Can you re-sell in Cape Verde

O

Oso

Registered User
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Hi,

Can anybody advise how I can re-sell my 2 bed property on Vila Verde development on Sal.

It is not due to complete till 2009 yet the developer has sold out of 2 bed units.

Problem I am having is that the established agents will only sell developer's property and not take on re-sells.

Any advice appreciated.
 
Re: Can you re-sell in Cape V

The established agents are probably getting quite a high commission to sell the developer's apartments. No way of knowing for sure, but it could be 10-15%. If you are willing to match this, I'd imagine that they will sell it for you.
 
Re: Can you re-sell in Cape V

Carlos & Thomsk are you best bet
 
Oso - have you tried making contact with capeverdeportal.com for advice? Also, daft -as previously mentioned, may be able to help in some way, as they deal in overseas property.
 
Spot on thomsk, cape verde portal dot com do advertise resales,
from what i can see the ads on daft are leaders for developers and certain agents, most of these developments are still off plan,
villaverde is a large development so for the moment the agents will be pushing new builds, i have always said CV is medium if not more long term,
it is not impossible to flip but you need to see that up against slick sales staff with fancy brouchers you need to offer something special, (are you closer to beach, pool view, have prices increased since your deposit went down. Carlos
 
At the risk of self promotion - you can list your property for free on our website, for Cape Verde or anywhere else for that matter.

The posters are right though, you're up against a lot of new build promoters who are putting millions into their advertising campaigns so you'd want to be sure it is well priced if you want to move it.
 
Camry said:
Here is a link to Daft.

Seems to be a lot of stuff available.

http://www.daft.ie/search.daft?search=1&s[country_id]=71&s[search_type]=international_sale&s[refreshmap]=1&offset=20&limit=10&offset=0
Click to expand...


an awful lot of stuff !.

Can you really see several thousand families going to CV every week ?.

Instead of property a better investment there might be to set up a furniture import business. Looking at the glossy sales details the furniture illustrated hardly looks locally produced.
 
Why several thousand families?
on Sal you cant build higher than two stories close to the beach. you are limited to the number of dwellings per acre, and sal is over 7 times smaller than Gran Canary Island alone,
mesuring 30k by 12k, this is very limited beach front development and easy reach of airport to all areas,
It has an International airport since 1939 and one of the longest commercial runways in the world ( the shuttle could land there) There is no need for mass tourism, with 365 days of sunshine, no storms, no european jetlag, and only 4 hrs from Europe, fewer visitors is best . The weather is what is important
 
"Why several thousand families ?".

Well, using the link to 'Daft' brings up 6 pages of property ads. The first page alone has ads for 1,280 units for sale (in addition to the hotels being built as part of the complexes) and one ad doesn't state the numbers. So, extrapolating that over another 5 pages and there would seem to be plans for several thousand properties (and even more hotels).

"Fewer visitors is best".

Really ?. It will require thousands of visitors if the proposed amenities (golf courses, supermarkets, restaurants etc.) are to survive & prosper. Also, fewer visitors means fewer flights, which means even fewer visitors, which means amenities becoming financially unviable and closing, which means fewer vistors and so on.
 
My 4 hr example is in relation to the largest group of visitors to CV the Portugese.
The ads on daft seem to be the same ads re listed for the same developments over and over.
Fewer tourists looking for better products than are available in other destinations ,take north majorca good quality villas and facilitys
 
If as I am starting to feel from the Cape Verde threads, the builder sets the price and creates the market then I feel sorry for any customer trying to resell when there is no local market. Kind of reminds me of the Bulgarian threads . . . except Bulgaria is a hell of a lot easier to get to and also a lot cheaper than some isolated spot where all luxury items have added on 25% for the cost of transportation to the place.
 
I dont know if this would help but i think if you want to resell your property in CV your gonna have to take a trip over there and talk to a few local agents.

I also agree that you should place it on the irish websites but if you want to shift it quickly you r gonna have to have a presence over there and offer the agent an attractive commission for him to prioritize your property.

The local market may not be there but if you can get an agent that deals with foreigners you may get a better chance of shifting it quicker, and i find it hard to swallow that the agent wont take your property back!

Have you asked yourself why? no matter what excuse they give you money is money and if they have SOLD OUT i dont understand why they wouldnt want to start reselling?
 
Thanks everybody for your tips, I will start looking into your suggestions.

Drspecialist, the reason agents won't take on re-sells even though this development may be sold out is because they are committed to maximising the number sold through any other off-plan developers. The more they sell the higher the commission from that developer e.g. sell 5 and you get 10%, sell 10 and you get 15% etc...

Of course buyers suffer as they are not offered perfectly good re-sell property in good developments.

I believe the off-plan boom will slow down since Sal is such a small Island at that point the same agents will have no option but to go into the re-sell market.
 
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