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Praia de Chaves Property DevelopmentSouth of Sal Rei on a fabulous beachPraia de ChavesThis is the best beach on the island that is accessible from the aiport. Close to Rabil a last gasp one-horse town, it is only 10 minutes from the new airport terminal over a rotten road which will surely be resurfaced, in time.Residencial Parque das DunasThe hotel was built four years ago as a residential complex or Aldeamento Turistico, where owners could let their bungalows back to the management and earn some rental income. Many of the properties are owned by Italians who work in Sal Rei, but live here or drive out at weekends. Some come up for resale. Now the hotel which is Italian-owned is developing another 200 properties, some of which it will keep for hotel accommodation and others which are for sale. The bungalows are simple square blocks with wooden balconies and flat roofs. They get hot and most only have fans for cooling. But the existing ones have been nicely landscaped with bougainvilleas, and there is the ocean and a pool nearby. The new properties will be behind the existing hotel and so not beach front. Prices are high at £133 per sqm making a 50sqm block. which is half a bungalow, with one room and a shower cost some £65.000. But they will be well guarded with five night and two day security staff. The complex has its own electricity generator and water desalinator but do not expect the telephones to work. Santa Isabel VillageAn Italian designed resort with houses that look almost as though they were in Brighton is set back from Praia de Chaves. It will offer an hotel, restaurant, swimming pool and fitness centre. Properties include studios and two floored maisonette apartments with the first scheduled for completion in 2009. Prices from about £50,000 for one bed studios. Palm View ResortThis will be beyond Parque Hotel on Praia de Chaves beach. A Dublin company called Flash Group, without previous experiences in the Cape Verdes or abrioad, will be developing it. it will be on a long narrow strip with only a short beach frontage, leading back up the hill. The long line of terraced flats which fgace onto each other rather than the ocean s feature plastic framed plate glass windows and plate glass balcony walls. This could be hot early in the day as they will face East. It will have a restaurant and hotel with bar, beach bar, snack bar, disco, boutique shops, gymnasium and beauty parlour. It will have several swimming pools and 4 tennis courts - one with astroturf. There will be an open air theatre and kid`s club. The site will have water pools and fountains. It will be a guarded complex night and day. Prices from £48,000 for one bed studios. Palm View resort offers all property owners a 5% net of all running costs guaranteed rental income for 3 years.This will be on a rolling basis and can be renewed for a further period if they so wish. also within the terms owners will be able to use 4 weeks per year. Prices start from £55,000 for a studio and. 2 bedroom apartments from £135,000 and 5 bedroom villas from a whopping £600,000. (Prices seem to be rising already) But it should be possible to get a 10% discount. Payment terms are £5,000 feen, 30% on compromesso, 20% more within 5 months and the remaining half on completion in 2010. A rental income of 5% for three years allowing 4 weeks’ personal use is on offer. A from Cambs comments "This resort is being developed on the beautiful unspoiled Praia de Chaves, an idyllic location. I understand the villas in the best locations are over £half a million. This brings Boa Vista into a different league. These villa prices are obviously aimed at people with money. The development is planned with restaurant, beach bar, disco, boutique, gym and spa, swimming pool, kids club + creche, tennis courts on astro turf, and outdoor theatre. All this on a desert island where the locals still queue for water! If they pull it off it will be absolutely amazing. I cannot dispute the beauty of the location, but I personally believe such a "leap" in "luxury" is a bit premature for Boa Vista. I believe locations develop a reputation, it is not instant. Boa Vista is a great place, however it has not earned that reputation yet. In the Caribbean it could cost over £1.5m, However Boa Vista is not the Caribbean ! I personally would rather buy 4/5 apartments elsewhere on the island rather than invest half a million."Coladera SandsWith a location overlooking the magnificent beach, the resort is planned as an Aldeamento Turistico with hotels, apartments and villas. The frontline will consist of 32 beachfront villas and behind this will be 156 terraced houses and 40 apartments. The site is 70 hectares. The Hotel built up on the ridge at the back of the site and imaginatively called Ridgetop will have 220 bedrooms. These will be equipped as studios and available for sale and leaseback to the hotel management company. No prices yet as the site does not have planning approval. It is being developed by a Scottish comaopny, which seems to have taken on too many developments. So no certainties about completions. |