Cape Verde Property Buying Guide
1) WHY you are buying
Before you looking at a property in the Cape Verde islands make sure you thing about why you are buying property in the islands? Is it as a investment (Capital gain or Rental Income), Holiday Home or maybe a permanent home. Also, what do you want the property to have? How many bedrooms, type of property, terrace, private or public swimming pool etc. REMEMBER: If you are buying a property as an investment you must become emotional detached from the purchase process. It does not matter what you want, all that matters is what you think other buyers will want. Get as much advice as possible.
2) Understand what you are signing
The national language in the Cape Verde Island is Portuguese; as a result all development contracts are in Portuguese. Our advice is if you Portuguese is a little rusty enlist the help of a qualified and registered translator to make sure that you know exactly what you are signing.
3) Get yourself a local solicitor
Conveyancing in the Cape Verde islands is very similar to the rest of Europe. You should appoint a local Portuguese-speaking lawyer to help you through every step of the buying process. Your lawyer will act on your behalf to check ownership, check building plans, and take the property to the final notary. It is very important that you feel comfortable with your lawyer and have a strong bond of trust.
4) Use the information available at the town hall
The Town Hall is an excellent source of information for town planning and future development.
5) Buying off plan
check the contract for What materials were used during construction, were they good quality Building guarantees on completion dates? Does the finished build include fittings, kitchen, curtains etc? Does the property come furnished? Are there any guaranteed rental schemes? What is the building timescale? Are there any builder penalties for late completion? What is the schedule for payment?