Cape Verde transformation set to attract property investors

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Cape Verde has been identified as one of the world’s most reform-minded countries, which has contributed to West Africa’s positive image and could be set to entice emerging property investors.

During recent years, Cape Verde has played a massive role in creating a positive image of West Africa, according to the 2012 Doing Business Report produced by the World Bank Group.

The report states the increasing strength of the tourism industry in the island has influenced the popularity of Cape Verde.

Feltrim International, specialist Cape Verde property agents, has said the location of the tropical island and its no off-season appeal has made it a popular alternative holiday destination.

Adam Cornwell, Managing Director of Feltrim International, said: “Cape Verde’s tourist industry has huge potential. These are the closest tropical islands to Europe, less than six hours flying time to the UK with little or no jetlag, making them a credible winter sun alternative to the Canary Islands but far more affordable.

The island, previously recognised for its inaction and poverty, is gaining a new image as a dynamic element to the tourism sector has been added and has instigated strong growth in the tourism industry.

Cornwell continued: “In 2011 in excess of 475,000 tourists visited Cape Verde, only about 100,000 shy of its native population, and by 2015 one million arrivals are envisaged. This is fantastic news for emerging market property investors.”

According to the office of State Reform in Cape Verde, the business environment and improved stability is appealing to foreign investors avoiding the current crisis in more traditional markets.

Transferring money to Cape Verde

If you are looking to invest in Cape Verde, think carefully about how you will send money there. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Cape Verde – which is probable if you are intending to make a property investment, be sure to compare the market before you buy your overseas currency.

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Cape Verde transformation set to attract property investors

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