Romanians start investing in real estate properties in Cape Verde exotic archipelago

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Real estate investors are more interested in the tourist development opportunities on Africa’s western coast, in  a tropical paradise, where there is summer all time of the year.

According to RE/MAX Romania real estate developer, four properties here have been bought by Romanian clients in the premium resorts of Cape Verde.

Cape Verde has seen tremendous rises in the number of tourists in the past years, expecting doubling the number of visitors by 2024. Luxury real estate developer The Resort Group PLC have started an investment comprising four concluded five-star real estate projects and two ongoing ones.

Until now, four apartments worth over EUR 190,000 each have been bought by Romanian investors.

All rooms, apartments and villas are sold separately, registered under an unique legal title, meaning the investors will be the legal owners and will be able to decide how he will manage the property, to use it as a holiday home or to rent it. To facilitate the work of the new owner, the developer will provide a renting programme of the hotel that will manage the property and tourists, on the owner’s behalf. The investor is free though to manage its property, to set the leasing rate per week, etc.

The developers of the resort Group guarantee a return of 5% for the properties in their portfolio. At the same time, investors/owners will benefit a customized all inclusive holiday package of five weeks a year, if they rent the property.

The cost of the properties is ranging from EUR 150,000/one apartment up to EUR 600,000 for a 5-bedroom villa.

The first projected, MeliaTortuga Beach resort was concluded in May 2011, and the second one, Melia Dunas Beach Resort&Spa (over 1,200 rooms) has been operational since 2014.

There are also two hotels for adults, Tui Sensimar Cabo Verde and Melia Llana Beach Resort&Spa, which were opened in December 2016, both providing hotel rooms, tropical pools and spa facilities. The two hotels comprise over 600 rooms and can accommodate over 43,000 tourists per year.

Two other luxury tourist projects are underway, on Boa Vista and Santiago islands.

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