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Cape Verde Real Estate Huge Investment Takes Place

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A new resort development is now under construction on the island of Sal, Cape Verde Islands. These islands, off the horn of Africa, are the closest tropical islands to the UK and are becoming a popular destination for holiday travelers and international real estate investors. Pedra de Lume is a spectacular new resort situated between the historic salt mines and white sandy beaches on Sal. News reports in indicate the investment in this resort will be some €280 million.

Pedra de Lume will offer over 2,000 units that will be constructed over the next several years. Homes are 1, 2 and 3 bedroom apartments and duplexes and three-bedroom villas, ranging in size from 63 square meters to 238 square meters. Prices are currently starting at €115,000, but it is expected that they will go up with increased demand. Because this island is becoming so popular, there is a shortage of property here and these units should also yield a good rental return. In addition to this new resort, which began construction this summer, there are several other newly built and under construction resorts on Sal.

The resort will have a marina, spa, wellness facilities, numerous luxury hotels, swimming pools and 18 hole golf course when complete. The development is five minutes away from Espargos, the nearest town, and five minutes from the Sal (SID) airport. There will numerous commercial and retail shops and restaurants in and around the development when it is complete, so residents will be able to get all they need here.

The major international airport on the Cape Verde Islands is Sal International Airport, or Amilcar Cabral International Airport, so getting here is easy and fast. Several airlines fly directly into the UK, including the national airline TACV and Thomsonfly.

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