Cape Verde has the advantage of being close enough to Europe and the UK for people to visit for a few days or a week. It's just a five-hour flight away, but enjoys year-round sunshine as it is on the same latitude as Barbados, and in fact it is often called the European Caribbean.
It's an excellent choice for anyone who wants to visit an affordable tropical destination, and with the credit crunch really beginning to bite it is likely to become more popular with holidaymakers looking to stay closer to home. Many popular locations such as the Canary Islands and Spain have already seen substantial rises in tourism numbers, but Cape Verde has the advantage as it offers something different.
The government has already invested significant sums of money into improving the infrastructure and has a tourism strategy plan in place, with the aim of increasing tourist numbers to 500,000 over the next couple of years. It looks as if they are well on course to achieve this, and these increased visitor numbers will obviously have a positive effect on the property market.
The islands are being quite carefully developed to ensure that the natural beauty and charm is preserved, and the resorts and apartments are definitely aimed at more upmarket tourists. Investors can choose to buy fully managed properties that offer substantial yields, while the initial investments are still pretty low. These luxury developments often come with five-star amenities such as a spa, gymnasium, restaurants and shops. These types of properties are also suitable for SIPPs.
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