Massive Investment is Driving Cape Verde Real Estate Market
Apart from the natural beauty and surroundings what is one of the main factors pushing the Cape Verde real estate market forward?
Over the past year or so and continuing into the foreseeable future the cape Verde Islands are receiving huge government and private investment.
The government know that tourism growth is and will have a very positive effect on economic growth and has given licence to over 100 projects with a total capital of $416 million invested in hotels, residential resorts and other tourism-related construction: through the third quarter of 2006, tourism exports almost doubled and Foreign Direct Investment increased by roughly 60 percent compared to the same period of 2005.
The government have also been investing in infrastructure and the improvement of external transportation links.
The tourist sector is quickly increasing with an influx of people coming for a variety of European countries. This growth can be attributed to the massive growth in foreign direct investment (FDI).
The predicted excellent capital growth on properties hitting as high as 30% for certain properties and the year round rental potential along with the huge investment is attracting an increasing number of investors and means that the cape Verde real estate market shows no sign of slowing down.
All this investment is helping to boost the property market and attracting an increasing number of foreign property buyers looking for both holiday homes and investment properties.