Ponta Bicuda

This topic contains 170 replies, has 31 voices, and was last updated by  hammersteve 11 years, 5 months ago.

  • Post
    optiontrader
    Member

    hammersteve:- I have bought on Ponta Bicuda. The deposit is only 40% before completion, which is a lot less than most developments, although this may change(So get in now) it happened at Ponta Preta in Sal. The rental guarantee is handy if you do not want the hassle of being a landlord. Its not due to be completed until late 2009/early 2010 so by that time its pretty certain direct flights will be in place.

Viewing 15 replies - 1 through 15 (of 170 total)
  • Replies
    hammersteve
    Member

    I have not yet visited the Islands, however a good friend of mine has just paid a deposit for a villa on the Ponta Bicuda development and I am tempted to do the same. It seems a good bet as there is a five year guarantee of rental. Do any of you guys have a view of this development. Also does anyone knows what plans there are to fly from the UK to Praia on Santiago island. Thanks in anticipation of your advice.

    hammersteve
    Member

    I was considering a 2 bedrom villa. They want 210,000 euros. Do you know how this compares to the release prices. Thanks for your help, Options Trader or anyone else who can help.

    optiontrader
    Member

    hammersteve:- I am buying in Cor di Mar, prices are I believe 5% higher now than release, but still a bargain at 210,000 euros.

    I agree with you guys, with 3 huge developments taking place on the Island of Santiago namely: Ponta Bicuda, Santiago Golf Resort and Sambala, there will be great demand for flights from the UK. I believe TACV – Cabo Verde Airlines is already looking in to that and should announce non-stop flights sometime soon.

    Carlos

    jonny
    Member

    I would be careful regarding direct flight to Santiago we have been down this path before. Ponta Bicuda looks good but I still suggest san vincente is a better long term bet. I would always suggest people visit the islands to make an informed choice.

    brookie
    Member

    Optiontrader

    Looks like our Sambala chat has been deleted again. Strange?

    If you want a property before 2009/10 then why not try Sambala they have 3 bed ton houses for less than 200,000 euros and they will be ready a lot earlier.

    Graham Parker

    optiontrader
    Member

    hammersteve:- Did you buy in Ponta Bicuda.

    hammersteve
    Member

    Yes. A 2 bed villa in Tedju. Time will tell whether or not I have made a good decision. Hope so. Any comments and thanks for your help thus far.

    optiontrader
    Member

    hi hammersteve:- We will not lose money on our investment. How much we make is down to when direct flights take off.

    10% gain per year returns over 278,000euros in late 2009
    15% gain per year returns over 318,000euros in late 2009
    20% gain per year returns over 362,000euros in late 2009

    If we get 25% per year, we will have a drink in the square watching the cricket.

    pinto
    Member

    quote:


    20% gain per year returns over 362,000euros in late 2009

    If we get 25% per year, we will have a drink in the square watching the cricket.


    Do you wants fries with that?

    hammersteve
    Member

    Time will tell for us all. I am also interested in an exclusive golf type development. Which would you recommend. Thanks for your help and support so far, Option Trader and everyone else.

    exclusive golf development…I suggest calheta bay resort…

    Carlos

    cyclefrance
    Member

    I’m considering buying although still assessing the pros and cons – looks OK on paper – but then I have witnessed some sorry tales in Spain where large developments never completed so buyers ended up with a 20+ year building site – not so exciting. Doubtless the developers will only build against sales so would be interested to learn of %age take up so far if anyone knows…

    I owned a place on a similar scale in Spain for 15 years – Ampuriabrava on the Costa Brava – all canals and villas with moorings – first five years of build in the place was a sea of cranes and cement mixers. We bought there ten years in when it had attained a good size of operation offering commercial alongside residential in enough quantity and quality – 15 years later it was time to go as the resort had overgrown and deteriorated considerably – overcrowded and poor quality alongside.

    The general feel and potential of this place looks good but it’s a bit like painting a dream which is a long way off from the reality – maybe 2009 completion will go manana-spiral into 2010 or even 2011…
    take that rental option up front perhaps…

    I hear constant rumours that direct flights already have started from London to Santiago but have yet to find details on the web – even the apparent Birmingham to Praia flight is elusive…but I am sure they will come – just a case of how soon. Certainly, as soon as the tour operators get in on the act they will make things happen – I remember in central Florida that they more or less built their own airport in order to guarantee access.

    Lots to consider… but then there’s that old saying ‘ he who hesitates….’ Decision time sooner than later therefore.

    If and as I pick up any relevant info I will let you know.

    Where you’re pedalling beats pedalling your wares

    optiontrader
    Member

    cyclefrance:- I purchased in Ponta Bicuda at the end of November. The % of reserved properties at the time was 20%(Cor di Mar village), three weeks after launch.

    The only direct flights into Cape Verde from Britain are to Sal, although by the time Ponta Bicuda is finished, its long odds-on direct flights will be flying to Santiago.

    Ponta Bicuda will be finished late 2009/early 2010, including all building work.

    cyclefrance
    Member

    Thanks OT – That’s interesting and encouraging – direct flights will be the turning point without a doubt and there’s no way that the demand being created for Santiago can be satisfied without such a transport link – so the flights have got to be there one way or the other.

    I read that the CV govt is looking to grow tourism to 1,000,000 vistors p.a. within 15 years and that tourism will represent 30% of GDP, so there should be a strong commitment to see the islands in a position to accommodate such a situation. With developers forming an association and generally speaking everyone seemingly tuned into driving the tourism business in the right direction in an efficient way the outlook is certainly more positive than negative. Tax penalties don’t seem OTT either and an aware govt is unlikely to want to rock a prosperous, money-earning boat.

    Where you’re pedalling beats pedalling your wares

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