In Cape Verde, you will no doubt be enthused by the fact that things are looking very good for the property market in the beautiful, idyllic country. Property prices in Cape Verde were depressed for a few years following the global housing crash of 2008.
Since then, the property market in Cape Verde has rebounded, no doubt because of the deep interest shown in Cape Verde by a new class of foreign investors – high net-worth business executives from the US, Europe, Russia and China, who are looking for a second home or a vacation home in politically stable countries such as Cape Verde where you find natural scenic beauty.
Cape Verde has always been a terrific tourist destination, and many foreign tourists who come here are so happy about the place they wish to take their love for Cape Verde a little further, by staying on for a much longer duration by buying a home here.
There has been a 9 percent growth per annum in property prices in Cape Verde over the last few years, and the rental yields are growing at an even faster pace. Clearly, Cape Verde is one of the few African success stories. Property in Cape Verde will always be much admired and sought after and will fetch a very good price.
As a real estate executive who markets Cape Verde to high-net-worth individuals from China says, “Prices [in Cape Verde] are much lower than in comparable areas of the world, such as the Caribbean or the Canaries. Cape Verde’s proximity to Europe and year-round sunshine means it is a good market for holiday rentals, with the climate, in particular, allowing owners to “maximize returns.”
When you are looking to sell property in Cape Verde, you have to remember what made you chose to buy property here in the first place. Buying property in Cape Verde is a lifestyle statement. You don’t go to Cape Verde to earn a living or work at a job.
The other thing that is important about selling property in Cape Verde is the price, which depends on the location. The right price makes all the difference, so you shouldn’t make the mistake of overpricing the property.
Furnished properties sell for a lot more than unfurnished ones. This makes sense because property in Cape Verde is a second home or a holiday home – not a primary living space. So buyers prefer homes that come furnished, which means they don’t have to take care of the furnishing themselves as that would be quite a bother.
The only real estate agents you find in Cape Verde are actually international real estate professionals who sell to a worldwide market. Russians form the majority of the foreign buyers of property in Cape Verde. In fact, 80% of the foreign investment in Cape Verde property comes from Russia. So it makes a lot of sense to hire a real estate agent who is Russian or has extensive connections in Russia.
Finally, how you dress your property is very important. Get a professional photographer to capture your property on camera and use the photographs for marketing purposes. Your information about the property, which will be displayed on several real estate portals should have as much relevant information about the property as possible. The presentation of the property is everything and makes all the difference between getting a great price for it or not.
If you need great advice on how to sell property in Cape Verde quickly and safely to high net-worth overseas property investors from the US, Europe, Russia, China, and around the world, do contact us