Invest in Cape Verde
General information of Cape Verde
The Cape Verde archipelago is located approximately 375 miles (604 km) off the coast of West Africa.
It is composed of 10 islands (of which nine are inhabited) and 8 islets. The islands have a combined size of just over 4,000 square kilometers.
The islands are divided into the Barlavento islands: Santo Antão, São Vicente, Santa Luzia, São Nicolau, Sal, and Boa Vista; and the Sotavento islands: Maio, Santiago, Fogo, and Brava. The largest island, both in size and population, is Santiago, where the capital of Praia is located.
Though Cape Verde's islands are all volcanic in origin, they vary widely in terrain. A still-active volcano on the island of Fogo is the highest point on the archipelago (elevation 2,829 meters). Extensive salt flats are found on Sal and Maio. On Santiago, Santo Antão, and São Nicolau, arid slopes give way in places to sugarcane fields or banana plantations spread along the base of towering mountains.
Cape Verde’s climate is milder than that of the African mainland; because the island is surrounded by the sea, temperatures are generally moderate. Average daily high temperatures range from 25 °C (77 °F) in January to 29 °C (84 °F) in September.
Cape Verde is part of the Sahelian arid belt and lacks the rainfall levels of West African countries.[8] When it does rain, most of the rainfall occurs between August and October, with frequent brief-but-heavy downpours. A desert is usually defined as terrain which receives less than 250mm of annual rainfall. Cape Verde's total (261 mm) is slightly above this criterion, which makes the area climate semi-desert.
Real estate investment in Cape Verde
The economy of Cape Verde is service-oriented, with commerce, transport, and public services. Since 1991, the government has pursued market-oriented economic policies, including an open welcome to foreign investors and a far-reaching privatization program. It established as top development priorities the promotion of a market economy and of the private sector.
Cape Verde's strategic location at the crossroads of mid-Atlantic air and sea lanes has been enhanced by significant improvements at Mindelo's harbor (Porto Grande) and at Sal's and Praia's international airports. A new international airport was opened in Boa Vista in December 2007. Ship repair facilities at Mindelo were opened in 1983.
This growing economy plus great tourist attraction from the Cape Verde islands are the main reasons for deciding to invest in real estate developments.
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