Cape Verde

[fresh1]

Re: cape verde/other country to invest

Has anyone invested in CV? I am thinking of investing (with some friends). We are looking to raise c €100k by spring 2008, and are wondering which country offers best growth/rental return investment over 5-7 yr time frame.
Other countries on the list are brazil, portugal, and lithuania.
Cape verde seems to be the best country in its infancy though-and seems to have big potential.
Some thoughts/ideas would maybe help in our decision making.

Hi Thomsk, I bought in Lithuania at the start of the year, and have seen excellent growth this year. But now apartment prices, especially in Vilnius, are quite high eg at least €90/£60k for a completed 1 bed on the outskirts, as all offplan apts are sold as "grey finish".
I think Brazil is a good option, if you stick to established areas (particularly in the South) with good local demand. Also, I have invested in an offplan in Tirana in Albania recently, as the council have great plans to improve the city leading up to the EU entry. I hope this helps.

 

[thomsk]

Re: cape verde/other country to invest

Thanks, fresh1.
Albania, hey? I was reading about that recently-only a small article though. It seems to be a bit risky- but then people thought that about bulgaria/montenegro I guess- say 5 years ago!
Could you recommend any websites for further info on albania? And...I wonder, have you been out there yourself?
Cheers.

 

[MrKeane]

Re: cape verde/other country to invest

Cape Verde is a great place to invest. People prefer an extra few hours in the plane rather than just stopping in The Canaries. No cheap charter or Ryanair flights either, makes the place much more chic, no lager louts. Only a few scheduled direct flights from Europe at full airline prices, so only wealthy people will be travelling there. Thousands of apartments under construction - so lots to choose from. And best of all prices rise 20% per year, so the earlier you get in the bigger the killing you will make.

Are you the shoeshine boy in disguise?

 

[z109]

Re: cape verde/other country to invest

People prefer an extra few hours in the plane rather than just stopping in The Canaries.

Yes, I often ask the pilot to delay the plane, just so I can stay on it that much longer.

No cheap charter or Ryanair flights either, makes the place much more chic, no lager louts. Only a few scheduled direct flights from Europe at full airline prices, so only wealthy people will be travelling there.

Of course, with all that travelling on full fare they won't be wealthy for very long. €1159 return in October using ebookers.ie. However, I didn't shop around, but why would you when you're wealthy? (Travel time 21h 20m with two stops, so plenty of time to enjoy the plane).

Thousands of apartments under construction - so lots to choose from.

No danger of oversupply then. It's a good thing there are lots of wealthy people that will want to rent them from other wealthy people!

And best of all prices rise 20% per year, so the earlier you get in the bigger the killing you will make.

I used to have a crystal ball like that, but someone gave it a kick and it shattered!

(I can only presume, MrKeane, that you were being satirical? )

 

[Sarah W]

Re: cape verde/other country to invest

Sarah W.

Not quite clear but are you an Irish representative for Conti of mortgagesoverseas.

Thanks.

I am originally from the UK but lived in Ireland (and worked for REA Mortgage Services Ltd) from 1995-March of this year. I'm now living in Portugal and working as a local adviser for Conti Financial Services Ltd who's website is www.mortgagesoverseas.com. Oh, and I'm a 1/4 Irish!

Hope that helps. Confuses me enormously.......

Sarah

www.mortgagesoverseas.com

 

[ClubMan]

Re: cape verde/other country to invest

I suspect that MrKeane was being sarcastic above?

 

[Guest127]

Re: cape verde/other country to invest

Cape Verde is a great place to invest. People prefer an extra few hours in the plane rather than just stopping in The Canaries. No cheap charter or Ryanair flights either, makes the place much more chic, no lager louts. Only a few scheduled direct flights from Europe at full airline prices, so only wealthy people will be travelling there. Thousands of apartments under construction - so lots to choose from. And best of all prices rise 20% per year, so the earlier you get in the bigger the killing you will make.

Are you the shoeshine boy in disguise?

and you omitted the 'joining the eu soon' bit.

 

[ubiquitous]

Re: cape verde/other country to invest

...and most importantly, recommended by Eddie Hobbs

 

[MrKeane]

Re: cape verde/other country to invest

Its also expected to jointly host the 2015 rugby world cup along with neighbouring south Africa.

 

[MichaelDes]

Re: cape verde/other country to invest

How did you choose the locations you came up with? Anything EH would tip sends a shiver down my spine. Have you considered Saint Lucia to take advantage of the ailing eastern caribbean dollar (used by eight of the islands incl. Cayman) - more brits travelling here with more direct flights and its 65% lower in price than neighbouring Barbados (€400,000 for beach front property) or else Saint Vincent beside Lucia - 50% cheaper again. Or possibly Mauritius which has recently opened its door to non-residents. For Brazil this article maybe useful Brazil Propert Info. If looking at critical mass areas of Rio or Sao Paulo have you considered B Aires. Boom in soft commodities is helping FDI and pushing up property prices in the wealthier neighbourhoods.

Edit add-on. Mrs.B ;-) you are right about Cayman (silly me) but as you quite rightly say it is affected by US$. P.S. Does the Carribean still get much tourism from American tourists or has there been a downturn since the US slump.

 

[Mrs.B]

Re: cape verde/other country to invest

Eastern caribbean dollar not used in Cayman. CI dollar used which is pegged to the USD.

 

[stasysk]

Re: cape verde/other country to invest

Hello everyone.
I am from Lithuania and i am investing in property in Lithuania. It was a great place to invest for few years, but not anymore. Prices are high, market becoming very slow, high inflation, risk of financial crisis....
So at this moment, LITHUANIA is not good investment.
Good luck.

 

[Ancutza]

Re: cape verde/other country to invest

Michael Des, I had the pleasure of working on St. Vincent for a few months back in 1997. It might be cheap but it ain't pretty. Black sand beaches everywhere due to the presence of a bloody big dormant (not by any means extinct!) volcano in the middle of the island, not much to do, run down town centre which gets a bit dodgy at night and the highlight of the trip was the Blackhawk helicopters of the US DEA sweeping in and burning vast swatches of the highlands whilst the rastafarians in town looked on crying into their beer.

If you want to buy in that particular group of islands (St. Vincent and the Grenadines) then the only place to look at is Bequia which is probably just as expensive as Barbados and again rather quiet when compared to its more easterly neighbour.

 

[Steve D]

Re: cape verde/other country to invest

Has anyone invested in CV? I am thinking of investing (with some friends). We are looking to raise c €100k by spring 2008, and are wondering which country offers best growth/rental return investment over 5-7 yr time frame.
Other countries on the list are brazil, portugal, and lithuania.
Cape verde seems to be the best country in its infancy though-and seems to have big potential.
Some thoughts/ideas would maybe help in our decision making.

For some reason the words "fools are soon parted from their money" spring to mind.

 

[MichaelDes]

Re: cape verde/other country to invest

Michael Des, I had the pleasure of working on St. Vincent for a few months back in 1997. It might be cheap but it ain't pretty.

Ancutza. Have you made a typo on "1997" if not your comment could be outdated and redundant as it is a long time ago by tourist terms. I don't know much about Saint Vincent only that some property firms (and I don't mean the like of MRI etc) consider it to have potential in line with to the original posters budget. But as you say you get what you pay for and although it presently does not have an airport the [broken link removed] look okay to me. Different considerably from your opinion but I stand to be corrected. Personally I wouldn't buy in the area without knowing further but just threw in my insight from other investors.

Have to agree with Steve D have to be joking considering €100k as a group, even on LTV 80% only gives €.5m not much considering. Also his phrase could easily ring true, very quickly.

 

[Guest119]

Re: cape verde/other country to invest

Cape Verde ?. Why ?. Sunshine, Beaches ?. It's an impoverished West African country. A few years ago The Gambia was a popular holiday destination for some (seems to have fallen from favour of late). If West Africa was such a property 'hot spot' how come nobody is ramping places like Nigeria & Ghana ?. Regular daily flights, miles of beaches (great for public executions); Just ask anyone who has lived and worked in these places.

Corruption, crime, personal safety, infrastructure, social facilities etc. (the 'highlight' of Nigerian cuisine is pepper soup.)

The only choice to make is which bubble bursts first - Bulgaria or Cape Verde ?. (Incidentally, I lived in Nigeria for three years, so, I have some experience of the area and the infrastructure).

 

[Carlos]

Re: cape verde/other country to invest

E U grants Cape Verde Special Partner Status 26/10/2007,
This document will be ratified in Brussels at the next Council of Foreign Affairs meeting on Nov 19/20.
This strenghtens ties for CV to Europe.
European Commission and Portugals President, Manuel Barrosa, stated
" Cape Verde is geographically Closest to the Canary Isles, Madeira and the Azores and these, as peripheral regions of Europe, with which europe maintains good economic and political relations"
"We want to give Cape Verde a strong political signal and treatment that aknowledges this countrys specificity" (A Semana news)

 

[thomsk]

Re: cape verde/other country to invest

Yes, I saw that Carlos. Good news- being hoping this would happen! As I have mentioned before, I think the Islands have great potential.
Also, there's talk of the Chinese adding more to the investments they have already made in Cape Verde( San Vicente in particular, I believe).
And other attractions such as Nikki Beach/ Ernie Els golf course/ Casinos seem promising.
CV government seems to be doing good job so far.
Just hope that all the corruption,crime, poverty, social scene get better that bigrog mentions change.

 

[Carlos]

Re: cape verde/other country to invest

Hi stir, Big rog seems to me to have Joined the wrong forum.
To be talking about two other completely different countries Nigeria and Ghana is riduculus.
Ireland is only 500 miles further away from Cape Verde than Nigeria is.
Strange comparisons, as Spain and Portuugal are actually closer than his two examples.
As for crime, corruption, personal safety, etc could he clarify with, may be a few facts.
I personally would be very concerned buying in a country with any these problums.
I live here in Dublin and would only be used to "petty crime"
like 40+ murders this year alone, drugs, gang shootings ,
political corruption ( inc tribunals), failing health service, infrastructual chaos (transport esp), lack of facilities for our youths, but these are not my opinions they are facts.
Put like this Dublin seems dangerous and lacking.
But on a positive note China are building large projects in CV inc a new stadium. They also made CV a "priviledged destination for tourism" China is seen as the major tourist traveling country for the future and the gov only allow certain countries to be visited by their travelers and CV is now one.

 

[thomsk]

Re: cape verde/other country to invest

Very good points, Carlos. I am glad that I never invested in Dublin/Ireland - sounds horrendous. Glad I never invested in property there. I would only have made around €200k in 3 years, but the local gangsters would have taken it off me. Phew! Close escape.
Your remarks on CV seem good - but I think I'll err on caution and stick with bigrog's thoughts. After all it is an African country......infact Dublin is in Europe so I won't invest in Germany,France,Spain,Portugal,Poland,Baltics,Italy (infact ANY of Europe) as "fools are easily parted with their money" and there's a risk that if I buy in CV I may have to eat pepper soup!