Wed, 28 Nov 07
Sambala, the leading luxury resort and property developer in Cape Verde, reveals ten reasons why now is a good time to invest in Santiago Island, to achieve maximum returns...
A stable economy and good governance
The economy of
The state offers tax exemption grants for a period of five years to foreign investors. Investors can also benefit from the currency being linked to the Euro, which will enable buyers to take advantage of Euro mortgages, available next year.
The first phase of the Sambala development, Sambala village, quickly sold out earlier in the year, while the second, Viviendas de Santiago sold all of its 41 private villas and has just a few townhouses left.
Property prices have already increased by 15% since 2006, and under the backdrop of strong economic growth and a fast growing tourism industry, average property price is expected to soar by over 75% in the next five years.
The authorities have approved projects totalling $300 million, which has been invested in two new internationals airports, roads, energy resources and education.
Top tourist hotspot
Low bed stock
With only two hotels on the Island,
An Atlantic paradise
The island is rich in African heritage and culture. The average annual temperature is 24oC and there are over 300 days of sunshine per year. The unusual and startlingly beautiful landscape lends itself to a range of activities including bird watching, paragliding, mountaineering, diving and game fishing.
The island’s unique biodiversity means development has to be carefully planned. For example, Sambala resort will be powered by green energy, which will be generated by solar, wind and bio-fuel. Sambala is currently testing a small plantation of Jatropha, an indigenous plant in
Dominic McGlynn, Vice Chairman of Sambala Resort comments: Until recently,
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