Property in Cape Verde: 'The New Caribbean', According to Emerging Real Estate

MANCHESTER, England, November 13 /PRNewswire/ -- Cape Verde is being called the 'Caribbean on your doorstep' and it is quickly gaining popularity amongst international investors who can see the potential of real estate in this beautiful country. A variety of properties in Cape Verde are being built around the coastlines of the islands but what are the options and why is the future looking so bright for this small enclave off the West Coast of Africa?

The Cape Verde archipelago, which is made up of nine islands; Santo Antao, Sao Vicente, Santa Luzia, Sal, Sao Nicolau, Sao Tiago, Fogo, Boa Vista and Brava, is Europe's closest tropical island paradise. It shares the same latitude and climate as Barbados, yet it is only 5.5 hours away from the UK and only 1 hour behind GMT.

According to the International Monetary Fund (IMF), the Cape Verdean economy expanded by 10.8% in 2006. Until recently, Cape Verde was beyond the reach of holidaymakers and homeowners, but with the opening of a number of international airports on Sal and Santiago, it is starting to emerge as a significant tourist destination - all of which is great news for early investors.

The Portuguese discovered the islands in 1460 and established the first European settlement in the tropics at Ribeira Grande on the island of Santiago. Half the population of Cape Verde lives on Santiago and the local hospitality and rich culture is evident when touring around the island. Cape Verde gained its independence in 1975, but Portuguese is still the official language and the islands' colonial past remains much in evidence today. A rich African heritage is also evident; from its vibrant music scene and colourful markets to a calendar of lively festivals.

The Cape Verde government has realised that tourism is key to the country's long term success, so The Directorate-General for Tourism Development has drawn up measures to create a Code of Conduct to establish sustainable tourism, which will define objectives for managing resources and establishing competitiveness within the tourism sector.

These factors together with seeing what has happened in the Canary Islands with regard to tourism and increasing property values means investment is flowing into the country - fast. One such example is Nikki Beach, the glamorous US lifestyle brand that has just announced a EUR100 million (GBP67 million) investment in two developments on the islands of Sal and Sao Vicente, which will include a casino and a five star hotel.

Investment options vary from off plan properties to period renovations. One stunning development with strong anticipated rental income and capital appreciation is Cotton Bay Golf and Resort in the Algodoeiro region on the south-west coast of Sal, which is being sold by Emerging Real Estate. The development has been designed with an awareness of the environment and it is bordered by palm-fringed beaches and clear blue seas and enjoys year round sunshine - a true paradise.

Cotton Bay will have 10 key residential areas - all sympathetically designed to reflect the Cape Verdean culture and personality with an emphasis on open spaces and light. Many of the villas in the development will enjoy an enviable front line beach location and will range in size from 120msquared to 350msquared with 2 to 5 bedrooms. There will be 1 to 3 bedroom apartments and duplexes with gardens and terraces on the ground floor, terraces on the first and second floors and a communal swimming pool. Prices start at EUR124,000.

Pelle Langli, chief executive officer of Emerging Real Estate commented; 'Cape Verde is one of the world's most exciting property hotspots. Its close proximity to Europe, as well as its stunning coastline, interior and climate make it the perfect holiday destination. We're extremely proud to be part of such a pioneering and ecologically aware development'

There's no doubt that it's an exciting time for Cape Verde and if development continues, the potential returns for investors look strong.

About Emerging Real Estate:

Emerging Real Estate - your personal guide to buying property in the emerging markets.

As one the UK's leading emerging property investment consultancies, we offer clients a range of services and sound advice by:

- Identifying high quality overseas property investment opportunities

- Offering you exclusive property developments with exceptional value potential

- Assigning you a personal property consultant to work with

- Achieving 98% customer satisfaction for buying property abroad

- Supporting you throughout the property purchase process

For further information Emerging Real Estate can be contacted on +44(0)845-601-7293, info@emergingrealestate.com/ http://www.emergingrealestate.com