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Go Back      06-Aug-2011 03:43 PM
                                                                                

 

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Investing in Cape Verde

As many of you will be aware the global climate as regards spending money has taken the plunge. However there are still people out there willing to make an investment as there are some good deals about. Some people are having or deciding to sell their property before making the final payments,  some of these will be at a good price. Others may find that a developer is offering you a deal which is much better than others.

 

The Cape Verde Islands are still attracting a number of investors, those that have never visited Sal before, those who are returning for another look and those that have invested here before.

 

There are a number of developments, small, medium and large that have not progressed as fast as they should, some have not progressed at all. Hopefully the Developer will keep their investors up to date with what is or isn't  happening and explain the reasons for this. Other developments don't seem to have been affected and are going to plan as regards timescales and targets they need to meet.

 

We have a number of projects that are being built by Italian, Portuguese, Cape Verdean, English, Irish and other nationalities and it is practically impossible to know what is or isn't going on unless you want to listen to rumours  (and there are always plenty of these) either started deliberately or unintentionally.

 

If you are considering investing in Cape Verde, ask the developer as many questions as you can think of, then just in case, speak to others who have dealt with the same developer. You can never be 100% of anything,  but if you ask or listen to people's stories, it may give you some other things to think about.


Many investors are now looking or waiting to buy when a building is near completion, they don't want to risk buying Off-Plan and risking that the project will be delayed or worse stil, not completed. Unless the Developer has the funds in place to proceed with the build without having sold ......% of the units they will probably be relying on stage payments.


Some of the larger developments have had officail openings attended by the President and other officials of Cape Verde. Some of the photos and movies taken of the official 'laying of the stone' can be found in the Photo Gallery within this site.

 

There is however sometimes negativity or personal preference favouring one development over another, just remember that the person you are speaking to may not have done as much homework as you, they maybe blinded by something that’s happened to them or telling you what happened with someone else or perhaps they have other interests in promoting one or two particular projects or not promoting others. Whatever the reason make sure you do your homework.

 

There are many things you need to consider before investing such as condominium charges, management services, tax paid on rental earnings and how much you will need to pay for Annual Property Tax (IUP). There may be other costs associated with the purchase of your property and shared facilities that you may or may not be aware of.

 

Hopefully the articles within this section will give you some idea of what you need to consider…..you're not just investing in a graphic design of a property or project, but everything that comes with it!

Disclaimer

Disclaimer: Although I have tried to provide tips/guidance through the information on this web site, I accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. I encourage you to verify any critical information with the relevant authorities before you travel. This includes information on visa requirements, health and safety, customs, legalities/law, projects, properties, developments, travel and transportation.

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Cape Verde Mortgages.

Cape Verde Mortgages
Advice from an Independent Mortgage Broker: The situation on the islands regarding finance is very simple. It does not have the sophisticated range of products that we [...]




06-Aug-2011 03:43 PM