Cabo Verde - Emerging Real Estate

Cabo Verde is the name given to the country by the Portuguese. Cabo Verde was unpopulated in 1456, when the Portuguese discovered the islands, and they then became part of the territory.

Luigi da Cadamosto, who was a navigator working for the Portuguese empire, discovered Cabo Verde. Diogo Gomes, an explorer in the service of Portugal visited the uninhibited islands, and colonists began to emigrate and settle in Cabo Verde 6 years after it's discovery, in 1462.

Slaves were brought over from Western Africa to Cabo Verde in the late 16th century, with the islands becoming a centre for the slave trade. The country also became a penal colony for Portugal, similar to Australia for the British Empire at the time.

The status of Cabo Verde changed from being a colonial state to an overseas province. The Cabo Verdeans founded the "Independance of Cape Verde" in 1956 and many Cabo Verdeans decided to fight for independance which eventually followed in 1975.

In the late 21st century, the Cabo Verdean government engaged in economic reforms to develop the private sector with a prime objective of attracting foreign investment, and developing the tourism industry. At the time, however, the nation had a longer than normal drought, having a deep effect on the plans leading to a large number of emigrators from the country, having to import most of the commodities into the country, causing huge economic problems and stunting the growth of industry.

Since then, life in Cabo Verde has become more normal, which suggests that property prices will start to gain huge rises in the coming years.