Holiday Lettings news - 'Mature rental market' on Sal

'Mature rental market' on Sal

The island of Sal in Cape Verde has a growing rental market, an industry expert has claimed.

According to Adrian Lillywhite, managing director of Cape Verde Property, apartments in Sal are "improving quickly", making it an "exciting" destination.

"At the moment, the majority of the market is made up by apartments. You can walk to the sea, that's what's great about Cape Verde – in Spain you might have to walk 15 minutes to get to the beach, but in Cape Verde it can be within half a minute's walk.

"Although, obviously, the closer you are to the sea, the more expensive it gets."

He added that, for those investing in property for rental, incomes in Sal are rising by around 25 per cent, with the market still developing fast.

For purchase, modest sized two-bedroom apartments sell for between £70,000 and £120,000, although all transactions are done on an off-plan basis.

A new airport has been opened on the island of Boavista in Cape Verde, further increasing accessibility to the country, with Cape Verde airlines recently starting a weekly flight service from London Stansted.

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