Holiday Lettings news - Cape Verde "will continue to move forward"

Cape Verde "will continue to move forward"

The rapid development of Cape Verde means that it will not be greatly affected by any fall in the global property market.

Marco Pietropoli, director of RMDS, said that investment in infrastructure meant the Atlantic archipelago was well placed to ride out any downturn in the market without too many problems.

Mr Pietropoli, said: "All sorts of things are going on. There is a lot planned. It is moving forward and it will continue to move forward."

He added that the situation in Cape Verde was also enhanced by a continued investment in infrastructure as well as tax breaks being given to developers.

Tourism on the islands has received several boosts recently with a reported 220 million euros being invested in the industry.

The cash injection coincides with the opening of a new airport on the island of Boavista and the launch of weekly flights from London Stansted to the islands.

Cape Verde was colonised by settlers from Portugal in the fifteenth century and was granted independence in 1975

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