Next Year's Cape Christmas Cracker?

Earlier this week, the Association of British Travel Agents (Abta) said that over 3.5 million Britons will be jetting off to the sun over the Christmas and New Year period. Among this small army of those leaving behind the cold and wet of the British winter to spend the festive season in the sun, the most popular destinations were the Canary Islands, Egypt and Goa.

As yet, the Cape Verde islands are not among the top destinations, but some may wonder how much longer that will be the case. Like the Canary Islands, Cape Verde is an archipelago off the west coast of Africa with an Iberian flavour. Unlike the Canaries, which are still part of Spain and an established tourist honeypot, the former Portuguese colony is still in the early days of developing as a tourist market.

In turn, the Cape Verde property market there is still emerging as well. Direct flights between the UK and the islands have only begun in the past year, with the national airline's route from Stansted, which commenced in October, being one example.

The result is that there are plenty of bargains, it seems, to be had, with low prices in a wonderland of varied landscapes from island to island, white sandy beaches and tropical weather.

For example, on the largest island of Santiago colonial-style two-bedroom townhouses by the Cape Verde beach house can be had in the Sambala resort for £130,000, the Daily Telegraph recently reported. It added that three bedroom villas or two bed apartments can be had in a new development on Sal Island for £152,000 or £95,000 respectively.

Real estate agency Noscasa has recommended the islands as an archipelago of sound prospects in a credit crunch-blighted sea. "Cape Verde represents the best investment opportunity in the overseas market that anyone is likely to find in 2008," managing director Paul Akwei stated, reports yourmortgage.co.uk.

The website notes that Noscasa has said some properties can be had for as little as £30,000, while more new airline services from Britain are on the way as UK airline Astraeus plans to add the new airport at Boavista to its Cape Verdean destinations in 2008.

It is impossible, of course, to know exactly what the next year will bring. But all the present indicators appear to show Cape Verde as a place where increasing access, growing tourist numbers and cheap properties all offer an exciting prospect for investors. It may even be that this time next year, or in 2009, Abta's press release about Christmas getaways will list the islands as one of the leading destinations. If so, there may be plenty of wise investors enjoying good returns on buy-to-let beside the perennially sunny beaches.

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