Cape Verde Beach Resort
Cape Verde
| Completion |
March 2009 |
| Status |
Available |
| Price From | 89,000 EUR |
About the Development
** PRICES TO INCREASE BY 10% AT END OF SEPTEMBER 2007 **
5 star hotel & beach resort at Ponta Preta Beach, close to Santa Maria on the Island of Sal. One bed apartments & 2/3 bedroom townhouses available with guaranteed leaseback of 5% for three years. Fantastic investment opportunity from just £60,000 (€89,000).
* 5 star beach front resort
* 1 mile from planned Ernie Els golf complex
* 5% per annum leaseback guarantee (3 yrs)
* Excellent "pre-release" investment opportunity
Leaseback - 5% For 3 Years
The developer is offering a 5% leaseback for 3 years following completion of these units. No contract has been provided as yet for this guarantee and whilst we have no reason to believe that this guarantee is in doubt, experience has taught us to approach such offers with caution. We are currently lobbying the developer to ask them to consider making the guarantee form part of the initial promissory contract. We will advise you further as soon as we hear something positive in this respect.
Notwithstanding the lack of a contract for the guaranteed rental, we do not feel that this inhibits the attractiveness of this opportunity to any great extent given the excellent location, quality and price of the units.
Exclusive Units
We have secured some excellent units in prime locations on this development exclusively for our clients.
Cape Verde Beach Resort:
We are convinced that Cape Verde Beach Resort on the island of Sal offers the very best location in the Cape Verde Islands.
It is located one and a half miles from the main town of Santa Maria and just 11 miles from the international airport, which has direct flights from Manchester and Gatwick.
It is also possible to fly direct from Lisbon, Amsterdam and Paris.
The resort will contain a 5 star hotel which will provide all of the facilities you would expect from such an establishment including shops, bars, restaurants, swimming pools, fitness centre. These facilities will all be available for use by property owners and their tenants.
Cape Verde Beach Resort will be managed by a well known brand name, therefore creating a ready made rental management and leaseback opportunity.
The development will have swimming pools, bars, restaurants and shops as well as the luxury hotel.
The site itself runs right onto the beach; to the south there is a protected zone and to the north a site for a further 5 star resort.
Just 5 minutes away are the planned Ernie Els golf courses and a water park. With unspoilt beaches and a position close to the town and new golf course, this will be a popular site and one of the best plots available in the South of Sal.
Santa Maria:
Just 1 1/2 miles away is the town of Santa Maria, the "tourist capital" of Sal island, which provides further facilities including more shops, bars and restaurants for guests to visit.
Why Cape Verde?
The Cape Verde islands are on the same latitude as the Caribbean but 1000km west of Africa.
However this is not the Caribbean nor is it Africa. This archipelago consists of nine former Portuguese run islands, including Sal which is the most popular for tourism.
Cape Verde has experienced significant economic growth in recent years. It’s GDP grew at a real average rate of 8.3% from 1997 to 2001. Trade agreements and the increasing tourism industry mean this growth is expected to continue.
Foreign investment increased from US$ 4 million in 1990 to US$ 228 million in 2004. Tourism has been the major source of foreign investment.
The year round sunny climate, beaches, diversity of scenery and limited development, make Cape Verde a great tropical getaway, with Sal being it’s predominant leisure and tourist destination.
Increasing Infrastructure
There has been a significant investment in tourism related infrastructure, with the upgrading of the international airport on Sal and the inauguration of the Praia international airport.
The imminent innauguration of international airports on the islands of Boa Vista and Sao Vicente are also a sign of Cape Verde’s commitment to their future tourism.
Sal Island:
Direct flights from the UK to Amilcar Cabral International airport (Sal International) have been taking place since 2006.
Sal is the most developed of the Cape Verde islands in relation to tourism, with around 50% of visitors staying on Sal.
Hotel demand on Sal has been driven by the international airport and the islands development as Cape Verde’s main beach-based tourism destination.
It enjoys a very stable climate with year round sunshine.
This tropical island is only 34km by 12km, but boasts white sandy beaches and crystal clear waters as far as the eye can see.
Santa Maria, the main tourist town is located at the south of the island, Espargos its capital is at the centre. With much of the new development happening along the sheltered west coast, there is a steady breeze from the northeast therefore meaning the east side of the island tends to be windier, from January to March.
There are plans for an Ernie Els 36 hole golf course, along with 5 star resorts on the west coast where long stretches of beaches are protected due to their natural beauty.
Payment Plan:
Reservation fee - (refundable if planning and land title documentation are not confirmed) £2,650, which includes £150 arrangement fee.
45% first stage promissory contract,
25% outer shell,
20% roof
10% completion
The £2,500 (reservation fee less arrangement fee) is deducted from the 40% stage.
10% discount on the prices is available for any client paying 70% at the first stage.
Approximate Costs Of Purchase
An estimate of the costs (in addition to the published purchase price) of purchasing in Cape Verde including all taxes, legal costs and notary fees is between 6 - 8% of the purchase price.
Units Available within the Cape Verde Beach Resort development
| Property Type | Beds | Price From Euros | Price From Sterling |
| Apartment | 1 | 89,000 EUR | 59,630 GBP |
| Town House | 2 | 215,000 EUR | 144,050 GBP |
| Town House | 3 | 285,000 EUR | 190,950 GBP |
