Are you wondering if you should be selling property in Cape Verde as soon as possible? Is this a good time to be selling overseas property? Let’s find out!
There is a lot of demand for properties in Cape Verde right now. This archipelago has emerged as a top overseas property destination in Africa. Cape Verde is seen by many as a much cheaper but better version of Sharm-el-Sheikh in Egypt.
It’s no surprise then that properties in Cape Verde are priced between $100,000 to $250,000. This is the fastest-growing property market in Africa.
Indeed, we get inquiries from rich, high net worth Russians, Americans, Australians, Chinese, Scandinavians, Brits, Irish, and other Europeans about properties in Cape Verde. So, if you are selling property in Cape Verde, there is every reason to believe that you’re going to get good value for it.
There are many reasons why the property market on this archipelago is thriving. Here are 4 facts about the Cape Verde real estate market.
#1: Cape Verde is one of the hottest tourist destinations in the world right now. It has everything going for it and receives millions of visitors every year from across the world. It has a very profitable rental market.
You can make a lot of money by renting out your property to foreign tourists in this archipelago. The buy to let market here will only continue to grow and that is good news.
#2: Most of the properties in Cape Verde are situated in the vicinity of resorts. These are high end properties that are much in demand. This is a great place to be buying or selling overseas property. There is a lot of money to be made in the Cape Verde property market, either as a buyer or a seller.
#3: Cape Verde is one of the most bio-diverse regions on the planet. What the Cape Verde government has done very well is to protect this stunningly beautiful natural archipelago from overdevelopment or over construction.
That explains why you don’t have construction crews everywhere you go in Cape Verde, unlike other overseas property hotspots. The government here only allows low-level or low-density housing projects.
#4: Cape Verde has a fast growing economy. This year, the nation’s GDP growth was 3.4%, up by 20 basis points on a year-on-year basis. While tourism remains the staple of the Cape Verde economy, the government has been working hard to diversify and find other sources of employment for the people.
According to Aicep Portugal Global, an agency hired by the Government of Cape Verde, “The performance of the Euro Zone – on which Cape Verde is heavily dependent in the areas of trade, tourism, foreign investment and emigrant remittances – will slow down, which will lead to lower growth in the services sector, the main driver of the Cape Verdean economy.”
That’s why, “the policy of the Cape Verdean government will continue to prioritise infrastructure development, using public investment and foreign investment flows, improving the efficiency of the public sector and combating unemployment,” Aicep Portugal Global said.
All of this is good news for those considering selling property in Cape Verde. Contact us for help with selling overseas property.