It is commonly believed that you should never attempt to mix business with pleasure, but that is exactly what you need to do in certain situations. Investing in a property in a popular tourist area comes with many benefits. Not only do you get to enjoy the real estate, but you have the opportunity to run a profitable business. Maybe you have inherited some money recently. Instead of spending it all on trifles, you should buy a vacation home and rent it out. A family home is an important part of any break and you can be sure that it is a good financial investment. The truth is that holiday homes are great options for delivering an income. You may be tempted to think that a holiday property investment in Cape Verde is not something profitable, but in fact it is.
Pros of investing in holiday homes
Family vacation homes bring in three times more income than rental properties. Even a single property can produce an income of £15,000 a year. When they go on vacation, people want be accommodated in nice places, namely luxurious homes. Most importantly, they are willing to pay whatever price to enjoy a good stay. You have the possibility to arrange the rental income any way you want, whether long-term or holiday rental. During peak tourist seasons, you can make significant earnings. You can sell the property later on or, better yet, make it your permanent home.
Why buy holiday homes in Cape Verde?
While Cape Verde is not yet an established holiday destination, it is highly viewed by international property owners. The volcanic archipelago has stunning beaches, not to mention that there are many restaurants and bars. It is important not to forget about the opportunities for water sports. Popular locations are Santiago and Boa Vista. You have to pay attention to the fact that most of the market is off plan as new development is taking place.
Consider building holiday homes
Renters are mostly attracted by new houses, which is the reason why building a family holiday property or two is a smart move. The location must be chosen carefully. You should concentrate on the highest potential beach spots. Even though building houses may be a costly affair, you will get back a 7% return during construction. It is advisable to seek the opinion of a builder. A professional can tell you what you can and what you cannot do.