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 GDP forecasts for 2008 and 2009 are 7.6% and 7% respectively. In 2007, Cape Verde graduated from Least Developed Country status and 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 reached US$715 million in 2007. Several countries including Spain and the UK are making 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. Tourism accounts for nearly 28% of the country's GDP and visitor figures grow annually with the Cape Verde government aiming 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. For more information, click here for the Cape Verde Property Investment Guide.
