Cape Verde

Boasting a European-feel and African climate, the Cape Verde Islands are a unique coming together of two continents; a juxtaposition that has resulted in a distinct culture and laid back way of life. These beautiful islands also have a very unusual landscape, with the terrain changing from lush and verdant to dry and rocky seemingly at will.

With a short flying time from mainland Europe, minimal time difference and a government and legal system based on that of Portugal, it was only a matter of time before Cape Verde became an attractive destination for overseas property speculators. The island of Sal is the most developed currently, offering the best transport infrastructure, the widest choice of property and perhaps the most diverse scenery, yet Santiago is also gathering steam as an attractive investment and tourist destination. With a stable economy, a currency pegged to the Euro and a government making all the right noises, Cape Verde has never looked so promising.

Capital: Praia
Population: 500,000
Time: GMT -1
Dialing: 238
Currency: Cape Verdean Escudo (CVE)

Climate: Across all ten of the islands, the average temperature is a pleasant 26ºc all year round, with slight upward fluctuations in the summer and downward fluctuations in winter. There is also very little rainfall on the islands, making them ideal winter sun destinations for Europeans and very real contender to the Canaries’ crown in the coming years.

Getting There: The UK now has upwards of six flights a week to the island of Sal, primarily from Birmingham but also occasional routes from Gatwick and Manchester too. Alternatively, take any number of low cost flights to Lisbon, Portugal, and then you can fly directly to Santiago, Sal and Boa Vista from there.

Special Features: Two hours south of the Canary Islands, Cape Verde has a hotter and drier climate than its northern neighbours; Cidade Velha (the ‘Old City’) on Santiago is classified as a World Heritage Site.

Buying Property in Cape Verde: The Cape Verdean property market has displayed a number of pointers over recent years which suggest that it is set to become a viable lifestyle alternative to the Mediterranean and the Algarve, and is already an investment alternative to Morocco, Egypt and Eastern Europe. With the government pledging to spend over €15 billion on tourism infrastructure in the coming years, and a number of large Spanish and Portuguese developers commencing projects there, the future of the Cape Verde property market is secure.

Currently, tourist figures lag way behind the Canary Islands, but that is changing daily, as more and more air routes open up there and Cape Verde’s profile increases. With low property prices – a two bedroom, new-build apartment on Sal or Santiago can cost as little as €100,000 – and minimal time difference, Cape Verde is well placed to attract small UK and European businesses, investors and lifestyle buyers. With a stable year-round climate, a growing infrastructure and real estate law based on the Portuguese model, investors have little to fear about Cape Verde’s bright future.