Sal’s Real Estate Market in Pictures
Real estate investment Sal, which is indeed Cape Verde’s most visited island, has undergone great growth in recent years. From a quiet fishing village, it has grown into a popular tourist destination, with beautiful beaches, luxury resorts and a thriving nightlife. This growth has with no doubt influenced Sal’s real estate market.
Price Reviews on Sal
Property prices on Sal have slowly increased in recent years, especially in popular coastal areas such as Santa Maria. Although exact prices can vary greatly depending on various factors such as location, size, features and building quality, you can generally rely on certainties such as:
For apartments, you will pay between €65,000 and €130,000 for a studio on average. Luxury apartments with sea views can easily cost more than €300,000. Detached villas usually start from €450,000, but for exclusive villas in gated communities you can ask our team of BEL-SAL group.
Market Trends on Sal
Demand for property on Sal is high, driven by both local and international buyers. The island’s appeal as a tourist destination, combined with the expectation of future appreciation, is what’s driving this interest. However, the limited supply of both new construction projects and existing properties is what’s driving up the asking price.
More and more investors are seeing the potential of holiday rentals on Sal and are choosing apartments or villas more or most suitable for tourists. Besides established tourist centers such as Santa Maria and Palmeira, new areas such as Murdeira and Ponta Preta are also being developed, offering interesting investment opportunities for many.
Best Locations for Property Investment on Sal
The most optimal location for your Sal real estate investment obviously depends on your personal preferences and investment goals. But here’s a breakdown of popular areas:
- Santa Maria: The bustling heart of Sal, with a lively atmosphere, numerous restaurants, bars, and shops. Ideal for investors seeking high rental yields.
- Palmeira: A more calm and exclusive destination with pristine beaches and luxury resorts. More suitable for investors looking for a second home or a high-end holiday rental.
- Murdeira: An emerging area with a beautiful bay and various new developments. Perfect for investors seeking a project with growth potential.
- Ponta Preta: Known for its excellent surfing conditions. A good choice for investors interested in surf tourism.
Tips for Buying Property on Sal
- Thorough Research: Its important to become well-informed about the local market, regulations, and different areas before making a purchase.
- Local Real Estate team: An experienced local agent can assist you in finding the right property, negotiating the price, and navigating the buying process.
- Property Valuation: Have the property appraised by an independent valuer to determine its worth.
- Legal Aspects: Ensure all legal documents are in order and there are no outstanding debts on the property.
- Holiday Rentals: If you plan to rent out the property, question about the necessary rules and permits.
Interesting investments are charming and relaxing
Real estate investment in Sal offers compelling opportunities for both beginner and experienced investors. The island’s enduring appeal and steady market growth make it an attractive prospect. By performing thorough research and seeking the right guidance, you can make a successful investment on this charming island. Ask our team of BEL-SAL group of mail us welcome@bel-sal.com
