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Expatriate Insurance News: Sal in Cape Verde 'is up-and-coming location'

Expat health insurance customers may be some of the people who have moved to the island of Sal in Cape Verde.

Around 90 per cent of all property purchases occurring in the archipelago are in this location, Cape Verde Property managing director Adrian Lillywhite claimed.

Therefore, there are now "about 15 different nationalities living there", enjoying its "chilled out atmosphere", he added.

It has bars, restaurants, beaches and the country's main airport, with infrastructure rapidly improving and utilities and roads currently being built.

The expert said property purchases are presently being undertaken by "two main sorts of clients".

One is "the pure investor", who is less likely to want to stay in the county and would therefore be interested in buying hotel-style sites.

Other purchasers are "the lifestyle buyer", or those who wish to have a place in the sun, "either right on the beach or very close to it".

These people may occasionally rent their assets but generally purchase these buildings for their own use, Mr Lillywhite asserted.

Good property investment opportunities can be found at the south of the island of Sal, particularly near or just outside the "lovely little tourist town of Santa Maria", as well as in places where "new upmarket five-star south-west coast developments" have been established.

These two locations are very different from each other but both have "great potential" and are currently in demand, the professional declared.

He pointed out that discounted rates are available, even for buildings of a particularly good quality.

A new tourist destination has opened on the island of Boa Vista, indicating this location also has investment potential.

It is "starting to come into its own" after the launch of the Santa Monica Beach Resort, which is located on a shore that was voted as the best in the whole continent, Mr Lillywhite stated.

The country's major industries include fishing, clothing, beverages, building materials, ship repair and tourism, the US Department of State notes.

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