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Cape Verde expands holiday appeal

28th February 2008 | back to article listings BACK    print this article PRINT

Plenty of those looking at investing in property overseas have heard about Cape Verde by now, the archipelago off the west coast of Africa which happens to be the nearest tropical island location to Britain, with no change of time zone and new direct flights.

Those who have read and heard about these islands in the sun will be familiar with tales of how the weather is great and, unlike the Caribbean, it has no hurricane season. The sun and sea has not just helped to bring in the tourists but also investment in infrastructure and airports. The economy has grown and amid all this the property market has boomed.

Cape Verde's story is so familiar by now that it almost isn't news to hear of another tourist development, or another airline flight. But as these things take place, the investment potential of the islands can only grow.

This month, two new tourist developments have been announced. Hilton Hotels recently announced it will be building its first hotel on the archipelago, a 268-room venue in Santa Maria on the island of Sal. The hotel chain declared that "Hilton will become the first upscale international brand to operate in Cape Verde, a region with encouraging economic and tourism growth projections, some liken to that of the Canary Islands".

Such a development may go a long way to attracting a more upmarket crowd to Cape Verde, which may ensure an even larger overall number of tourists. Those investing in buy-to-let property which can be let to such people may drool at the thought.

Another firm to get involved is FM Developments, which is creating a 286-unit development on the island of Boa Vista, The Drum reports, plus an 18-hole golf course. The latter kind of development may attract some of the people who could otherwise go to Portugal, Cape Verde's one-time colonial ruler.

Of course, all kinds of markets could be catered for in the Cape Verde tourist market, even Sun readers. The tabloid's holiday pages earlier this month featured the varied charms of the islands, from the moonscapes of volcanic Sal to the lush valleys of San Antao, along with the fine old buildings and good food.

Such a write-up may persuade plenty of holidaymakers that these islands in the sun - literally in this case - have plenty to offer as an alternative to some traditional haunts. For those who may let out property in these islands, this could provide yet further opportunities.

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