Cape Verde Property Hotspot
The Cape Verde Islands Property Hotspot
The Cape Verde islands are tipped to be a holiday hotspot for 2007 and prepare for prices to take off. Graham Norwood reports
Where tourists go, estate agents follow. So Cape Verde's leap into the list of top 10 holiday locations for 2007, compiled by tourist firm Expedia, means that the archipelago of tropical islands off the west coast of Africa is set to be a holiday-home hotspot, too.
Expedia's survey, which placed Cape Verde amongst the world's most popular places to visit for the first time, comes hot on the heels of soaring tourism figures for the 18 islands that make up this former Portuguese colony. Tourism grew 25 per cent between 2000 and 2005, with the sector's contribution to gross domestic product rising from 7 per cent at the millennium to 10.4 per cent a year ago. The country's population of just under 500,000 expands by 10 per cent at peak visitor times and now substantial numbers of new homes are being built.
There are new tourist facilities being announced almost weekly. For example a Macau-based businessman, David Chow, is investing more than $100m (£52m) in a casino and hotel complex in the country's capital city, Praia.
Amar Sodhi of British-based estate agent Avatar International, says: "One result of this tourism investment in the economy of Cape Verde is an increased number of businessmen looking for high-specification homes. The property market is still very immature and there are bargains to be had. The recent introduction of direct flights makes it accessible for businessmen in just five hours from London."
On Sal, one of four main islands and the location of an international airport, San Pedro Bay is already famous for wind and water sports and is home for several new developments.
The Cape Verde islands are tipped to be a holiday hotspot for 2007 and prepare for prices to take off. Graham Norwood reports
Where tourists go, estate agents follow. So Cape Verde's leap into the list of top 10 holiday locations for 2007, compiled by tourist firm Expedia, means that the archipelago of tropical islands off the west coast of Africa is set to be a holiday-home hotspot, too.
Expedia's survey, which placed Cape Verde amongst the world's most popular places to visit for the first time, comes hot on the heels of soaring tourism figures for the 18 islands that make up this former Portuguese colony. Tourism grew 25 per cent between 2000 and 2005, with the sector's contribution to gross domestic product rising from 7 per cent at the millennium to 10.4 per cent a year ago. The country's population of just under 500,000 expands by 10 per cent at peak visitor times and now substantial numbers of new homes are being built.
There are new tourist facilities being announced almost weekly. For example a Macau-based businessman, David Chow, is investing more than $100m (£52m) in a casino and hotel complex in the country's capital city, Praia.
Amar Sodhi of British-based estate agent Avatar International, says: "One result of this tourism investment in the economy of Cape Verde is an increased number of businessmen looking for high-specification homes. The property market is still very immature and there are bargains to be had. The recent introduction of direct flights makes it accessible for businessmen in just five hours from London."
On Sal, one of four main islands and the location of an international airport, San Pedro Bay is already famous for wind and water sports and is home for several new developments.
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