Cabo Verde (Cape Verde)
Cape Verde is named after Cap Vert (meaning Green Cape) in Senegal, the westernmost point of continental Africa. The Islands are located around 560 kilometres off the west coast of Senegal. They’re about one hour south of Spain’s Canary Islands.
Despite being an African country, Cape Verde has a culture, landscape and atmosphere quite unlike anything on the mainland. It’s also widely regarded as 2007’s most lucrative emerging markets.
Economic Boom
According to MacauHub, in 2006 Cape Verde’s economy grew by the highest rate in almost 10 years – 10.8%.
The Cape Verdean government had only expected a growth rate of between 6 and 7% so were pleasantly surprised. Tourism was of course largely responsible for this growth. Jose Maria Neves, Cape Verde’s prime minister calls it the “main engine” driving the economy.
With year round sunshine and a climate slightly hotter and more consistent than the Canary Islands, Cape Verde is a perfect beach holiday destination right throughout the year. It’s no wonder sun-starved Northern Europeans are keeping a keen eye on it.
The property market is booming – Investors and homebuyers are taking full advantage of the island’s excellent value for money properties.
Background
Cape Verde is an African country located off the west coast of Senegal. It consists of 10 main islands and about 8 islets.
This fascinating archipelago boasts some stark contrasts in landscape. It’s home to fierce volcanic landscapes, endless white sandy beaches, lush green forests and vast deserts.
In Cape Verde’s northern islands, Crioulo is the spoken dialect. In the south, they speak Krioulo. One of the recent issues facing the government is the amount of variations of these dialects that are spoken – sometimes up to nine within each individual island. Ever since their independence from Portugal in 1951, there’s been a call for one or possibly two standard languages.
For the moment though, visitors will hear a variation of colonial-era Portuguese with the occasional English or West African words thrown in.
Although Cape Verde is an African country, it’s distinctly different from any of the other countries on the mainland. Cape Verdeans have their own language(s), traditions and music (known as Morna). Most countries in Western Africa are a mixture of Islam and Animism. On Cape Verde, the majority are Catholic Mestizos.
Located so close to Europe, Cape Verdeans have a very broad-minded and European outlook on life.
Cape Verde is often called the “new Canary Islands” as they’re very similar in terms of both landscape and climate. And like the Canaries, there’s a vast degree of difference between each of the individual islands.
They’re also being called the new Canary Islands because agents and developers are selling them as the latest holiday hot spot and this year’s most lucrative investment location – which to a large extent, they are.
As of yet, Cape Verde remains untouched – a natural paradise with an easy way of life, low cost of living, high quality of life and some very affordable properties. Whether or not mass tourism and (perhaps) overdevelopment will happen here like in Spain is hard to say.
It’s hard to categorize Cape Verde. It’s a mixture of African, Brazilian and European yet at the same time it’s completely different from its neighbours. It’s a fascinating and at the same time bewildering country – staggering beautiful and full of exotic charm.
Property For Sale in Cape Verde
Prices are still very low, especially when compared to some of the more established tourist resorts like the Canary Islands, Spain and Portugal.
Here are a few examples of what you’re likely to find online…
Studio, Sal Island
Sale Type: Off Plan
Price: £ 47,894
Studio Apartment, Santa Maria Island
Type: Studio
Sale Type: Off Plan
Price: £ 45,449
Studio, Salinas Sand, Sal Island
Type: Apartment/Condo
Sale Type: Off Plan
Price: £ 46,413
Local price: Esc 7,557,243
Cape Verde’s Future
The hype is phenomenal. It’s been hailed as the “new Canaries”, “Barbados without the jet-lag” the “Caribbean on the cheap” and countless others.
Although mass tourism can bring with it various problems like overdevelopment and crime etc, most agree that the positive impact of tourism on Cape Verde will be largely beneficial.
Through tourism, this once impoverished third world country will see increased employment a better standard of living and should eventually become a much wealthier nation.