Off Plan or Completed Properties
Buying Off Plan or Completed
People will want to choose either Off Plan or Completed properties when buying, for various reasons and cicumstances. Off plan
Off plan means that the building or project is not completed when you put down your deposit.
There may be 3 or 4 stage payments until your final payment at the Notary.
The stage payments & times of payments may differ between developer.
There may be alternative types of stage payments on offer by a particular developer to that of another. Read on ........
Completed property prior to 08
A number of people from the UK may have benefitted from buying their completed property in Cape Verde before the credit crunch.
Either buying off plan and completing before 2008 or buying as a completed unit.
Dec-08 : As the pound dropped in value against the euro, properties abroad became more expensive to buy for some. Not only has the price of the property to be taken into consideration but the cost of the kitchen, furniture and white goods, if these are not included in the purchase price of the property. Getting a mortgage isn't that easy, banks are not approving applications or thee are delays..
As people are finding it difficult or being wary on how they spend their money, a number of properties both completed and off plan are now back on the market. It is unfortunate for some, that they are having to sell because of the situation with the euro/£ or situation in UK, Ireland and Europe. There are many distressed sales. Others have different reasons for wanting to sell.
Those people who may be financially more secure may be able to pick up a 'bargain' if I may use that term.
It's obvious that Developers and Real Estate Agents are feeling the crunch, its the same in the UK and the rest of the world.
Progress with some developments may be slower than others, the reasons for this may differ.
Developers will have discovered that prices of some materials and importation costs may have increased.
Cape Verde as an investment
I would still say that Cape Verde is one of the best places to invest. Sal being the main island for international investment with others like Boavista, Sao Vicente and Santiago following in its footsteps. Sandy beaches on some islands and mountains and valleys on others. This will remain the attraction of Cape Verde.