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For more information to complete the application form.
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CLUB RATING. |
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Rentability |
An infant market to soon to tell |
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Capital Appreciation |
5-10 year plan, Too early to tell |
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Long term rating |
Excellent, new airports and direct flights |
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Country History
The uninhabited islands were discovered and
colonized by the Portuguese in the 15th century; Cape Verde
subsequently became a trading center for African slaves and
later an important coaling and resupply stop for whaling
and transatlantic shipping. Following independence in 1975,
and a tentative interest in unification with Guinea-Bissau,
a one-party system was established and maintained until multi-party
elections were held in 1990. Cape Verde continues to exhibit
one of Africa's most stable democratic governments. Repeated
droughts during the second half of the 20th century caused
significant hardship and prompted heavy emigration. As a
result, Cape Verde's expatriate population is greater than
its domestic one. Most Cape Verdeans have both African and
Portuguese antecedents.
Cape Verde is a group of 10 islands and 5
islets of some land: 4,033 sq km and coast line 965
km in total, situated off the coast of western Africa. Formerly
a Portuguese colony and now with a population of 420,979
(July 2006 est.) , it gained independence 5 July 1975 , and
was for centuries no more than a stop off point for traders
in the Atlantic Ocean. The land is mountainous and being
on the same latitude as Barbados is very hot with little
rainfall. The average air temperature is 22-27 degrees centigrade,
the water is 22-26 degrees and there are 10-12 hours of sunshine
every day. Cape Verde is proud of its eco friendly reputation
and its sands are an important nesting site for loggerhead
turtles, while humpback whales feed in its waters.
Country Facts
Location:
Western Africa, group of islands in the North Atlantic
Ocean, west of Senegal
Land Area: Land 4,033 sq km, Water 0
sq km Total 4,033 sq km
Land Boundaries: total: 0 Island
Coastline: 965 km
Climate: temperate: warm, dry summer;
precipation meager and very erratic
Terrain: steep, rugged , rocky and volcanic
Environmental Issues to consider: soil
erosion; deforestation due to demand for wood used as fuel;
desertification; environmental damage has threatened several
species of birds and reptiles; illegal beach sand extraction;
overfishing .
Population: 420,979 (July 2006 est.) 0-14
years: 37.9% (male 80,594/female 79,126)
15-64 years: 55.3% (male 113,450/female 119,423)
65 years and over: 6.7% (male 10,542/female 17,844)
(2006 est.)
Government Type: republic
- Capital City Praia. Country districts:- 17 municipalities
(concelhos, singular - concelho); Boa Vista, Brava, Maio,
Mosteiros, Paul, Praia, Porto Novo, Ribeira Grande, Sal,
Santa Catarina, Santa Cruz, Sao Domingos, Sao Filipe, Sao
Miguel, Sao Nicolau, Sao Vicente, Tarrafal
Legal System: derived from the legal system
of Portugal
GDP is $2.99 billion (2005 est.) GDP
per capita $6,200 (2005) and growth rate 5.5% (2005
est.) with inflation running at 1.8% (2005 est.)
Why Buy In Cape Verde?
Cape Verde is a group of 10 islands and 5 islets of some 4,500 square kilometres total, situated off the coast of western Africa. Formerly a Portuguese colony and now with a population of 450,000, it gained independence in 1975, and was for centuries no more than a stop off point for traders in the Atlantic Ocean. The land is mountainous and being on the same latitude as Barbados is very hot with little rainfall. The average air temperature is 22-27 degrees centigrade, the water is 22-26 degrees and there are 10-12 hours of sunshine every day. Cape Verde is proud of its eco friendly reputation and its sands are an important nesting site for loggerhead turtles, while humpback whales feed in its waters.
Why Buy In Cape Verde?
Until recently Cape Verde could only be reached by the more determined traveller, as it needed at least two flights to get there. However with the opening of a new international airport at Praia, the capital, and the starting of direct flights from the UK in late 2006, the region will open up to all travellers, as an all year round destination.
The Republic of Cape Verde holds elections every 5 years, and all political parties are pushing for an increase in tourism as the way to move the economy forward. The economy itself grows ever stronger with inflation below 1.4% in each of the last 6 years and growth running at 6%.
Properties in Cape Verde today are typically £35,000 for a studio, £55,000 for a one bedroom apartment, £85,000 for a luxury 3 bedroom apartment, and due to the restrictions imposed in this eco friendly paradise these properties have typically seen a 30% rise in value in the last 12 months. This same growth rate is predicted to last for the foreseeable future.
There is strong movement amongst certain European politicians to bring Cape Verde in to the European Union, so that the organisation will be seen to technically have a foothold in Africa. If this happens property will prices will once again soar.
Property investment in Cape Verde is fairly restricted to off plan purchases, but for the reasons mentioned above any investment should prove very profitable.
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Useful Information: |
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Time Difference: -1 GMT |
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Currency: Cape Verdean escudo (CVE) |
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Flying Time: 5 1/2 Hours |
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Visa Required: Visa Required: Yes (Get on arrival) |
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Major Airports: Sal, Praia & Santiago |
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Work Visa Required: Yes |
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Dialing Code: 00 238 |
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Electricity: 220V/50Hz |
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