(1888PressRelease)
December 02, 2007 - Cape Verde has been making big noises in the Cape Verde property investment industry in recent times, attracting investors as its emerging market status, rising tourist numbers, increasing airport capacity and growing number of flights, including direct services from the UK, have all helped its blossoming appeal.
Property developer Sambala is one of the latest members of the industry to say that now is a good time to get involved, with the national economy growing faster than predicted by the International Monetary Fund, £1.5 billion of private investment set for the country and five-year tax exemption grants on offer to foreign investors all being favourable aspects for investors, reports mortgage strategy.co.uk.
In addition to this, the report notes, Cape Verde also enjoys the status of the best governed African nation in the view of the World Bank. (It has a stable two-party democracy) But it is less its African credentials than its ease of access from Europe that matters, according to Sambala, which notes that these are the closest tropical islands to Britain.
Santiago holiday home property investment is the best prospect of all, according to Sambala Vice Chairman Dominic McGlynn, who said: "Until recently, Santiago Island was beyond the reach of holidaymakers and property investors.
"However, the island's true potential as a mainstream holiday destination and investment hotspot is about to be unlocked."
The key to so much of this unlocking is of course the air access, with the latest example of a connection between the UK and the islands being the inauguration of the Cape Verde Airlines service between Santiago and Stanstead last month. While there might be great appeal in jetting away to the sun, many heading to Cape Verde to stay in a second home or holiday apartment may have pangs of guilt over the carbon footprint involved.
Yet even this angle, it seems, is covered. Paul Collins, overseas editor for property magazine BuyAssociation. Among the beach resorts and golf developments are eco homes, something Mr Collins is convinced will catch on.
He said: "The whole idea of eco tourism has been growing in the last five years anyway and it will carry on growing as people get more and more conscious of their carbon footprint and what impact they have on an area."
Thus Cape Verde may not just be attracting the investors looking for the big returns or the holidaymakers looking for a tropical paradise. The green market may also have a major part to play in the future.
