Vila Jardins do Oceano, Santiago
Filed Under Uncategorized · Tagged: Cape Verde Property, Santiago, Vila Jardins Do Oceano
- Vila Jardins do Oceano - Santiago island, Cape Verde: Computer Gererated Image
Before I review Vila Jardins dos Oceano, Santiago in Cape Verde island, lets look at what recent events mean for buying property in the Cape Verde islands.
Tourist diversification
Whilst sometimes I’m surprised the media don’t announce that the sun, against all odds, did in fact rise today, you could be forgiven in believing that no one is going on holiday or retire - or ever will again.
The reality is that some destinations will lose flights due to airline collapses. Recession worries are real, particularly for those in UK and Ireland. All these concerns highlight the need to buy where there is a well served international airport with many flights from many different destinations and that your visitors hail from many different countries.
One such place is Santiagio island in the Cape Verde archipelago off the west coast of Africa. As an ex Portugese colony it brings huge advantages compared to other destinations. There is a robust legal framework and there is a Portugese banking system actively approving mortgages for property investors.
Caribbean alternative
The advantages of Cape Verde islands are that you get much of what you like about the Caribbean, blue seas, all year round weather but also at a much lower cost of living than most of Europe and the USA.
Some property investors are looking ahead to Santiago island as an ideal place to live permanently or part of the year as a retirement destination. Santiago has an existing population and a mountainous and diversified landscape full of interest.
For European visitors you get around 5 hour flight time, no let lag and no hurricane season. Already most popular amongst German and Scandinavian visitors many flights are booked up well ahead. Santiago International airport is the main airport of the islands and has more flights from more cities than anywhere else.
Why Vila Jardins dos Oceano?
Its not often that I find a development that is low risk and such incredible value. All villas have sea views from their individual pool areas. Even the ones furthest away from the sea, 110 metres are closer than most other villas are from the sea.
Its low risk because:
- the due diligence is all done
- the first villas are less than six months from completion
- final villas complete in July 2009.
- CNBC AWARD: Best African Development
- Construction progress - September 2008
That’s right, completion July 2009. Many developments in the Cape Verde islands have ben very badly delayed. This is because they had not received the Cape Verde Investment authority approval, relevant planning permissions and/or proper land title.
Vila Jardin dos Oceano will be ready July 2009 and there will be no further building on the site.
Situated next to a soon to be assigned UNESCO world heritage site, I expect buyers of these villas will be amongst the most satisfied I have seen.
Prices
€239,000 for a 142.3 m2 net (including 64m2 of terraces) in a 431.3m2 plot to a
€399,000 188m2 villa (including 130.8m2 of terraces).
This compares to over €700,000 for comparable sized villas selling on Sal island and
Quality of construction and level of insulation is superior to anything else I have seen. The UK developers have impressive attention to detail so I recommend investors meet or speak to them personally before committing to fully understand why Vila Jardin do Oceano represents such good value.
So for a very low risk with high capital appreciation prospects, Vila Jardins do Oceano sets the Cape Verde standard. Call for full due diligence pack.
If you are worried about keeping cash in the bank these days, then its bricks and mortar like this that offers a sensible alternative - an alternative to be enjoyed for many years ahead.
If you want to find out more on Vila Jardins dos Oceano, Santiago then please register for due diligence guidance download. then email me: Lance at overseaspropertytalk dot com or call on 0044(0)113 3131000.
- Vila Jardins do Oceano, Santiago island, Cape Verde - Construction View
Hello, this is Lance Nelson and welcome to my blog, Overseas Property Talk - the authority on investing in overseas property.
Very informative article,
Tell me what do u think will prices rise in Cape Verde. And what will happen in next 2-3 years?
Hi Milos, as for prices - good question. At the moment its quite early in this emerging market so resales are yet to feature heavily. However, its the price of land that can be a good indicator. This is up threefold, or more, over the last three years. With higher build costs in the islands, I would expect a prime front line location development like this to increase in price by 30% to 40% in the next three years.
As always, its important to compare prices with location and, frankly, developer mark up variations mean that some will be less than this.
In addition, the comparisons have to be with other all year round destinations (Canary islands for example) where prices a re a lot higher than here for the equivalent thing.
Because tourism is still a fraction of other locations, then price increases happen when more and more people come for holidays - like it, check out the real estate - then buy.