Cape Verde named in 'Where to buy in 2009'

Investors should take advantage of lower prices in property markets, claims magazine

People should not be put off investing in foreign property due to the financial crisis, it has been claimed.

A Place in the Sun magazine states that periods of economic difficulty come with a "silver lining" for Overseas Property buyers who have cash at the ready, as prices become more competitive in desirable markets.

The magazine explains that discounts of up to 30 per cent are available at some agents, with established "luxury villas" and new off plan developments available at "dramatically reduced prices".

In addition, the current economic situation in the UK means that a growing number of British people are expected to move abroad, or at least buy property in a country with a lower cost of living and warmer climate.

Mark Bodega, director of currency specialist HiFX, commented recently: "With the UK economy in turmoil, the housing market plummeting and the hope of better job opportunities abroad, more and more Brits are considering emigrating."

A Place in the Sun has named Cape Verde in its 'Where to buy in 2009' list, describing the west African archipelago as "a Caribbean paradise without a long-haul flight".


03 / 12 / 2008
macauhub