Holiday Lettings news - Major Cape Verde investments to bolster property market

Major Cape Verde investments to bolster property market

Developers and hotel chains have cottoned on to the massive potential of the Cape Verde islands as a tourism destination.

The closest group of tropical islands to Europe, Cape Verde has been growing in popularity for some time with property investors and holiday makers due to its reputation as "the Caribbean on your doorstep".

The construction of new airports on the islands of Sal and Santiago have opened the Portuguese-speaking archipelago – situated off the coast of Senegal in the Atlantic – up to large-scale tourism.

A major golf resort is being constructed at Cotton Bay on Sal, while Nikki Beach is building casinos and five-star hotels on the islands.

Pelle Langli, chief executive officer of Emerging Real Estate – which is selling properties at the Cotton Bay resort – said: "Cape Verde is one of the world's most exciting property hotspots. Its close proximity to Europe, as well as its stunning coastline, interior and climate make it the perfect holiday destination."

Improvements to infrastructure on the islands that these large-scale investments will bring about can only make property on the islands more valuable, so investors would be wise to buy early or hold what they have.

Last week Adrian Lillywhite, managing director of Cape Verde Property, stressed the "exciting" nature of the Cape Verde market, with rental incomes rising by around 25 per cent in the last year.

This article was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.
Print this article