas which overlook the marina and the beach and are priced in the region of €1.65 million.
 
Pedra de Lume Golf and Marina Resort where construction was officially started when the president of Cape Verde laid the first stone in 2007.  This development is also a major regeneration project to revive a beautiful fishing village and transform it into a five star community consisting of a total of 2,100 property units.
 
There will be seafront villas with infinity pools, four bedroom golf villas, townhouses and one, two and three bed apartments and the resort will include communal pools, a marina, an 18 hole golf course, a luxury spa, numerous bars, restaurants, shops, local markets and five star hotels and commercial areas.  Prices for properties start from €110,000 for a 1 bed apartment and go to €500,000 for a frontline villa. 
 
And for the yachtsperson in search of the ultimate property for sale in Cape Verde how about Tolus Villa in Mindelo on San Vincente? 
 
This unique property is located in an exceptionally elevated and superior position and boasts panoramic views over Mindelo harbour and out to the sea across the new marina.  Tolus Villa has 4 bedrooms, 4 large balconies, a fabulous sun terrace along with an enormous kitchen and living room.  There’s a large art studio on the ground floor along with a playroom, there are two bathrooms and two further WCs as well as a garage, and the total size of this unique property is approximately 450 m/sq.  This property is priced in the region of €385,000.
 
For more information about any of these properties or details of the frontline apartments overlooking Mindelo marina due to be released shortly, please contact Cape Verde Property Ltd on 01753 859233 or visit www.capeverdeproperty.co.uk