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Are you planning to sell overseas property in Cape Verde in 2019? Is this the right time to be selling overseas property in Cape Verde? Let’s find out!
The State of the Overseas Property Market in Cape Verde
First, you should know that Cape Verde has two main groups of islands - The Barlavento Islands and the Sotavento Islands. Property prices in Cape Verde vary from one island to another.
So, property prices are likely to be high in Sal, the biggest of the Barlavento Islands, well known for its charming beaches, stunning natural beauty, and noisy markets.
Home prices are also going to be high in islands such as Santiago, the largest island in all of Cape Verde. Other popular overseas property destinations in Cape Verde are Praia and Boa Vista.
The overseas property market in Cape Verde is remarkably stable, not prone to the ups and downs that you see elsewhere in Africa, such as in Tunisia and Egypt. The only issue is the oversupply of housing stock because of the over enthusiasm of real estate developers here.
They have built far too many beachside properties with the expectation that tens of thousands of foreign buyers will look to invest in a second home in Cape Verde. That hasn’t happened as yet, mainly because of the dismal state of the global economy. As a result, supply is far greater than the demand as far as the property market in Cape Verde is concerned.
Regardless, Cape Verde has a lot going for it. For one, it is a stable democracy and has a flourishing economy. It offers the best quality of life in Africa. The people here are well educated, friendly and clearly better off than those in other African countries.
There is an atmosphere of peace and tranquillity here, and no serious crime of any sort. That is why there are many takers for overseas properties in Cape Verde from European buyers, especially from the UK, Sweden, Norway, Germany and Russia. It also helps that Cape Verde is well connected by flight to most countries to London, Paris, Dubai and other important cities across the globe.
Things You Should Know About Selling Your Overseas Property in Cape Verde in 2019
A typical overseas property in Cape Verde should fetch anything from £80,000 and above, if it is a beachside apartment, and £250,000 and above, if it is a beachside villa.
How much you’re going to get will depend on factors such as the island, location within the island, availability of modern amenities, whether there are any quality schools nearby, hospitals, etc.
The key to selling your overseas property in Cape Verde fast in 2019 is to hire the services of an overseas property expert.
You cannot really expect a local Cape Verde estate agent to put you in touch with serious cash rich buyers from Russia, China, UK, or the Middle East – they just don’t have the expertise for that.
An overseas property specialist will know how to market your property in the right channels and catch the attention of the serious international investors. They make sure that you get the best possible price for your overseas property in Cape Verde in 2019.