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Property-Considerations-1



   

Wherever you buy you will need to consider

1. Most importantly if looking for property, take a note pad and pens, every where you go you will find you bump into people when you are out and about [...]

   

Plots

There are three designations that I am aware of when owning a plot, these are:

MISTRO - (Mixed) can be commercial and habitacao (commercial property and possibly residential). Or you can [...]

   

Force Majeure

If your contact has a clause on 'force majeure' it will be for actions that occur beyond the developers control. This means that in these cases they can't be held liable for delays. This is and does happen.

   

About the Seller/Developer

Are you dealing with an Agent or the owner/developer?
• How financially stable is the company that are proposing to build there?
• Do they have planning permission, do you have [...]

   

Buying Land on Cape Verde islands

Check with your solicitor/lawyer that approval has been given by the authorities to build on the land you are thinking of buying (don't sign anything, no matter what it is, before showing your solicitor all the papers).


   

Still for Sale

Yes, some of the apartments I saw September 05 are still up for sale Jan 07. Newer and more modern apartments or new projects are being built.

There is a wide range of building standards and finishing which may help sway your decision to buy in the town or in gated communities. The prices can vary accordingly.

I would always suggest you go and take a look before you buy and ask as many questions as you can.  Carry out your research with the developer and with Real Estate Agency's.

There are a number of distressed sales.

   

Agents

You can sometimes get better value for money if you deal direct with the developer (as an independent) rather than through an agent, as most agents take a percentage of [...]

   

Higher Prices

Some agents seem to be asking, what I see, as high prices for properties they are selling not just in Santa Maria but Murdeira also. I am sure its happening [...]

   

Security of apartment

Use a safe where possible, most hotels have them in their rooms, but not sure about rented apartments/villas.

Some developments provide security guards over night or 24hr, which you will contribute [...]

   

Re-sale market

The re-sale market is here. 2008 has seen a change of circumstances for many people. Prior to this some people amy have had their properties up for sale for other reasons

2011 some difficulties for some result in distressed sales [...]

   

Apartment or villa hunting

Be aware that some properties have been on the market for some time, you are not the first to see them and won’t be the last, there are plenty to [...]

   

Real Estate Agents

The Real Estate Agents and developers with offices in the town usually close Saturday afternoon from 1p.m. and then don’t re-open until the Monday morning, so if you are arriving [...]

   

Positioning

As for everywhere on the island, the first line is the one nearest the beach and these are the more expensive.

Theoretically speaking the prices should be cheaper the further away [...]

   

Square Meters

Check the size of the external areas are separate to those of the internal areas, some agents/developers may quote sizes which includes external areas, others don’t, but you won’t know [...]

   

Selling Property

Check out how to get your money from the sale transferred out of the country, I was informed that there was some restriction on how much you can take out [...]

   

Off Plan

I understand that when you buy off-plan you can re-sell a property after the signing of the contract, some people will buy off –plan and then wait until its [...]

   

Older apartments/properties

There are old local properties for sale, but you need to come and look where they are positioned, compare prices, take the telephone numbers of the 'Vende' sale signs on [...]

   

Building finishing

As already stated, there are a number of developers, some Cape Verde, Italian, and Portuguese etc. They all have different standards for building and finishing.

Most of the larger developers have [...]

   

Commercial

Some buildings/apartments will not allow you to use them as a commercial let, so check the contract and sales details with the solicitor/ lawyer before signing. Also make sure if [...]

   

Room sizes

These may vary from apartment to apartment or house to house. There are now minimum room sizes for buildings
constructed since...

Prior to this they could vary. Some builders are more [...]

   

Air Flow

Some apartments with fewer windows/ doors (on each wall) may need air conditioning because of the poor air flow.

The more built up the area, the less air flow. [...]




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