Cape Verde Property & Land Sales
 Real Estate Agent 

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Cape Verde Property and Land Workshop Feb 2012
Cape Verde Property and Land Workshop May 2012

 Cape Verde has made a huge leap forward in the last few years and it is now very much on the map for property investment. The jurisdiction is an amazing place and it is still at the very early stages of development.  Cape Verde offers real opportunities for investors and businesses.

The islands of Cape Verde have very different characteristics and are great to explore. The wonderful culture and music offers a real alternative to standard European holiday destinations. The promise of all year round sun makes Cape Verde very special.

The development story of Cape Verde dates back to 1975 when the country became independent from Portuguese rule.  In 1990, Cape Verde became one of the first African countries to abandon single-party rule and embrace multi-party democracy. In 1993, the Cape Verdean parliament voted to allow foreigners full rights to land and since then investment has flowed into the country.

Substantial investment in infrastructure, partly funded by the World Bank and the European Union, allowed Cape Verde to build 3 new international airports.  This has had a huge impact on the level of tourism to the islands.

In the early days the main interest came from the Italians, Portuguese and Spanish.  Many of the early developers and business owners in Cape Verde were Italian. Our Director, Marco Pietropoli who is half Italian, saw the opportunity to market property and land to the British and Irish market.

Following a show on the “Place in the Sun” program on Channel 4 in February 2005, there has been an explosion of interest from British and Irish investors.  This resulted in very significant capital inflows, which has transformed Cape Verde into an established property market.

This extra demand for property forced up prices quite rapidly; as the supply of good quality property was very limited in the early days.  Many new developers and property agents joined the market and Cape Verde enjoyed quite a boom for a couple of years.

Since the global economic downturn, demand has fallen and prices have come down quite significantly. It would be probably fair to say that the Cape Verdean property market became a little over heated for a while. Now property prices are much more in line with what they should be.

It is definitely a buyer’s market at present. For those investors that have the funds, or have access to credit, Cape Verde offers fantastic opportunities.  Silly offers for property or land may well get accepted in the current climate.  

RM Development Services Ltd. (RMDS) covers property and land investment on all of the main Cape Verde islands.  In the early days off-plan developments were the main opportunities, as the existing housing stock was very limited and being sold at a premium. 

Now, the property market in Cape Verde is far more established and there are far more completed units available.  Also, due to the economic climate, significant numbers of distressed resale properties are now on the market.

Many of the houses and apartments for sale in Cape Verde will be brand new and may not have been lived in at all.  Contact us for more information.