Nov 122009

Today, property in Cape Verde represents exceptional value for money, with a number of high-quality new developments available for a fraction of the price you would expect to pay in the Mediterranean or the Caribbean.

Whether it is the island of Sal, Santiago, San Vicente or Boa Vista, everywhere in Cape Verde offers an excellent climate, an awe-inspiring landscape and a wonderful selection of properties, be they apartments, villas or traditional townhouses.

cale verde islands

10 islands off the coast of west Africa forming The Republic of Cape Verde

Cape Verde Profile
Capital City: Praia
Area: 4,033sq km
Population: 420,979
Time Zone: GMT +2
Country dialing code: +238
Currency: Cape Verdean Escudo

Cape Verde Climate
Due to its location in a tropical zone, Cape Verde’s climate differs little throughout the year, with temperatures in the mid-20s (celsius) prevalent throughout the year, although it is slightly hotter between January and March. September is the wettest month, and can get very wet – up to 50mm of rainfall can fall during the month, while April to July will see scant, if any, rain.

Cape Verde Property
With no jetlag, a wonderful climate and quick and easy access to Europe, property in Cape Verde is rapidly becoming an appealing prospect for a number of property investors. To purchase property on Cape Verde, it is recommended that you employ an independent solicitor who is well-versed in Cape Verde property law and speaks your language. The solicitor will carry out land and title searches on your chosen property or, if buying off-plan, ensure that a valid habitation permit and conveyance are present and correct.

It is advisable to appoint power of attorney to your solicitor in case there is any paperwork that needs signing and you are not present on the island – this saves time and travel costs. Once all checks have been passed, you will then sign a Promissory Contract of Purchase and Sale, and then pay the negotiable deposit (anywhere between 10% and 30% is considered normal). All taxes are also paid at this point, and you are contractually bound to proceed with the purchase or lose your deposit. A final deed of conveyance – ‘Escritura’ – will then be signed before a notary and then the property can be registered (registration fees are 2.5% of the purchase price).

Property prices in Cape Verde differ from island to island, although properties on Sal and Santiago – although generally priced higher – are often the work of large Portuguese or Spanish developers, offering assurances of quality. Expect to pay in the region of €120,000 for a beachfront, two-bedroom apartment on these islands, with prices rising up to €600,000 for detached villas.

Cape Verde Flights
The low-cost flight industry is beginning to see the value in scheduling a regular service to Cape Verde, with easyJet, Monarch and Ryanair all set to open up routes there from many of the larger UK and Irish airports. British Airways has twice weekly flights from Gatwick to Sal and once weekly flights from Gatwick to Boa Vista.

 2:59 pm  Property

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