Buying Properties for Sale in Cape Verde: A Complete Guide
Properties for Sale in Cape Verde
Buying properties for sale in Cape Verde is a straightforward and secure process for foreign nationals. Importantly, Cape Verde imposes no restrictions on overseas buyers, making it one of the most accessible property markets in Africa and Europe’s near offshore destinations.
Moreover, the country benefits from a stable legal framework, euro-pegged currency, and a transparent notary system. As a result, buyers enjoy clarity, predictability, and confidence throughout the purchase journey.
Can Foreigners Buy Property in Cape Verde?
Yes — foreign nationals can freely buy properties for sale in Cape Verde without the need for residency, special permits, or local partners.
In addition, the Cape Verde Escudo (CVE) is pegged to the euro at a fixed rate of 110.265 CVE = €1. Therefore, property prices are listed in euros, removing exchange-rate uncertainty.
👉 For UK buyers and sellers, prices can also be fixed in GBP, which helps avoid currency fluctuation costs during the transaction.
The Property Buying Process in Cape Verde
Cape Verde uses a notary-based property system, similar to Portugal. Consequently, buyers benefit from a clear legal framework.
Step 1: Reservation Agreement
Once you agree on a property price, you will:
- Complete a reservation form
- Pay a reservation fee:
- €3,000 or
- 5% of the purchase price (depending on the property)
This fee secures the property at the agreed price. However, it is non-refundable if you withdraw, except in cases of legal or ownership issues.
✅ The reservation fee is deducted from your final deposit.
Step 2: Legal Checks & Due Diligence
Next, you appoint a local Cape Verdean lawyer to:
- Verify ownership
- Confirm there are no debts or charges
- Review land registry and title deeds
Legal fees usually range between €800 and €1,000.
👉 If needed, we can recommend reputable local lawyers with extensive experience assisting international buyers.
Power of Attorney (POA): Do You Need One?
Yes. A Power of Attorney (POA) allows your lawyer to represent you at the notary.
Option 1: POA in Cape Verde
- Cost: approx. €300
- Includes translation
- Fast and straightforward
Option 2: POA from Abroad
If arranged in your home country:
- Sign at a Notary Public or Cape Verdean Embassy
- Obtain an Apostille under the Hague Convention
- Send the document to Cape Verde
✅ Importantly, you do not need to be physically present in Cape Verde at any stage of the transaction.
Purchase Taxes & Closing Costs of properties for sale in Cape Verde
When buying properties for sale in Cape Verde, expect the following costs in addition to the purchase price:
Mandatory Costs of properties for sale in Cape verde
- Property purchase tax: 1.5% of the registered value
- Land registry & notary fees: approx. €700
Additional Possible Costs
- Translation fees
- Banking transfer charges
- Legal fees (€800–€1,000)
Before completion, your lawyer will provide a full closing cost statement, ensuring total transparency.
Finalising the Purchase
Once funds arrive in Cape Verde, the lawyer will:
- Register the transaction
- Schedule the notary signing
- Complete the transfer of ownership
After that, the property is officially registered in your name.
Ongoing Costs of Property For Sale in Cape Verde
Owning property in Cape Verde comes with modest annual running costs, which vary by location and amenities.
Condominium / Management Fees
- Resort apartment (e.g. Melia Tortuga, 2-bed): ~€2,000/year
- Smaller complexes in Santa Maria: €600–€1,000/year
Council Tax (IUP) of properties for sale in Cape Verde
- Approx. €300 per year on a €100,000 property
- Paid in two instalments
Overall, ongoing costs remain very competitive compared to other European sun destinations.
Why Buying Properties for Sale in Cape Verde Makes Sense
In summary, buying properties for sale in Cape Verde offers:
- No restrictions for foreign buyers
- Stable, euro-linked currency
- Transparent legal system
- Competitive purchase and ownership costs
- Strong lifestyle and rental demand
As a result, Cape Verde continues to attract investors, retirees, and lifestyle buyers from across Europe and beyond.
