Real Estate Ads

Articles

WebLinks

The Republic of Cape Verde, is a republic located on anarchipelago in the Macaronesia ecoregion of the North Atlantic Ocean, off the western coast of Africa. It is formed by 10 main islands and about 8 islets. All islands are volcanic, but an active volcano only exists on one of theislands, Fogo. The previously uninhabited islands were discovered and colonized by the Portuguese in the fifteenth century (though there may have been earlier discoveries), and attained independence in 1975. Cape Verde is in the tropical zone. Average temperatures range from 24 °C (75 °F) in January and February to29 °C (85 °F) in September. The climate is arid, but Cape Verde's position inthe Atlantic contributes to soften the aridity, that otherwise would be the same aridity as that in continental areas. The population of Cape Verde is just less than a half a million people.

This island’s economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-termdrought. The economy is service-oriented, with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. Although nearly 70% of the population lives in rural areas, the share of food production in GDPis low. About 82% of food must be imported. The fishing potential, mostlylobster and tuna, is not fully exploited. Cape Verde annually runs a high tradedeficit, financed by foreign aid and remittances from emigrants; remittances supplement GDP by more than 20%. Economic reforms are aimed at developing theprivate sector and attracting foreign investment to diversify the economy. Future prospects depend heavily on the maintenance of aid flows, the encouragement of tourism, remittances, and the momentum of the government's development program.

During the 1980s Cape Verde experimented with an economic citizenship (second passport) program according to the PT books written by Dr W.G. Hill, but this program never achieved success and was cancelled in 1990. 

In the real estate sector, there is a great amount of optimism invested in the country, with realtors offering realistic gains of 15%-20%, and with so much high end foreign investment being poured into the country – most notably as luxury developments – it is not hard to foresee thehuge increase in popularity this small group of islands will be seeing. However, the property market is still in its infancy so prices are still attractively low with rises due imminently. However, being such a young market there is little market history and risks are more of a real concern.

Offshore World Resources for Cape Verde:

Cape Verde Property Portal (external real estate link)