Cape Verde

Re: Cape Verde or other country in which to invest

Hurricane Noel ( the deadliest of the many in 2007 ,"quote,) Cruises through Carribean, Jamaica, Bahamas, Dom Rep and Mexico, killing people and causing major havoc,
and it seems to go unnoticed by most posters, even though the question asked was for a "comparison of overseas property purchases" and some posters gave reasons for not buying in one place but heartily endorsed the above.
 
Re: Cape Verde or other country in which to invest

Further to comments about bahamas....I know someone who suffers from "prickly heat" quite badly( a fairly common condition). He has been to the bahamas twice. He said it is very nice there - the beach/sea/food/people/etc.
However, on the first occasion he was there, he had the prickly heat-and it put him off. Too hot, and sticky. Some years later(with arm twisting from family) he went again- and again had same thing.
Says CV is much better cos it is nearer, and has a constant breeze - which is perfect in that people do not overheat- yet it is warm/hot enough all year round for swimming, sunbathing, etc. Says he will never go to Bahamas again, and neither will I be bothering with it!
 
Re: Cape Verde or other country in which to invest

Should have mentioned.....apparently, the only time when there's a constant breeze in Bahamas is when there's a hurricane. Nice.
 
Re: Cape Verde or other country in which to invest

I know the OP's question related to CV and possible alternatives all over the world but this makes moderation of the thread difficult.

So Im asking that only CV is discussed in this thread (other places can be mentioned in passing) and if any one wants substantial discussion on say the Bahamas then they can open a new thread on that location.

aj
(moderator)
 
Re: Cape Verde or other country in which to invest

ajapale said:
I know the OP's question related to CV and possible alternatives all over the world but this makes moderation of the thread difficult.
Click to expand...

Why do you feel the need to moderate it then? Is anyone likely to complain if the discussion goes slightly off-topic?
 
Re: Cape Verde or other country in which to invest

Why anyone would want to go to cv for £400 when they could fly Ry to another very quiet desert island for €150 return and spend 2 hours less getting there is beyond me. Fuerteventura has flights 3 times a week with RY and the island is to all intents and purposes a desert island. Just like CV
 
Re: Cape Verde or other country in which to invest

ubiquitous said:
Why do you feel the need to moderate it then? Is anyone likely to complain if the discussion goes slightly off-topic?
Click to expand...

Sorry ubi,

I should have have explained a little better.

It facilitates searching if each location is discussed in its own thread.

If we end up discussing all locations on the one thread it would make the thread impossible to follow.

sj
 
Re: Cape Verde or other country in which to invest


I got Ryanair for €70 return including bags, taxes etc, and the cheapest at the time was €50.

Oil is hitting new highs again today, expect the fuel surcharge to go up on long haul twice as much as shorthaul.
 
Re: Cape Verde or other country in which to invest

MrKeane said:
I got Ryanair for €70 return including bags, taxes etc, and the cheapest at the time was €50.

Oil is hitting new highs again today, expect the fuel surcharge to go up on long haul twice as much as shorthaul.
Click to expand...

What constitutes long haul and shorthaul
cyprus is less than 350 miles flying than cape verde
canarys is 600 miles less
turkey similar to cyprus
5 years ago ry would never of thought to fly as far as canarys, now they reckon they can fly 4000 miles to the states for a tenner a seat soon.
CV is 2600 miles
RY 737s fly at 530 mph
Where does this put CV.
 
Re: Cape Verde or other country in which to invest

Long haul. And comparing flying to cape verde and flying to the states is a bit ridiculous. The demand to fly to the states will always out weigh the demand to fly to a island in the middle of no-where with few other attractions other than good weather. There are plenty of other places alot closer to ireland/uk with good weather that people will always want to fly to.
 
Re: Cape Verde or other country in which to invest

Mortgages in Cape Verde (better late than never!).

Min. €50,000 - no max. Maximum term 35 years or up to age 80. Repayment or (up to) 5 years interest only.

Maximum loan equal to 33% of gross monthly income (including all existing mortgage/loan/other commitments worldwide).

Interest rate for loans up to 50% - 7.45%. From 50% to 85% - 7.95% variable.

Sarah W

www.mortgagesoverseas.com
 
Re: Cape Verde or other country in which to invest

Not that i want to, or need to, promote Cape Verde.
But for anyone interested and needs more info,
Caboverde24.com has forums and
Capeverdeportal.com, has actual site development reports and building videos for all to see.
Carlos
 
Re: Cape Verde or other country in which to invest

eh u just did! Brendan developments should look at this for investing.
Constant wind make this island a good place for kite flying.
Closest Sun to here is Spain - why go thousands of miles (or instead buy Florida)
 
Re: Cape Verde or other country in which to invest

People go to the canaries for winter sun. Plenty of options for summer sun, the south of France for example is a lot closer and cheaper than the Canaries. As fuel surcharges kick in the Canaries will also suffer, perhaps becoming a winter only destination and if the Canaries sneeze then CV will catch the proverbial cold.
 
Re: Cape Verde or other country in which to invest

my opinion on Cv from the research I have done is that it offers great weather 99% of the time. Spain can be very cold in winter, and many parts can be "dead". Have been to canaries in november, and it was too chilly to lie on the beach half of the time.
It has more to offer than weather, but then again- ask most people why they go away for "sun holidays" ( the clue is in "SUN holidays" I reckon")
 
Re: Cape Verde or other country in which to invest

to add to the above, many Irish/Brits are now a bit more adventurous than they once were, and times change. holidays changed from seaside in Ireland(AHHH!) to, wow, hols in spain/france. Then it was canaries(if you were a real show off). All of the above have got kind of old hat now- and many want to seek out more places( with so many airlines offering many destinations). Also ireland has a wealthier population now than ever( as does most of europe)
 
Re: Cape Verde or other country in which to invest

With mortgage rates at 7.5 to 8 % what sort of rental income can be achieved on these properties. How many weeks will the property be realistically be rented for in the year. What are the additional costs associated with purchasing property. Is there a double taxation treaty with cape verde or will people have to pay capital gains tax in both countries. What are the management costs for a property in cape verde and how many management companies are there in cape verde. Would love if some of the people who are pushing this place could give some hard facts and direct answer's to the above questions. After all the tread was about places to INVEST in and I think the object of investing is to actually make money.
Galway boy
 
Re: Cape Verde or other country in which to invest

On Temps ,History on wunderground.com shows Jan mean temps are
Malaga 2006,05,04, 10cto 12c
Nice 2006,05,04, 6c to 9c
Canaries 2006,05,04, 12 to 14c
Sal 2006,05,04, 23 to 26c
Dub 2006, 05 04, 1c to 4c
I can only speak on behalf of my own purchase and all these questions were answered in previous threads. But all my questions in relation to taxes and costs were answered by price waterhouse cooper to my satisfaction and can be viewed online,
and the mortgages quoted above are being probably given in CV on the unbuilt property as collateral, not on a re -mortgage of ones ppr here in ireland.
 
Re: Cape Verde or other country in which to invest

Galwayboy - to try and answer some of your queries, I have covered the points in my reseach:-
1)Additional costs:7-8 % of puchase price. Local taxes 3% per year on 25% of property worth.management fees c. 10%
2) CGT 3% ( can be subtracted from irish cgt)
3) Many companies to be in place once complexes complete ( mainly onsite)
4) Potential rentals- all year constant good weather? who knows- still most property being built. However, try a search for something like owners+property+direct , and see for yourself !
 
Re: Cape Verde or other country in which to invest

Further, competition usually means lower mortgage rates. More mortgage companies set to join. Plus there is some talk of major world banks setting up in CV in time. Remembering, of course that it's still all very new as a developing tourist destination (on that point tourist rates 25% up last year, and rising).
Nobody has crystal ball, to know how popular it will be, exactly. It is still relatively unknown-many of my friends ask "where?" when I mention it. However, this notion, I think, will change in a year or so(when more holiday brochures, airlines, etc advertise it. At the moment its not worth doing as its a bit of a building site.
 
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