Cape Verde Property Investment

Across the global property market, Cape Verde is most notable for its popularity among retirees, particularly expatriates from Europe. Industry observers note that for the last several years, the number of aging people who are deciding to take retirement homes at the island country has been constantly growing. This could be because of the fact that Cape Verde has been marketed as an ideal Caribbean alternative.
To many retirees and immigrants, this country is even better as there is definitely very low cost of living. Tourists and regular visitors could attest that Cape Verde contains almost all the advantages of the Caribbean, coupled with the nation’s similarities mostly to the European financial system. All natural elements of a dream property investment market are in here: fantastic weather, pristine blue seas, and freshest and coolest ocean breeze. The Euro mortgage system, which is very much in use here, makes more real estate prospective buyers from all over the world swoon to this tiny paradise in the middle of great seas.
Cape Verde is no more than an island cluster located off the African continent’s western coast and north of Atlantic Ocean. It has been classified as among the world’s developing countries after it emerged out from the list the Least Developed Nations. As of 2008, estimated population is about 500,000. Up to 71% of total population is comprised of Creoles, or a combination of Portuguese and black African descent. Common language used is Portuguese because the country had been a Portuguese colony from the 15th century until 1975.  
The local currency is escudo. A single escudo, like others, is divided into a hundred centavos. Money analysts attest that escudo is not in any way a hard currency, though it surely is stable. Since 2002, it has been pegged comfortably to the Euro. Property investors, tourists, and immigrants could also rave about the fact that most major businesses and establishments in the area accept Euro and US dollars. Banks are heavily concentrated at the capital of Praia and are also scattered across main towns. Converting currency to escudo is considered illegal and risky as many fake international notes proliferate across the black market.
Economy is service oriented, mostly dominated by transport, public services, and commerce. Agriculture is not fully developed because of limited fresh water and scant rainfall. Tourism is also thriving as many vacationers love it here because ocean breeze is very cool and weather is almost always pleasant for outdoor activities.
As for culture, cultural and social patterns are identified with those in Africa and Portugal. People in the island nation mostly rely on church activities and soccer games for leisure, entertainment, and social interaction. Aside from Portuguese, Africa, Caribbean, and Brazilian influences are very evident. Music and literature are also very well developed. It also helps that Cape Verde has been a stable democracy for it to further lure more property and business investors. The government has cooperative relationship with the US, Spain, Russia, Germany, France, Brazil, Cuba, and even China.

Every Cape Verde investment property could be good buy. Investment property clubs assert that despite high demand, many investment properties could still be bought at below market value. Any investor could surely find discount property across specific and strategic areas in the island country.