Cape Verde property investments tipped by agent

Foreign investors are making the island of Maio in Cape Verde a popular location for property, an agent has claimed.

Noscasa said that foreign funds, some of which could have been made through international money transfers, were "flooding in" to the region.

According to the agent's analysis, land and property are both comparatively cheap across the archipelago.

The report added that both holiday home investors and business people are opting to invest in the island.

Paul Akwei, managing director of Noscasa, said: "This is the island where wealthy Cape Verdeans are now looking to buy property because of its secluded beauty and close connections to capital city Praia which will allow easy connection to their business interests.

"Cape Verde is already established as a paradise destination for tourists and holiday home investors but the level of international investment it is now attracting demonstrates that it is fast becoming much more than that."

The islands, a former Portuguese colony which declared independence in 1975, is located off the west coast of Africa.

Time difference with mainland Europe is minus one hour.

Posted by Tom Papworth