FAQs
Here are some of the most frequently asked questions about Cape Verde. If you have any questions that are not covered here, or would like more information on any of the points below, please complete contact details on this page.
Are there direct flights from the UK?· Yes, currently Thomson Airways have weekly direct flights to Sal from Gatwick, Manchester and Birmingham. Most other major European airports are also launching direct flights and we expect to see more from the UK over the next few years as the demand grows.
Is the country economically stable?· Yes, the development of the tourist sector is a key priority for the Cape Verde government and since turning attention to this, its GDP has been steadily growing since the early 1990s. Foreign investment is growing considerably and the banking system has remained stable despite the Global downturn.
Does Sal Island have the infrastructure to cope with increased tourism and development?· Yes, Sal airport is already capable of receiving international flights and has the 8th largest runway in the world. The infrastructure is growing in line with the needs and the World Bank recently provided an investment package worth US$ 237.9 million to fund infrastructure projects and expand the service sector in Cape Verde.
· Cape Verde’s public investment is focussed on port expansion and the growth of energy and water sectors.
Will the Islands be spoilt by all the increased development?· No, the Cape Verdean government is enforcing strict development rules allowing low density, low rise projects only.
Is the country politically stable?· Yes the republic of Cape Verde gained independence from Portugal in 1975 and the move to a free market and a multi party vote system made the country politically stable. It sees itself aligned more with Europe than Africa and pegs its currency to the Euro.
How can I be sure that buying property here will be a good investment? Although it is impossible to give any guarantees, all the indicators are excellent;· Capital values are rising between 10 – 15% annually
· Tourism is relatively new, but the major hotel on Sal currently enjoys over 90% occupancy throughout the year.
· Tourism is growing rapidly. The number of tourists going to Cape Verde has grown over the last 5 years by 107% to over 300,000 and is set to reach 1 million by 2015.
· Demand for high quality accommodation is currently far exceeding supply
· Dunas Beach Resort sits on premium beach front land, creating the most desirable, saleable and rentable properties available.
· Sol Melia, have a global reach with tourist operations and partnerships spanning four continents, which will facilitate high occupancy rates.
· There is now low season, the temperature remains between 22 and 30 degrees all year with no hurricane or rainy season.
What reassurances can you give me about the Property Developer? · The Resort Group PLC was the 1st developer on Sal to pay in full for their land. They own the land unencumbered and the company’s cash rich status means that it is not dependent on future sales to complete the resort.
· All planning permission has been granted and due diligence packs are available.
· The Resort Group will retain ownership of all the commercial aspects on the Resort, so they are in it for the long term
· Sol Meliã are one of the largest hotel groups in the world and have done their own due diligence before signing a 15 year contract with The Resort Group, to manage the Resort.
Do I own the freehold of the property I am buying?· Yes, all property is sold freehold, leasehold does not exist in Cape Verde
· The property is yours to sell at any time and can be willed or gifted to a third party according to your wishes.
What other developments are happening in Cape Verde?· Billions of Euros of international investment is being put into the establishment of resorts, hotels, golf courses, marinas and commercial centres
What is there for me to do in Sal at the moment?· Sal Island is a must for all those who love the beach and water sports. It has some of the best beaches in the world and the best conditions for windsurfing, kite surfing and surfing.
· Great diving and deep sea fishing
· Dine out and drink in one of the many restaurants and bars in Santa Maria
· Turtle, whale and dolphin watching
· Salt mines, for a rejuvenating soak in the salt pools
· Visit Buracona and dive and swim in natural pools in the rocks
· Quad Safaris
· Trips to other Islands and cruises around the island