Former Welsh rugby captain Colin Charvis has just bought a property on Cape Verde and there are plans to expand the archipelago's airport.
Meanwhile in Uruguay two major projects in Colonia are set to double the population and bring in $32 million of investment.
According to Adrian Lillywhite, managing director of Cape Verde Property, the islands are seeing record number of tourists and the property market has every opportunity to boom.
The Arab Bank for Economic Development of Africa is poised to sign a funding agreement with the government to carry out a feasibility study on the expansion of Praia Airport. The bank is also helping fund a number of projects across the country.
'There are many investment approaches that are proving successful in Cape Verde at the moment. For those simply interested in buying properties to let, rental yields of up to 8 per cent are being achieved easily because there is increasing demand for holiday accommodation, and this demand exists year round,' said Lillywhite.
One of the attractions of Colonia de Sacramento is that it sits on the banks of Río de la Plata, just a 50- minute ferry ride from Buenos Aires. It's the cultural pride and joy of Uruguay and reckoned to be the best preserved Portuguese colony with narrow cobblestoned streets, sidewalk cafes, restaurants, and shops that draw tourists year-round.
Two huge projects, Marinas de Sacramento and Arenas Blancas, a high range leisure and residential complex, are bringing a $32 million investment into the area.
According to Lee Harrison, roving Latin America editor of International Living, a great plus is the variety of property on offer. This varies from quarter-acre plots in the beach sector (starting at $60,000) and one-third acre plots in the Golf sector, starting at around $90,000. Then for those seeking traditional property a small, one-bedroom original Portuguese colonial house on the river will cost around $180,000, while a completely refurbished large colonial home on the river (with three suites) is $350,000. Small homes outside the historic centre start at $65,000.
'Colonia is Uruguay's second largest real estate investment market after Punta del Este. But realize that Colonia's market is smaller and measures its monthly influx of tourists by the thousands, rather than the hundreds-of-thousands, as Punta del Este does,' says Harrison.
