Well the chain of evolution in the last number of years has developed and in many locations around the globe the Irish are no longer just simply buyers but are now agents, developers and even heavily involved in the development of new locations.

Cape Verde, off Africa's west coast, is a prime example of this. While it is currently the media darling of the overseas investment world, last year the country was largely unheard of and most people would have had to ask for a globe to locate it.

In true pioneering fashion last month a chartered plane left Dublin airport with 120 Irish passengers for the island of Sal. This was the first direct flight between Ireland and the tropical archipelago nation of Cape Verde.

Tom Sheehy of Cape Verde Development, the Irish company who are now an integral part of development on the island, explained the flight is a sign of what is to come.

"International services already operate between Cape Verde and Amsterdam, Boston, Lisbon, Madrid, Munich, Paris, Porto, Milan and Rome, " says Sheehy. "In the spring of 2006, a new regular service from TACV [Cape Verde's national carrie] will commence between Birmingham, England and Cape Verde."

For the uninitiated, Cape Verde is an independent group of 10 islands off the coast of Senegal in northwestern Africa. It is a former Portuguese colony and has been a democratic republic for 30 years. It is on the same latitude as Barbados, has a mix of European and African architecture, enjoys average temperatures of 210 to 290, low rainfall and is surrounded by warm water that never drops below 210.

The most developed island is Sal. Discovered in 1640 it is a modest 216 km sq and is the gateway to Cape Verde.

With its dry tropical climate it is now the epicentre for much of the development on the island. It is about a fiveand-half hour flight on a charter from Ireland.

In the last number of years Sal and Cape Verde have really begun to take off economically. According to the Centre for Tourism, Investment and Export Promotion unemployment in Cape Verde has gone from 25% in 1999 to practically full employment since 2002. It's no coincidence that inflation is rising and the local central bank reports that revenues from tourism have risen by 225% since 1999.

Cape Verde Developments, founded in 2005 by Tom Sheehy, has already sold out of a number of developments at Turtle Bay on Sal . . . 32 units costing from 95,000 . . . at White Sands also on Sal . . . 21 units cost from 59,000 are due for completion in 2006 . . .

and Montegordo on nearby Sao Nicolau . . . 108 units costing from 69,000 are due for completion this Summer.

Launched in 2005 their Paradise Beach development on the bay of Algodoeiro is 10 minutes from Santa Marie and 10 minutes from the international airport. This is a four-star resort in a secure, landscaped environment beside a beautiful sandy beach.

Due for completion in 2008 there are 449 units in two phases with prices ranging from 120,000 for a one-bed apartment to 600,000 for a villa. The resort will also have a 32-suite four-star hotel, conference centre and full leisure facilities.

90% of Paradise Beach is already sold but the company's latest launch is Murdeira Beach Resort, a large beach front development.

The site will have villas, apartments and townhouses and will also offer a wide choice of dining and bar facilities, health and relaxation, shopping and golf.

Prices start from 100,000 for one-bed penthouses and 700,00 to 800,000 for onethird of an acre sites with villas and pools.

"We are particularly excited about Murdeira Beach Resort and are expecting a lot of interest in it not just because of its five-star status but also given the increasing direct access to Sal.

"With more charter flights being scheduled and a direct flight promised from Manchester in March, it is quickly becoming obvious that Cape Verde will take off as a holiday destination for the English and Irish sooner than expected. This too is driving the interest in property in the region, " says Sheehy.

For investors Murdeira Beach Resort also comes with a 5% rental guarantee for three years.

Donal Heffernan, a retailer from Cork, bought in Cape Verde in September 2005.

He was one of the first investors to make a trip to the island and bought in one of the earliest developments at Turtle Bay. After attending an exhibition Heffernan made an inspection trip to Sal in early 2005.

Initially only going as an investor to broaden his portfolio, Heffernan was impressed with the island and envisages using it as a holiday home in the future. He bought a two-bed apartment scheduled for a first letting this Easter.

Heffernan was surprised that the island was so developed and, while he was advised it could take 10 years for the property market to fully mature, he believes it may be a lot sooner than that.

After all it already has good food, excellent roads and of course an Irish bar.

Anne Collins of Anne Collins Property recently set up an office on the island of Sal. Cape Verde, she says, is seen as the Caribbean of Africa but in Cape Verde you can buy properties that will cost you up to three times less than in the Caribbean, says Collins.

"When buying a property abroad you look for capital appreciation, rental return and a holiday home. You rarely get all three but in Cape Verde you can."

She believes that, as the island develops, capital appreciation, like GDP and inflation, will increase; it is a beautiful location to have a second home; and rental return will be very good.

"Usually you need 30-40% occupancy to cover costs but here you could get double, " says Collins, who believes the only problem is that the developments are not built today.

Some more sceptical visitors to Cape Verde have questioned whether the developments will ever be built or on time, however Collins points out that as part of Cape Verdian law, if a developer does not complete construction by the agreed time they have to pay the buyer interest for the duration of the time that the property remains overdue.