Located west of the African coasts, just a few hours' flight from Europe, Cape Verde is attracting more and more attention. The volcanic archipelago composed of ten islands offers a magnificent natural setting, rare political stability on the continent and ideal climate year-round. But beyond its postcard landscapes, the country is now establishing itself as a promising real estate investment destination in a market that is still young, in full structuring, where opportunities are numerous.
A solid economy that attracts capital
For several years, Cape Verde has been experiencing a major economic and urban transformation. The state is betting on the development of tourism, infrastructure and residential housing. Successive governments have established an openness-oriented policy: facilitated reception of foreign investors, simplified administrative procedures, and modernization of port and airport infrastructure on the main islands.
This strategy is bearing fruit. In 2024, the International Monetary Fund (IMF) forecasts economic growth of around 6%, confirming the country's resilience and attractiveness.
At the same time, foreign direct investments (FDI) have crossed the 3.4 billion CVE mark, or nearly 31 million euros in the third quarter of 2024, according to Trading Economics data. Result: a real estate market in full growth, particularly on the islands of Sal, Boa Vista, Praia (Santiago) and Mindelo (São Vicente).
A real estate market still accessible
The average price per square meter remains attractive compared to European standards. For example, an apartment with sea view in Sal or Boa Vista is negotiated between €1,200 and €2,000/m², when an equivalent property in Portugal or the Canaries can reach double, or even triple. Traditional houses to renovate, for their part, offer excellent profitability prospects for long-term investors.
The rise of high-end tourism (villas, hotel residences, tourist accommodation) also contributes to supporting rental demand, especially in coastal areas. More and more Cape Verdean and foreign developers are betting on mixed-use residences, combining tourist accommodation and residential housing, with rental yields oscillating between 6 and 10% per year depending on the areas.
Reassuring political and legal stability
The land registry is reliable, property rights are guaranteed, and transactions are carried out transparently, often with the support of a local notary.
Foreigners benefit from the same acquisition rights as nationals, without property restrictions. Transactions are carried out in Cape Verdean escudos (CVE) or euros, according to agreements between the parties. Acquisition costs are also reasonable, generally between 3 and 5% of the property price (notary, registration, taxes). In addition, taxation remains light: the annual property tax is low and certain projects benefit from exemptions in the context of tourist investments or local development.
The most attractive areas
Sal
The tourist heart of the country. This is where the major resorts, hotel complexes and luxury residences are concentrated. Ideal for investors oriented towards seasonal rentals or hotel programs.
Boa Vista
The island of white sand and emblematic beaches. A market still young, with strong potential for appreciation in the next five years.
Praia (Santiago)
The capital, dynamic and administrative. The market there is more urban, with growing demand for modern apartments and office buildings.
Mindelo (São Vicente)
The cultural pearl of the country, on the rise. Residential projects and medium-standing investments are particularly profitable there.
The Cape Verdean diaspora: a major player
One of the drivers of real estate investment in Cape Verde remains the diaspora, particularly established in France, Portugal, the United States and the Netherlands. Many want to build a family home, acquire rental property or return to invest in their country of origin.
It is this diaspora that Neo Immo particularly supports, by offering them reliable, transparent and digitized access to the Cape Verdean real estate market.
Thanks to our network of partner agencies, certified developers and local experts, Neo Immo allows you to market, buy or manage a property remotely, in complete security. Our platform is establishing itself as the first real estate portal dedicated to Cape Verde, combining visibility, support and technological innovation.
Cape Verde is no longer just a vacation destination: it's a territory of the future, where real estate and tourism meet. For investors, it's the ideal time to position themselves on a market that is still accessible, but in full development.