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Why is Cape Verde real estate such a great investment opportunity?
If you are planning to invest in overseas property, you will probably have already heard of the excitement surrounding the emerging Cape Verde real estate market. Cape Verde’s touristic sector is expected to grow at an outstanding rate over the next few years and investors are flocking in to claim their slice of the real estate pie. So, what makes Cape Verde real estate such a fantastic opportunity for investment?
The best thing about the Cape Verde archipelago is the sheer stunning beauty of the islands and their varied landscapes. Imagine majestic mountains surrounded by valleys of lush green vegetation. Or picture marvellous volcanic formations contrasting with gorgeous beaches of dazzling white sand and welcoming azure waters. This unique environment and a lovely temperate climate all year round are the most basic reasons why Cape Verde real estate is such a prime property investment. But, of course, there are many more :
- Cape Verde is the closest tropical archipelago to Europe and has a huge potential for tourism growth. It is set to become a top vacation hotspot and is already being referred to as the ‘new Canaries’.
- The islands are well connected to many major European cities (including Lisbon, Madrid, Milan, Munich, Amsterdam and Paris). Direct flights from the UK will be introduced in late 2006, promising to bring an even greater influx of British tourists to Cape Verde.
- There is plenty of opportunity for real estate buyers to purchase off plan and so acquire property in prime developments at extremely cheap prices.
- Cape Verde is right at the very beginning of a real estate boom and prices are expected to increase by as much as 70% over the next 24 months.
- As more and more holidaymakers arrive to the islands, Cape Verde real estate owners can expect a consistently high rental income that will further increase their return on investment.
- The government of Cape Verde is at the forefront of the drive to boost the country’s economy. It is offering huge incentives for foreign investors, including a 5-year total tax exemption, followed by a 50% reduction on corporate tax (which is currently 30%) during the following ten years.
- At the same time, the local government is also aware of the need to safeguard and protect the natural beauty of the islands by making sure that development is sustainable and adequately regulated. It has put several measures in place for this purpose, including the limiting of frontline constructions to just one storey in most areas.
No serious overseas property investor can afford to ignore the immense potential of the Cape Verde islands. The initial surge of development means that there is currently an extensive range of new properties to choose from and this has pushed prices even lower still.
Once the rate of development slows down and the demand for property increases, prices are bound to soar. In other words, there will never be a better time to invest in Cape Verde than right now!
Take a look at some of the fantastic properties we have on offer at extremely affordable prices and see for yourself.