Regarding my property purchase in Murdeira Beach resort, Sal island Cape Verde & the current financial storm.
In my opinion for what it’s worth is that Cape Verde is unlikely to feel the force of a financial hurricane but like its stable climate will feel no more turbulence than a tropical breeze.
The main reason for my optimism is unlike the prospects of the UK and much of the rich world, prospects within the Cape Verde archipelago have never been better.
The reassuring difference
Cape Verde property market is still in its infancy and so it has not had time to develop an over inflated property bubble. In fact it is the only emerging property market that I have researched that over the last 5 years has not been driven by at least one of these factors.
1. Low interest rates
2. Easily obtainable mortgages
3. Super attractive payment plans such as pay no more than 5% of the purchase price until completion.
I for one find this very reassuring as average property prices have been rising in Cape Verde but not as a result of financial instruments distorting the market but from genuine progress.
Average resale prices in Murdeira Beach Resort are currently being priced 20% higher than the original purchase price.
I also believe that this level of progress is sustainable and set to continue and the global recognition that Cape Verde seems to be achieving makes me think that I am not the only one that is optimistic about the future that lies ahead.
If you would like to share your thoughts on this development or any other relevant topic please contact us at info@murdeira.co.uk