Cape Verde Investment: Economy
When considering Murdeira, Pedra de Lume, Sal Rei and Calheta, which dominate the Cape Verde real estate market, those planning investment in Cape Verde property and land will be interested in Cape Verde's economic performance. Cape Verde's economy is currently strong and in 2006, the World Bank named it as ‘the best managed African economy in 2006'. GDP growth is averaging between 6% and 7% annually and with huge government investment, Cape Verde's economic future is promising.
As well as investment from domestic sources, Cape Verde is also a major recipient of foreign investment, which increased by a huge 60% in 2006. Several countries including the UK are set to make large-scale investment in Cape Verde.
Cape Verde Investment: Tourism Potential
Tourism is a vital factor for property investment in Cape Verde and although Cape Verde has a young tourist industry, it is already showing some impressive statistics. Visitor figures grew over 15% between 2004 and 2007, and the Cape Verde government aims to reach the figure of 1 million by 2015. Several islands have been designated as priority for tourist development and this includes resorts such as Murdeira, Pedra de Lume and Sal Rei. Cidade Velha, Mindelo and Porto Novo resorts are also earmarked. Cape Verde homes in any of these resorts, but particularly Murdeira and Pedra de Lume, are prime investments.
Cape Verde Investment: Property Market
The Cape Verde property market is currently young, but despite the recent emergence of Cape Verde property investment, Cape Verde properties have already shown promising gains. Cape Verde islands offer several luxury residential areas where prices, particularly in off-plan Cape Verde developments, have experienced promising increases. Cape Verde property in locations such as Murdeira, Pedra de Lume and Sal Rei offers good buy-to-let opportunities.
