Investment
Cape Verde property investors on road to success
By Assetz® Property News Service - When it comes to investing in property overseas, the issue of accessibility is a key one. For all that a property may look attractive, could be near good amenities, may enjoy fine weather and lie close to impressive scenery, none of that will count for much if it is hard to get there. For those looking to get away to a second home, a tough journey will make the proposition less attractive. The same will apply to holidaymakers who could potentially rent such a home, who may prefer to stay closer to the beaten track.
For this reason, the benefits of being close to good links are obvious. Easy access from airports, ferries and the channel tunnel, not to mention good road and rail links, are all advantageous.
This was pointed out last month by property editor for BuyAssociation Paul Collins, who said that the development of infrastructure in some emerging markets has lagged behind the arrival of new property developments. For this reason, he flagged up the creation of a large new ring road enabling motorists to circumnavigate the island of Sal in the Cape Verde archipelago as a major boost.
He stated: "In terms of overseas property it tends to be that people like to buy within an hour's drive of an international airport," explaining that for Sal this means that more places will now be accessible within this time frame, something that will not only bolster existing developments but also encourage the creation of new ones.
For this reason, investors in Cape Verde may be very interested with news of another road project being completed. This one, on the island of Santiago - where the capital Praia is located - involved $3 million (£1.83 million) in funding from the US government via the Millennium Challenge Account Cape Verde, Macauhub reports.
The road, which will open this weekend, stretched 10km between the districts of Sao Lourenco dos Orgaos and Santa Cruz, something that may open up those two areas. Investors may also be keen to note that the Millennium Challenge Account has set expected dates for the completion of two more roadbuilding projects in Cape Verde due next year. These will be the Assomada to Rincao link in July and Cruz Grande to Calhetona in December.
So while the airlines and airports are essential for anywhere to be within an hour's drive of them to start with, so too is having something to drive on. That much may be stating the obvious, but for investors in Cape Verde, the need for these to exist is now becoming a reality and one which may help create some exciting new possibilities.
