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Melia Tortuga Beach and Spa, Cape Verde.

Melia Tortuga Beach and Spa, Cape Verde

Capital Growth, Income, Lifestyle, Return - Medium
The Melia Tortuga Beach Resort and spa is a 5 star beach-front resort on the island of Sal, Cape Verde. Famed for its Caribbean resembling white sandy beaches and its year-round good weather, averaging 29 degrees C with a refreshing Atlantic breeze and no rainy season, this 5 star resort is rightly attracting global attention.

Tourism to the Cape Verde area has flourished in recent years with figures showing an increasing level of tourism of 107% over the past 5 years. According to government figures, this trend is set to continue with an annual increase in arrivals of 22%.

With the island’s average occupancy estimated at around 80% by leading agents Savills, and the established 4 star RIU group resort commanding an average occupancy of over 90%, the future looks promising for the region in terms of tourist attraction.

Cape Verde has also weathered the storm in terms of the global economic downturn; receiving praise from the International Monetary Fund for its economic performance since the late 1990’s. The predominant driving force behind this has been foreign investment in the region.

Sal itself boasts a well established international airport. And at only 32km long and 12 km wide, Sal is fast becoming the most poplar tropical island amongst the Cape Verde archipelago.

Investors are currently seeing returns between 6% & 9% p.a. and, since breaking ground 4 years ago, capital growth of around 40% has already been achieved

Update: The Melia Tortuga Beach & Spa Resort has just won the award for Leading Hotel in Cape Verde. For more info click here.

The Resort is sold out but resale properties become available occasionally and there are fractional ownerships from only £10,000. For information regarding investment availability please call us directly on 01273 763900.

Income

The average net yield paid out to investors for the first three quarters after the resort opened was 6%.

It is worth bearing in mind that these are net yields paid directly to investors on a quarterly basis and the Resort has produced these yields from a standing start in May 2011.

Capital Growth

The average price of the Tortuga 2 bed apartment was €130k when bought by investors 4 years ago and since then has produced 10% p.a. capital growth on average with sale prices of €185k being achieved today.

Exit

We suggest that property investing should be viewed as a medium to long term investment, with the intention of investing for 5 years plus. having said that no investor is tied in for any length of time. Any investor can sell their freehold property investment at any time and the developer also has a buy back option if required.  At any stage we will assist any investor, whether an existing client of Davenport or not, with the resale of their investment property, promoting to both the open market and our existing clients.

Security

The investor is the outright, freehold title deed owner of the property (or half owner if half share is purchased) under Cape Verdean Law, which is a notary of the Portuguese legal system.

Apartments and villas are available both for private use or contained within the rental pool of the resort.

From time to time, we have existing investors, whose investment strategy is to always  purchase off plan, taking advantage of capital growth during the build stage, looking to exit once developments are completed and producing income but also taking the associated risks of a development not being completed. These properties are often sold to those investors who are more risk averse and would rather purchase a completed property producing instant yields (income).

Off plan investors often then use this profit (capital growth) to invest in the next off plan development, often with the same developer. Investing from Tortuga into future resorts such as Llana Beach Resort or White Sands Resort.

Please contact us using the below form to be added to our subscriber list and let us know of your interest so we can notify you first if any properties become available.

To whom it may concern,

I have recently purchased my second foreign investment property through Davenport Property Investment.

Buying an investment or a lifestyle property abroad is a daunting task and trust is the fundamental ingredient. Davenport Property Investment’s ethical approach to foreign investments and their Investment Rating information helped make the process as smooth as possible.

To ensure that the investment matched the level of risk that I was prepared to take, Davenport helped me to develop best, worst and medium case scenarios to make my decision-making as informed as was humanly possible.

Kind regards,

Rob Blackman
Lewes District Councillor

An enticing enterprise: How the recession has made pretty Cape Verde a wise investment
Daily Mail
Click here to view the article.

Tourist Development in Cape Verde: The policy challenge of coping with success
Overseas Development Institute
Click here to view the article.

Africa Investor Report
UNIDO
Click here to view the article.

Cape Verde sees tourism growth by 27.4%
Cape Verde
Click here to view the article.

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