Buying something at the right price without taking into consideration other things like where it is situated, what is going to change around the building, whether there are mains facilities or if you can let it easily.....amongst many more things ...is not going to be brightest thing you have ever done! Read on ...
On Boavista Island there are many more buildings than there were several years ago and new resorts and hotels are due to be built in the coming years.
You will need to consider whether you want something on the west coast on a large development or something in or around Santa Maria town or alternatively, on the east side of town.There is a lot to choose from, but many more things to consider. Everyone has some opinion as to which is/could be the best investment from personal experiences, but everyone's experiences will be different.
If you have seen projects advertised, the artist's impression will provide you with a picture of how they should look when they are finished. If you arrive here to look at where they will be built it may be hard to imagine the finished project but you will have been to see the island and have a better understanding of where buildings will be situated in relation to the town and other developments on the west and east coast.
You may prefer to look at properties that have already been built in Murdeira Village which is about 15mins drive out of Santa Maria or on some of the bigger resorts.
Alternatively you may want to consider something Espargos or Palmeira, although I personally don't know anyone that has bought in these areas.
These are being built in smaller, mid size and larger developments or in the town of Santa Maria. Those looking to set up business and import goods may want to consider buying a plot of land to build on. There are also some large storage units built and rented out near the port in Palmeira.
These are sometimes organised by developers, a way pfway of looking at specific property on an island in view to purchasing a unit off them.
There are larger developments being built from the southwest side of town up to Murdeira Village. Work started on some of them in 2006 and 2007 and have either been completed or partly completed and include Dunas, Tortuga, Vila Verde, Paradise Beach. Some developments will be on the beach front, some buildings/apartments will have sea views, while others won't. There is a mixture of property types such as villas/apartments/town houses etc.
The development continues along Hotel Boulevard. The Sal Hilton hotel is due to open in November 2016 and will have a casino. The Djadsal Holiday Club is being demolished and will be replaced with a modern building project. The New Horizons is well on it's way and other improvements and projects are already planned.
There are a number of apartment blocks with apartments for sale, re-sale. There are also some off-plan properties for sale.
It really depends on what you think you are looking for. Counting back from the front line, I counted 20 plots to the furthest back row.
There is a new square being built on the east side, this will improve that area by providing some other commercials and bars I understand.
Where some owners bought property which was previously called the 'front line' have now had other projects built in front of them on the beach on the east side of Santa Maria. Other projects are also due to be built there.
You may want to consider the trade winds when looking for property. The east side of town is the more windy side, with winds coming from the north east. The winds get stronger from November into the winter months. You should consider this when looking at buying north east facing property; you may not be able to open the windows on the north side during the winter winds, unless you want to have sand or dust in the apartment! This may not be as bad if you are surrounded by other buildings.
There are a number of old houses on all the islands, some very poorly built. Some have been on the market a long time or are incomplete, over priced,near local bars, without mains water supply, small hut type building, have a tin roof, without bathrooms/bedrooms, refurbished and been made into apartments, showing signs of salt creeping up through the brick work and floors.
There are more colonial type buildings on the islands of Santiago and Sao Vicente than other islands.
If you have a shared communal roof, make sure you understand how this shared use is managed. Also, if its used for drying washing. If you rent your property then other owners of units in the same buiding may not agree to access to the roof by those renting your apartment.
Some investors are buying plots of land then looking to pay a developer to build on them.
Do you know what is going to be built next to your plot?
Some people may not want to build a villa on a plot amongst the local unfinished houses. You may end up with a block of apts being built next door with the apartment balcony's overlooking your patio.
The best thing for you to do is to come and visit the islands to see for yourself the plots, buildings or other plans for development on the island. You may need to know how many floors can be re-built; it may be 4 or less. You can get this information from the Camara Municipal.
May 2007 the building costs per sq.m. on a plot of land in or around Santa Maria could be under 400euros a square meter or over 1200euros a square meter depending on the position and size of the plot. They may be less up in Palmeira or Espargos.
The prices are quite high on Sal compared to other islands. On Boa Vista island there were some smaller plots of 20,000sq.m at 55euros per m2 whilst a larger plot further along the coast was 35euro per m2.(May 2007)