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19 Dec 2008

Cape Verde For As Little As 26,568 Euros

morabeza beach resort santiago cape verde


In wallet-cautious times only the best overseas property investments will garner any attention, and in Morabeza Beach Resort we like to think we can capture it. This beachfront haven on the palm-fringed Cape Verdean island of Santiago has tempting payment terms which even the most tentative investor would struggle not to fall for – a substantial 85% of the cost is delayed until completion at the end of 2010, and even then you can take a mortgage…


Andy Welland, Managing Director of GEM Estates explains the deal, “Santiago is becoming increasingly popular with tourists keen to experience a mixture of culture, adventure and beach relaxation. The government is following the path of luxury when deciding which developments to give planning permission to and these cannot complete soon enough as there is a real scarcity of accommodation on the island. The existing handful of hotels and pousadas are running at full occupancy so the developers of Morabeza Beach Resort are able to confidently offer a two year rental guarantee at 6%. We’ve also negotiated 10,000 euro’s worth furniture free and buyers will only need to pay 15% now with nothing further required until completion at end of 2010 when an 85% LTV mortgage is available subject to status. With prices from just 177,120 euros for a two bedroom apartment this means you can participate for as little as 26,568 euros.”

Set directly on São Francisco beach, Morabeza Beach Resort is low-density (20% build volume) but high-quality and made up of apartments, villas and a four-star boutique hotel. Residents can indulge in the on-site restaurant, bars, fitness suite, tennis courts and convenience stores or simply wander down to the half-moon shaped bay quite literally at your feet. And, being the largest of the Cape Verdean islands, Santiago has much more to offer than just beach. Explore the lush mountainous interior by 4x4, swing a club on several golf courses nearing completion, get up close and personal with shipwrecks and turtles on a diving excursion or soak up the culture in the Medieval town of Cidade Velha.

The international airport at Praia is just a 15 minute drive from Morabeza Beach Resort and handles direct flights from several UK airports as well as the Portuguese capital, Lisbon. Tourist arrivals to the archipelago are leaping up by 25% annually but with only 250,000 visitors each year versus a mammoth 10 million a year for the Canary Islands you can see the potential for growth is tremendous.

With GEM Estates’ exclusive payment terms, beachfront heaven is now accessible for everyone. But with only 16 units carrying this tantalizing package, it’s time to get your skates on.

News submitted by Sarah Drane, GEM Estates

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