Entries Tagged 'Cape Verde' ↓

I would like to share with you an article I read recently in Tenerife News - the leading English newspaper provider in the Canary Islands. The article outlines the benefits from investing in the property market even in these troubled times.

I will share with you the conclusion of the article but it is well worth reading the whole article, by Financial Correspondent - Blevins Franks.

In times of heightened volatility and greater uncertainty, it is even more important to maintain investment discipline. In particular, diversification ‘ across asset classes, regions, investment styles and securities ‘ maximises the chance that investors will participate when asset prices recover. It can also provide some protection should some asset classes experience further falls.

A globally diversified REIT fund offers the opportunity to obtain exposure to non-domestic markets, which can offer varied return characteristics. Real estate cycles in different markets and sectors are driven to a large extent by local factors such as gross domestic product growth, taxation policies and government initiatives. A globally diversified fund therefore provides greater stability for investors and a wider opportunity set for active managers than would be available in a single market/region.

If you have Real Estate as part of your portfolio, this is the time to maintain investment discipline; if you do not, perhaps this is the best time to take a closer look at this asset class.

Our top locations for investment properties:

• For properties in Tenerife, click here.

• For properties in Cape Verde, click here. If available, view the Due Diligence packs provided that outline estimated ROI. e.g. Our 2 bed apartment, Dunas Beach Resort, Sal, Cape Verde.

Hi everyone,

Just to keep you up to date with the latest availability for properties on Dunas Beach Resort - Sal, Cape Verde. All prices indicated have recently been heavily discounted by the developer.

• 3 bed garden apartment (Block 10) - €204,950
• 2 bed apartments (Block 7) - €209,950
• 2 bed upper penthouse (Block 7 upper floor) - €219,950
• 2 bed lower penthouse (Block 10 lower floor) - €214,950
• 2 bed garden apartment (Block - €199,95

Site plan - click to enlarge

For information on the Cape Verde Islands, view our blog entry or visit the Cape Verde’s homepage on www.dwood-property.com

Hi everyone,

Just to keep you up to date with the latest availability of properties on Tortuga Beach Resort - Sal, Cape Verde. All prices indicated have recently been heavily discounted by the developer.

• 3 bed detached villa (Type B villa) - €439,950
• 2 bed corner apartments (Type F apartment) - €199,000
• 2 bed, 2 bath apartment (Type D apartment) - €170,000
• 2 bed, 1 bath apartment (Type C apartment) - €170,000
• 2 bed, 1 bath apartment (Type E apartment) - €145,000
• 2 bed, 1 bath apartment (Type G apartment) - €145,000

Feel free to refer to the plan below by clicking on the thumbnail image for locations of each property type and please keep a note of the property type when making an enquiry.

Please click to open the full-size image.

No, there is no error in the title! The developer really is offering this to anyone wanting to buy property in Cape Verde. Take a look at their properties on offer in Creola Sands and Sabi Sands located on the beautiful island of Boa Vista.

The prices for the deposit including the Exchange Bond fee for the 1^st phases on both Creola Sands and Sabi Sands have been confirmed…

Prices for deposits are as follows:

• Studio €7,500
• 1 Bed Apartment €10,000
• 2 Bed Apartment €15,000
• 3 Bed Apartment €20,000
• Villa or Townhouse €25,000

There are only a handful of properties left to buy on the fantastic Tortuga Beach Resort. As a last minute special offer, the properties have had a HUGE 100,000€ cut off the purchase price - was 284,950€, now 184,950€. Read below for the latest and final special offers on purchase terms.

2 Bed apartment - Living room

We are absolutely delighted to inform you that new payment options / offers are being made available for all remaining properties on Tortuga Beach Resort & Spa, Sal Island, Cape Verde.

Before you read the details, here are a few reminders of some of the fantastic features and benefits that have made Tortuga one of the fastest selling Resorts in the history of Cape Verde.

·  Stunning beach-front Resort on one of the best undeveloped white sandy beaches in the world

·  Density of less than 25%

·  Luxury detached Villas with private pool and garden

·  Luxury 2-bed Apartments with communal pools and relaxation areas

·  Luxury 5-Star Hotel with facilities and amenities large enough to cater for the whole Resort. Purchasers will be able to rent their property via the hotel itinerary.

·  Hotel operator to be announced soon. Will be a world renowned hotelier with an awesome ability to attract guests via a huge worldwide network of reservation systems, vast numbers of travel agents and close links with the major tour operators. Rental potential for Purchasers will be massive and the hotel will do all the work!

·  Concierge service

·  Exquisite restaurant

·  Elegant wine bar

·  Relaxing piano bar

·  Luxury spa with state of the art equipment and treatments

·  Expansive gymnasium

·  Shops

·  Fantastic capital growth potential in one of the world’s most up and coming property hotspots!

Now let’s look at the special terms available. In summary, with regard to the payment of the deposit, two new ‘Special Payment Options’ (1 and 2) have been launched and Purchasers can choose whichever one best suits their circumstances. The beauty of choosing one of these two new ‘Special Payment Options’ is that the Purchaser can then also choose any one of the two ‘Special Completion Offers’ (A or B) available, Purchasers will enjoy either a massive 10% cash back on completion or alternatively a guaranteed rental income for 3 years of 6% per annum.

Purchasers, at their choice, can match the best ‘Special Payment Option’ and the best ‘Special Completion Offer’ to suit their need. Read on for more details …

Special Payment Option 1 - Low staggered payments

· Reservation fee of €3,000

· 20% payable on contract

· 15% payable 6 months after contract

· 15% payable 12 months after contract

· 50% (less the reservation fee) on completion

OR …

Special Payment Option 2 - 100% Finance until completion

· Reservation fee of €3,000

· 50% (less the reservation fee) payable on contract

· The Developer guarantees to ‘cash flow’ 6% interest payments on the full 50% deposit until completion (this should mean that the Purchaser will have no reduction in income during the construction of their property)

· 50% payable on completion (plus the interest payments)

Regardless of which of the above ‘Special Payment Options’ is chosen, the Purchaser can then choose any one of the following ‘Special Completion Offers’

Special Completion Offer A - 10% Cash back on keys!

· Purchaser will receive 10% cash back (of the purchase price) on signing of the property at completion

· Purchaser signs up to the hotel rental programme for a minimum of 2 years

· During these 2 years, the Purchaser gets a minimum of 8 weeks per year for personal use (2 weeks in high season)

· The Developer receives all income generated, that would have been the Purchaser’s share of the rental income, during the 2 years (but only up to the point that the 10% cash back has been covered)

· After the 10% cash back has been covered (or after 2 years whichever comes sooner) the Purchaser joins the standard hotel rental programme and receives the full entitlement of rental income

OR …

Special Completion Offer B - 6% Guaranteed rental income for 3 years!

· Purchaser will receive 6% per annum (of the purchase price) guaranteed rental income (paid monthly) for 3 years following completion

·  Purchaser signs up to the hotel rental programme for a minimum of 3 years

·  During these 3 years, the Purchaser gets a minimum of 6 weeks per year for personal use (2 weeks in high season)

·  The Developer receives all income generated, that would have been the Purchaser’s share of the rental income, during the 3 years (but only up to the point that the 18% total guaranteed rental income has been covered)

·  After the 18% guaranteed rental has been covered (or after 3 years whichever comes sooner) the Purchaser joins the standard hotel rental programme and receives the full entitlement of rental income

Additional Free Incentives Include:

· Free air-conditioning

· Free legal services

· Free Basic Furniture Pack

· Please Note: For quality and consistency purposes, a ‘Hotel Excellence’ Furniture Package is a requirement to be a part of the hotel rental programme. Purchasers must therefore upgrade to a ‘Hotel Excellence’ Package.

· The upgrade cost for a ‘Hotel Excellence’ package is as follows:

2 bed apartments €10,300

3 bed villa €15,500

· NB: For your information, the nearest competitor charges (for a 2 bed apartment) €27,000 for their equivalent to the ‘Hotel Excellence’ furniture pack

· The upgrade cost for the ‘Hotel Excellence’ Furniture Pack can be added to the completion balance (via the completion mortgage if required)

We are very excited to be able to offer the above special terms and incentives and it certainly looks like the ‘sold out’ signs will be around Tortuga Beach Resort very soon!

Those involved in international property investment who are familiar with the recent development of Cape Verde will be aware that much of its recent emergence as a growing tourist destination and flourishing property market has been down to better access.

Being located in the north Atlantic in a tropical zone (the nearest tropical islands to Britain, in fact) and in the same time zone as the UK, Cape Verde enjoys an enviable location in one sense, embellished by its varied and attractive scenery. But with this relative isolation comes the need for good means of access, something a growing number of airlines are providing.

For British investors, the good news is that the availability of such flights has grown. For example, Cape Verde Jetaway not only advertises its direct flights to both Boavista and Sal from Gatwick and from Manchester to Sal, but has also announced a new twice-weekly service to Sal from Birmingham.

So with plenty of air access, more holidaymakers can arrive at any time of the year to escape the cold rain of a British winter or the lukewarm rain of the British summer. This access equally opens up more opportunities for investors in holiday rental property, aparthotels and other developments as the industry grows and the economy of the World Trade Association’s 152nd and newest member expands with it.

Having reached the archipelago, of course, many will appreciate having good means of getting between the different islands as well. Good news this week that may assist in this - and thus further boost investment - is that more help is on its way from the Iberian Peninsula. Not in the shape of former colonial master Portugal but from Spain, reports Macauhub.

The portal has relayed a report in A Semana newspaper that funding from Spain will enable Cape Verde to build a ship for the express purpose of ferrying both cargo and up to 250 passengers between the islands. Now the Cape Verdean minister of infrastructure, transport and communications Manual Inocencio Sousa need only finalise the decision on which port will be equipped to build the vessel and who will get the private contract to run the state-owned ship.

This enhancement to transport links in the archipelago is not the only new development reported by Macauhub this month. Another is that the government of the islands is looking to set up a legal framework for the casino gambling sector before the end of 2008. Such a move may enable the government to tax and regulate the sector in a way which is beneficial to its own treasury coffers, but could also mean the development of facilities in this sector that could attract a new segment of the tourist market. Whether this means a Cape Verdean answer to Las Vegas is on the way is not clear, but the fact that such a framework is planned could be a very good reason for investors to pay attention to developments, not to mention the question of whether any new casino will be served by the new ferry.

The Tourism and Hotel School, seen as being fundamental for the qualification of tourism in Cape Verde, is expected to be ready in 2010 after construction work on it began Monday in Praia, according to website semanaonline.

The new schools will cover and area of 4,743 square metres, in Palmarejo de Cima, in Praia, next to Piaget University, and is a project funded by Luxembourg, which will provide most of the 600 million Cape Verdean escudos needed for its construction. Read more ..

I read recently that the government of Cape Verde plans to buy a new ship to increase links between islands, as part of a funding agreement signed at the end of the first half of the year with Spain, according to newspaper A Semana.

The paper added that the minister for Infrastructure, Transport and Telecommunications said that his ministry was finalising the project and the respective tender document for selecting the shipyard that will build the future vessel.

The ship will be a mixed ship for transporting cargo and around 250 passengers.  Read more ..

The archipelago of Cape Verde [pronounced cape vurd] is a group of 10 islands and 8 islets in the Atlantic Ocean, some 400 miles off the west coast of Senegal.

Only 6 hours from the UK. Direct flights to Cape Verde are available, which commenced in November 2006, from Manchester and Gatwick. Flights are now available from Manchester, Gatwick, Birmingham and Liverpool

There are flights from Belfast, Dublin, Edinburgh, Glasgow, and the Channel Islands, many on budget carriers, which connect with the direct flights on the day of departure. The Cape Verde islands are just 3 hours from Brazil and 4 hours from mainland Europe.

The archipelago of Cape Verde is considered to be the closest Tropical Islands to Europe and they all have their own unique characters - some volcanic and mountainous while others are flat with miles upon miles of perfect, unspoilt white sandy beaches.

The northern group, Barlovento – or windward side compromise of Sal, Boa Vista, Sao Vicente, Santa Antao, Sao Nicolau and Santa Luiza. The Sotavento, or leeward islands are Santiago, Fogo, Maio and Brava. They all share a mix of Portuguese and African influences, with the currency a variation on the Escudo of Portugal. Art, crafts and music display a fusion of African ad Portuguese flavour. The capital Praia can be found on the south coast of Santiago.

Antonio Da Noli, a Genoan merchant, working as a Portuguese explorer, first discovered Cape Verde in 1460. Up until 1975 it formed part of Portugal’s overseas territory until it was rewarded its independence.

Source: www.mapquest.com

Economic Data

Economic Overview

Some information on new developments…

On the Cape Verdean Island of Boa vista construction has already started on both Sabi Sands (Town Houses & Villas) and Creola Sands (Apartments and Duplex apartments).

Aerial Shot of Sabi Sands

Boa vista - recognised as the Sand Dune Island, beautifully coloured by its green oasis, is hailed as the most spectacular island in Cape Verde. This island boasts 55km of the best white sandy beaches to be found on the islands - Praia Cabral, Santa Monica, Estoril and Chaves to name but a few.

Creola Sands beach front development

Creola Sands is a beach and sea front holiday residential development that will serve as a new benchmark for the Cape Verde Islands. It’s a lifestyle choice comprising of apartments and duplexes ranging from studio apartments to three bedroom villas/townhouses with all the modern facilities expected of its luxury surroundings. Within the last week Creola Sands has had planning permission granted to have a Marina, retail outlets, bars and restaurants directly in front and surrounding the beachfront development - this will inevitably increase the projected capital growth stated below.

Sabi Sands offers an unmatched environment that creates a true sense of peace while overlooking an awe-inspiring oasis and the Atlantic Ocean backdrop. Also comprising of studios, villas and townhouses with each offering a unique sense of space with the sun, sea and sand as your neighbours.

Both Sabi Sands and Creola Sands offer fantastic investment opportunities with guaranteed rental incomes in excess of 5% for two years capital growth projected between 30% and 50% and all apartments include Air conditioning as standard specification.

Paradise Beach is a luxury beachfront resort on the island of Sal. The resort is beautifully positioned on the southwest coastline, within walking distance of the tourist town of Santa Maria.

The development is centered around the 32 suite four star hotel and comprises of:

• 22 exclusive 4 star beachfront detached villas with private swimming pools

• 12 deluxe beachfront semi-detached villas;

• 188 3-bed semi-detached villas;

• 202 2-bed apartments;

• 97 3-bed duplex penthouses;

• 12 swimming pools dispersed through the residential area of the development;

• The four star hotel includes a conference centre, bars and restaurants, health and beauty spa and Internet café.

The additional facilities on the development are:

• Diving School and Rental shops

• Wind and Kite Surfing Purchase and Rental Shops

• 24-hour Security and Control Building

• Beach Club and Kids club

• Car Rental Services

• Medical Centre

• Pharmacy

• Supermarket

• Boutiques

• Travel agency

• Beach Volley Ball Court

• 2 Tennis Courts

• Laundry and Dry Cleaning Facilities

All units will have large balconies so those which do not face the sea can catch the sun with the backdrop of an extensive landscaping, including walkways and gardens of tropical plants. Air conditioning and en-suite bathrooms come as standard. This striking development will rate amongst the best in Cape Verde.
The Paradise Beach Phase 1 development is expected to be completed in May 2009, with the final development expected to be completed in 2010.

Tortuga Beach Resort & Spa – LAST MINUTE Special Offers Available
- one of the fastest selling Resorts in the history of Cape Verde.

• Stunning beach-front Resort on one of the best undeveloped white sandy beaches in the world

• Density of less than 25%

• Luxury detached Villas with private pool and garden

• Luxury 2-bed Apartments with communal pools and relaxation areas

• Luxury 5-Star Hotel with facilities and amenities large enough to cater for the whole Resort.

• Purchasers will be able to rent their property via the hotel itinerary.

Hotel operator is to be announced soon. Will be a world-renowned hotelier with an awesome ability to attract guests via a huge worldwide network of reservation systems, vast numbers of travel agents and close links with the major tour operators. Rental potential for Purchasers will be massive and the hotel will do all the work!

• Concierge service

• Exquisite restaurant

• Elegant wine bar

• Relaxing piano bar

• Luxury spa with state of the art equipment and treatments

• Expansive gymnasium

• Shops

The 12th edition of the Cape Verde International Fair, (FIC) is scheduled to be hosted in Praia between the 19^th and 23^rd of November, the fair’s organisers FIC - Commercial Free Zone of Cape Verde said this week. The aim of the FIC is to give companies the opportunity of indentifying new customers and partners as well as promote their image, products and services. The organisers say that companies wishing to take part in this annual trade fair can register with them up until October the 10^th 2008.  

A word of advice before you go rushing of to book tickets, check dates with the organisers at the following address. FIC Commercial Free Zone of Cape Verde, SA. Laginha - Mindelo - S.Vicente CP 249, Mindelo, Cape Verde. Tel: 238 321822/25  Fax: 238 321889  E-mail: intfair@cvtelecom.cv