Merry Christmas and happy New Year

More Europeans Retire In Portugal

Portugal is one of the most sought after destinations by Europeans, in which to retire, concluded a study ordered by the Aga Khan foundation and conducted by the Portuguese institute for Regional and Urban Development and the Boston Consulting Group.
The study reveals that British and Germans are the Europeans which most seeking Portugal as their home abraod, choosing quite coastal regions such as the Algarve, the Estoril Coast and the island of Madeira.
The study estimates that there are currently 49.000 British retired home owners and 50.000 Germans.

“If I could I would buy Brazil”

Are the words of billionaire real estate guru Sam Zell. Brazil is one of the few countries which seems truly untouched by the world economic downturn with a Q3 GDP growth of 6.3%, not only in relation to the same period of time last year, but also in relation to to the current year’s first and second quarters.
Additionally, as an oil producing country now, Brazil shows absolutely no signs of slowing down any in 2009.

Looking Ahead and Holding Steady

Cape Verde’s politicians have to this point been very smart in their dealings with the international community, and from the overseas property market perspective, the archipelago is firmly on the map.
- Tourist numbers are still climbing
- Overseas investment is too
- Cape Verde has embraced as many international organizations as it can
- Infrastructures are tangibly developing (roads, transport, services, education, health...)
- And the government is now in the process of approving tax cuts and maximizing fiscal benefits for home owners, in an effort not only to shield from the crises, but indeed to take any advantage that can be gained from it.
CV 's Prime Minister José Maria Neves now urges business owners and investors in Cape Verde to do their part; innovate, provide quality goods and services and invest in an ever promising future!

TOP 2009 Holiday destinations for Brits

According to a recent poll taken by the Advantage Travel Centres, the british publication The Sun reports that – Britons hit by the credit crunch are now more than ever looking at value for money, when it comes to holidays, and not surprisingly Cape Verde is well established on the top 10 list!

Added Value of Architecture in Real Estate

"…better design has a longer life span, appeals to the market, generates better returns and, of course, there are the issues involving sustainability. But there’s more to it than that - people want to be connected to art" - states renowned architect Daniel Libeskind, one of the most talked about contemporary architects, in an effort to dispel the myth that architecture is limited by the market. Among other projects all over the world Daniel Libeskind is the architect responsible for New York's Ground Zero.

Construction Update 13

We’ve completed the levelling and the platforms for both Tiara Tedju and Coladera! Cor di Mar is still being modulated and should be complete by the first week of January. The next steps are happening on the ocean front, where we have to build protections against the, sometimes sheer strength, of the sea. The tender for the concrete stage for all properties is due at the end of the current month and a decision is expected for December.

Investing in Cape Verde - Wise Move

CLICK IMAGE TO ENLARGE

Property Frontiers, highly rated international property analysts, hail Santiago, Cape verde as a hot spot for investment "Investing in Santiago is a wise move". On the whole Cape Verde is enthusiastically described as an attractive and growing destination, with stable government and steady financial growth, stressing as another factor of stability the fact that its Escudo is indexed to the Euro. In reference to Santiago specifically, it describes the island as the most cosmopolitan desitination which among other attributes, should provide strong returns as it is anticipated to the focal point of the archipelago's booming tourism industry.

Algarve, Portugal, Homes Abroad

ILM-THR just released their second anual report on the Portugal Residential Tourism Market which monitors second home owners with homes in the Algarve, Portugal. Among the data some of the interesting results revealed included;
Even though the British take up the biggest foreign market-share in terms of number of homes owned, the Scandinavians take the lead on money spent, being responsible for the most expensive buying. The study reveals that two and three bedroom apartments are the most sought after properties, and that central and eastern Algarve are the most popular destination for foreigners.

Savill's 2008 Second Homes Abroad Report

Here are some of the key statistics revealed in Savill’s most recent Second Homes Abroad report:
1. The report estimates an increase of 35,000 British homes owned abroad in the past 12 months.
2. Key driver demands remain; price differential and idyllic holiday locations,
3. Invesotr’s typical rent out period for 2007 was 18 weeks, with rents averaging at close to 700 Euros per week which brings gross yields to approximately 5.4%.
4. The report anticipates slower growth in second home buying activity - nonetheless, buyers remain optimistic over the long term

Smart Home: Green + Wired

Chicago Museum of Science and Technology

If you are one of our regular readers and you happen to be going by way of Chicago Illinois, you cannot miss the Smart Home: Green + Wired exhibition running through to January 4, 2009 at the Chicago Museum of Science and Industry.
Take a sneak peak inside the actual home that has been built on the grounds of the museum, designed by Michelle Kaufmann Designs and discover the latest innovations in reusable resources; smart energy consumption; sustainable gardens and green roofs; and clean, healthy-living environments.

Yes. These have been a long time coming, but we think they are well worth it! If seeing is believing, you now know that Ponta Bicuda has already changed the landscape of Cidade da Praia for ever!

Cidade da Praia is growing

Pictures from “our man in Cape Verde” who just returned to Praia - Cape Verde´s capital city, this weekend. These pictures show that the city is preparing itself for a prosperous future with roads being paved, residential apartment blocks popping up all around the town and the construction of infrastructures such as health centres, schools.

Good News

With all the financial havoc dominating media today, I wanted to make sure our readers got some good news. It really was nt that hard to find. The United Nations Conference on Trade and Development recently launched their 2008 report on Trade and Development which stated that “for the first time we are seeing a worldwide crises which is focused in the heart of the wealthiest nations and has had very little impact on developing and emerging economies” World GNP is expected grow approximately 4.9%, a figure which is largely based on the prediction that emerging economies will maintain their average 7.0% growth and that Europe will see it’s growth rate in the 1.4%.
At Design Resorts, this is something we have known for a long a time :)

Inside the Second Home

Long Lake, Minnesota Us of A may seem to be too far removed from our European reality to matter sometimes, but I read an interview to a prominent interior designer, which was not only relevant, but unique in it’s perspective of the second home market.
Some points to consider:
- Designing a second home is often a more passionate endeavour than the sometimes constricted first home
- 3/4of buyers want their second home to be near the water
- Spaces often need to be flexible as use of the second home can be so dramatically different

67 - Going strong!

Winner of the 2004 World Music Emmy award, and pride of Cape Verde, Cesária Evora, 67 on Wednesday. After a medically ordered three month break from her world tour for health reasons, she is back on track - kicking off this leg of the tour in Europe. Congratulations!

"The Amazing thing about Cape Verde is that it has not been discovered earlier”

Here are just a few of the statements which can be heard on Jo Sinnott's "Next Big Thing", series aired on U.K. Real Estate TV

· Caribbean style beaches, rich history, laidback lifestyle and vibrant cosmopolitan community
· For those looking to invest, Cape Verde is limitless
· Buying property is straightforward, with a strong legal system which protects property investors
· Quality and sustainability are key for the growth of Cape Verde.

Suggested reading!

I hear the information is clear, consise and contemporary, and that you don´t have to be a professional to understand it. Great real estate investment do's and dont's!

Britons Still Buying Abroad!

A study conducted by the real estate firm Savills and the travel agents Holiday-Rentals.co.uk, suggests that Britons who own property overseas were not questioning their decision to buy a second home abroad, despite steep rises in the cost in airfare to reach those destinations (66%). Furthermore Savills’ director of research points out that the number of British second homeowners buying property in exotic locations is rising. She believes that buying an overseas property, both for leisure and investment purposes, remains a key aspiration for many Britons, who are first and foremost attracted by the prices of property outside the UK.

Around 35,000 properties have been purchased in the past 12 months. 67% of all purchases falling into the leisure, and those buying purely for investment accounting for the remaining .
17% of purchases.

The Better Way to Live Praia

Finding your way to Ponta Bicuda, in cidade da Praia is now easier than ever. If you happen to be in Cape Verde and want more information on Ponta Bicuda, and happened to have missed the number; + 238 263 1035 . And should you be wondering what the billboards say; "The better way to live Praia - Ponta Bicuda".

Water = Vitality

A really unique photo opportunity grabbed, again by Helder Ribeiro, our Design Resorts man on site. Amazing pictures of Ponta Bicuda before and after a recent downpoor of rain on the archipelago of Cape Verde.

Construction Update 11

Somme great construction update pictures just in from Helder Riberio, our Design Resorts College who has just returned to Cape Verde. The first picture is Cor di Mar in July and the second is Cor di Mar in August.

Green Real Estate!

Keep your eyes peeled for the following terminology "green real estate", "eco brokerage" "sustainable real estate investment". With REITs (real estate investment trusts) announcing 7.5% increase in property value and 3% increase in rent values after having bought up half empty office buildings to give them fresh green starts, this has become the industry buzz . Insiders confirm that with demand growing, sustainable construction prices are noticebly falling and the world's leading top quality projects, both in the residential and office sectors are almost exclusively environmentally friendly.

Santiago Island, Cape Verde

For anyone planning their summer vacation getaway to Cape Verde this summer, we have posted a guide map with everything worthwhile doing and seeing on the island of Santiago where Cidade da Praia , the capital city of Cape Verde is located and where you can get the most in terms of history & culture, sports, Nature, restaurants & bars. For a closer view please click here.

Luxury Real Estate still a Solid Investment

Some interesting numbers from the much talked about Architectural Digest / Sotheby's International Real Estate Survey
· 85% of respondents agreed that “Real estate continues to be one of the better investments a person can make.”
· 72% of respondents believe their primary home value has remained constant or increased in value over the last 12 months (46% remained constant; 26% increased).
· Nearly two-thirds of respondents report that current conditions have “no effect” on their likelihood to sell their primary home (63%).
· In the coming year, 79% believe the value of their primary home will continue to remain constant or increase (55% remain constant; 24% will increase).
· In the next year, more than half (54%) of the million-dollar homeowners plan to buy, sell, build or invest in a new home.
· 69% of million-dollar homeowners agree that now is a good time to add to one’s real estate holdings.
· 71% agree, “Over time, nothing beats real estate for building one’s personal wealth.”
· Half (50%) of respondents think the media exaggerates conditions to make the market seem worse than it is.

To day is the day!

Today Cape Verde became the WTO's 153d member! This is a winning result for the archipelago which has been in negotiations to join for years.

The World Trade Organization (WTO) deals with the rules of trade for goods and services between nations at a global or near-global level. Though only launched in 1995 the trade regulations on which the organization is founded have existed since the first General Agreement on Tariffs and Trade (GATT), which took place in 1949.

Construction Update (10)

Are nt pictures worth a thousand words!? The first picture (before) was taken in January of this year, and the second picture (after), was sent to us earlier this month from Ponta Bicuda, Cape Verde.

Share the wealth!

Up until now this was reportedly the most expensive luxury holiday home in the world. Built from the ground up for a reported £78M in the rugged mountains of Montana, the house includes the ski slopes, with ski lift (of course) and one of its most outstanding features - an outdoor swimming pool with a glass cover that can be removed on warm days.

However, recently the fifteenth wealthiest man in the world, Chelsea football club owner, - Roman Abramovich revealed the plans for his palacial "crib" in London. Spread across two stucco-fronted properties in Lowndes Square in London, the eight-bedroom building is expected to be worth up to £150M making his, the most expensive home away from home

Construction Update (9)

As you can see from the image, last week was an exciting one for Cor di Mar. With a great BIG BANG down went the cliff. By now all of the machinery we have so painstakingly described is making its way down to begin ground works, now much closer to sea.
Is this grass not the single most resistant natural fibre you have ever seen!?

Cape Verde, Mars

NASA is publishing impressive images from the Cape Verde promontory... i've heard local climate is not as perfect as Cape Verde's.

Rental Returns and guarantees - Ponta Bicuda

I’ve had a very interesting evening last night with a friend who works for a European hotel powerhouse. We’ve used our time to discuss developments, returns and rental revenues in two different fronts; the hotel and the residential.
The hotel is simple and straightforward: the income depends on the hotel quality, on the capacity to generate revenues from tourism, business and city travel – the glass is most of the times half full with the sales to professional operators (tourist packages, meetings, symposiums and so on), creaming the milk for the other half with direct sales and more expensive channels.
The residential is a different issue: One can’t guarantee a steady income, as there are no professional structure to half fill the glass. It always depends on the local rental market for permanent residents and on the weekly rental for tourists, and the weekly rental depend on factors like cheap flights availability (on the hotel packages this is not an issue because the flight is part of the package and was previously negotiated for a cheap price), knowledge of the place and management quality.
I am glad we have the five star Tiara hotels on our Ponta Bicuda resort; otherwise it would be impossible to guarantee a steady income. I just don’t comment on the way some do it!

Gearing Up!

Thanks to Helder Ribeiro, Design Resorts who has just returned from a long stay in Cape Verde and has brought us all the "in-loco" information, with pictures to boot!
It seems like all of Cape Verde is gearing up for the changes that are so iminent right now. For example, in order to adequately handle all the new visitors expected to start landing at The International Airport in Santiago Island, construction works are taking place to enlarge the VIP terminal and add a new parking facility. Completion is expected before year-end.

The Cape Verde government as well as the Fond Regional de Development de la CEDEAO are underwriting the costs for constructions.

Congrats Cape Verde!

Cape Verde Scored well in the 2008 Heritage Foundation (a Washington DC Think Tank) and WSJ Index of Economic Freedom Report. In a total universe of 162 countries Cape Verde came in 24 percentage points higher than the total average when it came to property rights and also achieving high marks in monetary freedom and investment freedom. Entrance into the WTO, as previously reported on our blog, will ensure Cape Verde scores improve all around!

Invest in a Second Home in Brazil

Brazil has in recent times been the word coming out of many an investor’s mouth, and the theme of a few of our own posts of late. Here are a few of the reasons why:

1. Currently Brazil is a Buyers Market: Lots of land for sale with prices which remains reasonably low
2. 100% free hold ownership (in other words full ownership) for foreigners, which in many countries is not the standard
3. Steady Economy and low inflation
4. Falling Interest Rates
5. Increasing Real Estate financing
6. Steadily increasing number of tourists7. Climate, 7,400 km of coastline, a beautiful tropical rainforest.....

Construction Update (8)

So its true! The grass is greener at Ponta Bicuda! As you can see ground work continues steadily and with a closer look, the terrain is really beginnning to take form.

In an attempt to really communicate construction progress we have asked our double-duty on- site Project Manager and photographer extraordinaire to take pictures from precisely the same spot everytime so that we can monitor progress more specifically.

Golf is HAPPENING in Cape Verde

Golf in Cape Verde is happening! By the time the Tedju and Cor di Mar Tiara Hotels are ready, the Island of Santiago will have two top quality golf courses, potentially becoming a top quality golf destination.
Golf swings at Ponta Bicuda! A 9 whole Pitch and Putt course has been a part of the project since its inception, and has been a point of attraction for golf lovers everywhere.
Ponta Bicuda pitches in for Golf! Before projects began for Ponta Bicuda, we were already partnering with the Portuguese Golf Federation and involved in competitions such as the Penina and the Open, and in Golf events including, the very successful Golf Fair in Cascais. In 2008 our commitment to golf remains, having sponsored 5 tournaments in Quinta da Ria and Quinta de Cima, in Tavira, Algarve.

I.M.F. on Cape Verde

Mr Takatoshi Kato, Deputy Managing Director of the IMF issued a Press Release regarding Cape Verde’s growing economy that we just don’t think you should miss:
"Cape Verde's impressive economic performance in recent years reflects both prudent macroeconomic management, and economic reforms. Good policies have catalyzed investments and export growth, especially in the tourism sector—breaking past dependence on aid and remittances—leading to robust growth and moderate inflation.”

For more information you can read the full Press Release here

Cape Verde

Cape Verde went to the red planet!
The new phoenix unmanned space lab is exploring an area near the promontory of Cape Verde in Mars.
Should we change our address to Ponta Bicuda, Cape Verde, Earth? (image from NASA, Houston, USA, Earth)

World Trade Organization

Cape Verde is the 153rd member of the WTO. Considering the voting system of WTO, it's amazing that a such a small country as Cape Verde (400,000 inhabitants) retains the same amount of power as a big country like Indonesia with 110,000,000 inhabitants.

What was already streamlined is now even easier: Investment and business are the winners!

What Is An Emerging Market Economy?

An emerging, or developing, market economy (EME) a term coined in 1981 by Antoine W. Van Agtmael of the International Finance Corporation of the World Bank. Countries whose economies fall into this category, varying from very big to very small, are usually considered emerging because of their developments and reforms. Hence, even though China is deemed one of the world's economic powerhouses, it is lumped into the category alongside much smaller economies with a great deal less resources. The unifying characteristic is that they have embarked on economic development and reform programs, and have begun to open up their markets and "emerge" onto the global scene. EMEs are considered to be fast growing economies.

Source: Investopedia

Construction Update (7) and other Updates

Yes this is still the place to find construction updates on Ponta Bicuda!

Many of our readers have expressed concern regarding the frequency of construction updates, and it seems as though we have responded by changing the name of our blog!

We would like to assure our readers that construction is progressing at a desirable pace – but at this stage we are having difficulty conveying this progress via pictures. Tractors, trucks, bulldozers and compactors remain on site and continue ground works at Cor di Mar, Coladera and Tedju.

New home

We want our readers to know that though our Blog has changed its name to http://luxury-second-homes.blogspot.com/ our whole hearted commitment to Ponta Bicuda, our projects and its investors remain. This is a reflection our own growth in the second homes market.
You can choose to read only Ponta Bicuda construction posts by clicking on the label Cape Verde Construction below each post, but we believe that you will find many other interesting posts to read here on "everything" second homes.

Construction Update (6)

As construction keeps on as expected and according to the announced schedule, the truth is that we have found there to be little earth-shattering news to report – but there has been plenty of earth shattering going on!

Just for your information, since day 1 of construction 180 000 m3 of earth have been moved! So that practically each house gets a breathtaking view, 140 000 m3 have been used for levelling the terrain, and the remaining 40 000 m3 will in due time get placed. In real terms this represents just over 1/3 of the land mass that will get moved around at Ponta Bicuda in this phase of construction.

Rhetorical question

I woke up this morning thinking how lucky I am. I love my job and I really believe on what we’re doing!
I work for a company that is investing in the right places. We’re now receiving the dividends on the, at the time, bold decision of investing outside Europe.
The western economies are in the middle of an “old people” turmoil: the fundamentals are good, but the confidence in the future is lower than most of us can remember. The BRIC’s are growing with confidence and with market solidity.
The oil is more expensive? Who cares, for most of the new users in the emerging (growing) world it’s the first time they can afford a car. For them, it’s the difference between non consumption and consumption. For the westerners, and in spite of all the current ominous malthusians, the economies are far less oil and natural resources dependent than they were 15 years ago. Brazil is the new player in the energy ground, with oil, sugar cane growing like a weed and 8% of the farming land in the world (Petrobras is now bigger than General Motors, sorry lads). The economy is growing at a two digit rate and the best part is the reflection in my own paycheck!
Those who think that Brazil is still a third world fragile economy should look again... for S&P the investment grade (BBB) is now, and other agencies are expected to follow. In Cape Verde a growth above 7.5% is not bad for 2008.
Should I invest my savings in Europe or in the next big thing?

Growth Rate In Cape Verde Expected to Accelarate in 2008

Acording to the African Economic Outlook Report, produced annually by the OECD and the African Development Bank, a rapid increase in the rate of growth can be expected for Cape Verde this year. From 6.6% in 2007, to 7.6% in 2008 and an estimated 7.0% in 2009.

This rapid growth increase reflects a tremendous effort made by the Cape Verde government to comply with the public sector’s Investment Program, a substantial increase in internal credit (including private investment), and a large amount of direct foreign investment.

Cape Verde born Nani, drafted for the Portuguese Euro 2008 Team

Born in Praia, Santiago Island Cape Verde in 1986, the acclaimed football player Nani , currently part of the English Premiere League champion team - Manchester United, was on Luis Felipe Scolari’s final drafting list for the Euro 2008, presneted at national level in Portugal yesterday evening!

Marianne Myles, Newly Appointed US Ambassador to Cape Verde

Marianne Myles, has just been appointed Ambassador of the USA to Cape Verde. In her confirmation hearing before the US Senate she referred to the Archipelago as a “success story.” Among contributing factors the Ambassador listed the fact that Cape Verde is one of the oldest democracies in the African Continent, that it maintains political stability and that to keep corruption levels down, the transparency levels have been elevated. She adds that Cape Verde has come along way in matters relating to human rights, civil liberty, and government effectiveness and accountability.

The Ambassador went on to highlight Cape Verde’s strategic position in the North – South Maritime routes, and the potential it has to become the transatlantic bridge for tourism, commerce and investment.

Property for sale in Cape Verde tempts investors

Discover Ponta Bicuda and make a great investment. Enjoy the future!

"Foreign investors are increasingly snapping up property for sale in Cape Verde, an expert has stated.
The west African country is attracting many different types of buyers...the archipelago's strong rental market has made it very popular with buy-to-let investors."

Source at "Realestate TV"

Cape banks on more expansion

Ponta Bicuda Resort in the Santiago Island. Great for Vacation, Perfect to Live.

"Cape Verde has been one of the names on the lips of many a property investor in recent times as the African archipelago has exploded into the consciousness of developers, investors and, most importantly, of tourists. Being the closest tropical island to Britain geographically helps, not least as there is no time difference. But the situation has only played itself out to any great advantage in the last couple of years as direct flights have been established between the UK and the former Portuguese colony.

These things feed off each other, so perhaps it is no surprise that as tourist numbers rise, so in turn does the capacity to accommodate them, both in terms of rooms to stay in and, before that, airports to land at. One of the major features of the economic growth of Cape Verde - substantially dependent on tourism - has been the large-scale investment in infrastructure."

Source at "Assetz News"