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Cape Verde storms to the next level

The burgeoning Island of Cape Verde has added another feather to its economic cap.

It has been confirmed that the West African archipelago will become a full member of the World Trade Organisation later this month, which could potentially be good news for overseas investors who own a residence in the country.

Chintan Mahida, property editor at Nubricks commented: "The Cape Verde government has demonstrated its ability to bring its trade and economic policies up to standard, and this new membership could help reinforce its investment credentials".

According to the Organisation of Economic Cooperation and Development, Cape Verde's economy grew by 6.6 per cent last year.

This news comes at a time when Cape Verde's commercial property market is booming alongside the residential market. Adrian Lillywhite of Cape Verde Property Ltd explained: "The demand for commercial premises and also profitable and established business concerns in Cape Verde is increasing in line with demand from tourists and expatriates for services and facilities, and it is growing in line with local and expatriate demand for premises from which to run businesses which are in demand!

"Therefore it is something of a win-win situation in Cape Verde's commercial sector currently in terms of demand, and this is impacting on the price of commercial property and businesses for sale very positively".