Cape Verde

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She bought after being to Cape Verde for a week and has other investment properties elsewhere. I don't really get why there is some strong sentiment against Cape Verde most of it by people that have never been there. There must be strong reasons why it is chosen by large numbers of investors and developers. I'm sure that lots of them are seasoned among the inexperienced first timers. Cape Verde could become a major holiday destination very quickly by the millions of Europeans that are bored with over-developed places like The Canaries and large parts of Spain but I still think there are lower risk higher returns to be got from other traditional markets like the UK for example. Cape Verde would be lovely as a get away destination for a second home in a super climate.

One very interesting thing I discovered is that Cape Verde, like Morrocco on the mainland are potential EU entrants. The US is very keen on Cape Verde for strategic reasons and, of course, the Portuguese would like to pull it in as well.
 
So you haven't been yourself then.

I certainly have nothing against Cape Verde. I just think it's crazy to invest in a place one knows little or nothing about. And personally I think if something is being pushed by developers or other investors, that's a very good reason to look elsewhere, as these people have a vested interest in attracting more investors.

Potential EU entry? So what?
 
But remember 5.5 hrs with a time difference of 1 hr to a definite sun destination with no storms or rain or cold snaps is attractive to a lot of people. Take the 1000s who travel to the carribean each winter. Not many sun spots can deliver in Jan/feb and summers can be unbearably hot too. CV with stable temps all year round of 23 to 28 ticks a few boxes.
 
extopia said:
Maybe that white sand is actually just residue from the salt mines.

Does anyone know anyone who's actually been to Cape Verde?
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Yeah. I've been to Cape Verde in May this year. No direct flights had to go thru london but I believe that is all about to change..I was assured before jan 2007. Its a very barren land, sandy and 'greenless' but the beaches are fantastic white sand with a warm blue sea. It can be very windy tho, but this just allows a variety of wind sports. but thats really it...scuba diving and jet sking and sailing and of course fishing...the fish is really tasty. the food is 'the catch of the day'. Now what I was suprised about was that the food and drink was not as cheap as I expected..judging by the surroundings. There is an Irish couple who have a bar and a great meeting point. There is alot of development on the Island and their roads are excellent so getting from one side to the other is hassle free. ...
 

Good point..as Eastern Europe hasn't exactly lived up to its 'projected returns' but they still made a return. The Gov in Cape Verde has no choice but to promote tourism and the infrastructures are been put in place. you should see their roads, paths, lighting...as well as restaurants and bars ..the main problem is that there is nothing to do except fish and wind sports..as well as enjoy the endless white sandy beaches.
 
At last - someone who's actually been there.

Dang! The Irish bar's already been set up! Is there a chipper?
 
Quite rite macndaz, as i drove the 1 hour 10 mins home from work, in the rain, i thought to myself, how lucky i was living here in Dublin ,that at least i didnt have to go and endure another evening of swimming, Tuna fishing or Kite Surfing or god forbid, take the whole family on a stroll on a white sandy beach in 23 degrees of heat down to the Tam Tam bar for a drink and a chat.
 
Ah Carlos take it easy there, sure its a nuclear waste land according to The Sunday Times, God knows what The Sunday Times think of Dublin!
 
The more I read about CV the less I understand it as an investment.

 
I have to say I agree with some the sentiment here, that the interest in CV amuses me.
I am an oversea's investor, and will only invest once having done a lot of research, and definitely a trip to the city. Why invest all that money without bothering to take a long weekend and take the trip over? Are we really that busy!

However, until such point as Eddie Hobb's mentioned CV, I'd never actually heard of it!! And my geography is not that bad
I travel long-haul with my job every few weeks, to every corner of the world; and have viewed property all over the world over the past few years. I had to look up CV on a map!

We use the CIA website before visiting any potentially dodgy places, and the section on CV is interesting: "This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought. percent of the population are below the poverty line and GDP is only $6,200.".

Apartments still need water don't they? Long-term drought? I'd have that concern for one. And no, the friendly builder will not be able to work his magic and water will spring from the ground directly next to your apartment block.

seriously guys, do the research.

who knows, its actually might be the next Canaries; but its not for me. Too many negatives i'm afraid.
 
I think its best suited as a holiday home myself but you are right on research. Much of the planet derives water from desalinisation eg Dubai is precisely the same. Maybe you haven't been to these spots during your wide travels picking up properties?
 
Wilkes said:
I think its best suited as a holiday home myself but you are right on research. Much of the planet derives water from desalinisation eg Dubai is precisely the same. Maybe you haven't been to these spots during your wide travels picking up properties?
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i think there's a slight difference between the GDP of Dubai and the GDP of CV, hence the affordability of desalinisation may be an issue.
 
You're probably right. The population and tourists must be dying in their thousands of thirst, then there's the sewerage problem because there's nothing to flush.

Maybe they should just close the place down altogether and go back to the dark ages like the rest of Africa, I mean we can't have them actually building a successful tourist based economy, after all that might prove lots of people wrong publicly. It would be better if the place failed rather than that, come to think of it. Who do these Cape Verdeans think they are measured against the collective might of us white paddies and our expertise on their homeland, even though we've never been there!
 
Sorry I was just trying to make a point and took the cheap way. Just tired and wish to apologise.
 
Wilkes said:
You're probably right. The population and tourists must be dying in their thousands of thirst, then there's the sewerage problem because there's nothing to flush.
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That's not what I said at all. The point I simply made is that desalinisation isn't necessarily an option there. Perhaps it will be but to present it as an easy fix was wrong hence I pointed it out. The fact is that drought is a common occurance their currently. What may or may not solve that problem in the future is immaterial to me, I'm just pointing out that it is a concern currently.
 
Wilkes said:
I think its best suited as a holiday home myself but you are right on research. Much of the planet derives water from desalinisation eg Dubai is precisely the same. Maybe you haven't been to these spots during your wide travels picking up properties?
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big difference between 'viewing' and 'picking up' I'm sorry to say
I actually do some work when i travel (just a little); and very seldon go lookin about for property!! far from it unfortunately.

seriously though, all I did was the low-level research on the place; economy, GDP, the cia site is always a good'un. The on-line local papers are always great for the inside story on what the LOCAL sentiment is.
And I wasn't 100% on it, so I left it be.

Remember that agents tell fibs Anyone buying solely based on the glossy brochure is more than a bit niave.
I've no doubt is a nice place, but crucially for me, i'm looking to invest in medium/long term only. No speculation or flip-flopping.
Therefore, in my case its all about the rental market. And relating to CV, the papers talk of the rental market 'still to be identified'. Too risky for me.

the long-term issues may get resolved by the influx of money and tourism, and I naturally hope they do.

Would be interesting to hear the people who've bought there, what the convincing reasons were (and no, "Eddie Hobbs" is not a convincing reason!!).
 
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