Sao Vicente is part of the Cape Verde islands, which are located off the coast of Senegal in northwest Africa.

What's so special about it?

Sao Vicente was discovered in 1462 and remained primarily uninhabited until the mid-19th century when coal was discovered. It then became a stopping off point for ships and Porto Grande is Cape Verde's main port with cargo containers from North America, Latin America and Europe.

The capital, Mindelo, had a switching station installed in 1885 and during the 19th century was a major global cable station, which explains why the island is one of the cultural focal points in the country and is renowned for its music and festivals.

Best kept secrets Cape Verde has always had strong links with Portugal and its currency is linked to the euro. In March 2005 ex-Portuguese president Mario Soares began petitioning the EU to begin membership talks with the country and this year the UN elevated Cape Verde out of the category of Least Developed Countries . . . making it only the second country in the UN's history to do so.

Who lives here?

On Sao Vicente 94% of the population lives in urban areas, the highest in Cape Verde.

It has a very young population with about two-thirds under the age of 30.

What's the property market like?

The economy of Sao Vicente consists mainly of the service industry. However, it is still quite underdeveloped with only 2% of the population made up of educated employees . . . and, at 23%, it has the highest unemployment rate in Cape Verde.

At the Cannes Film Festival this year Irish developers Cape Verde Development announced they were going to invest over 35m building an exclusive resort at an old fort in the centre of Mindelo. Due for completion in 2009, the luxury five-star resort will also have a Nikki Beach. "Our aim has always been to set the standard for development on the islands, " said Tom Sheehy, director of Cape Verde Development.

Prices in Sao Vicente are relatively cheap but the resort will position the island as the upmarket island in Cape Verde with prices starting from 335,000 for apartments and 1m for villas.

How do you go about buying?

Afrol News is a good portal for information on the island and when looking for agents it is best source them through the AIPP or FOPDAC. Foreigners can easily purchase property here. As taxes have to paid in the local currency it is advisable, but not mandatory, to open a Cape Verdian bank account. You do not have to be present when buying as you can assign power of attorney to a Portuguese lawyer, who will obtain the tax card, the Land Registry Certificate, Deed of Conveyance and Tax Information Certificate. All documents are in Portuguese so a good translator is needed.

If the property is not registered a certidao pela negativa and a certidao matricial para o efeito must be obtained.

Once a property has been found a deposit of 10-30% is paid and contracts exchanged.

A notary is needed to witness signing of the deed of conveyance and the property is then registered. Mortgages are possible but only up to 80% and not on off-plan properties.

If a developer does not complete construction by the agreed time they have to pay the buyer interest for the duration of the time the property remains overdue.

Where are the best places to buy?

The majority of the population lives in the port town of Mindelo and with the forthcoming Nikki Beach-linked resort this will be a hotspot. Calhau on the eastern tip of the island was once a small village but is attracting new developments.

Baia das Gatas beach in the north has proved popular and a large complex at Calhete in the south is being developed by Indian developers. A Dubai developer also has plans to build at Praia da Calhete Grande in the south of the island.

What's the rental market like?

Even on Sal, rental accommodation and hotel rooms get snapped up quickly as demand outstrips supply. Cape Verde has been hotly tipped by Channel 4's 20 Best Places to Buy in the Sun and the BBC Holiday programme, and the government estimates tourism will rise by 22% per annum with a target of a million tourists a year by 2015. With direct UK flights this will increase.

A large percentage of the population live below the poverty line so they will not be targeted for rent and even at the higher end of the scale tenancy rights are very strong in Cape Verde so it can be difficult and lengthy trying to evict a tenant who doesn't want to leave.

Rental income tax in Cape Verde is currently quite high at 20%. In Sal, rental yields are about 15% in popular areas and quality two-bed apartments fetch about 800 per week. Some developments also come with a 5% rental guarantee.

What's the resell market like?

Most developments are off-plan and there are very few secondhand properties for sale and those that are sell quickly or are in need of major refurbishment.

Average property prices?

From 1,200 to 1,650 per sq m. Average prices in Cape Verde are about 90,000 for a one-bed apartment, 120,000 for a twobed and 250,000 for a three-bed villa.

What are the tax breaks with Ireland?

Income tax is 20%, property tax is 0.75% and capital gains tax is 3%. At 13%, buying costs can also be quite high.

FAST FACTS

Getting there: TACV, the national airlines of Cape Verde, flies direct from London.

Area: 227sq km Population: 70,000 Currency: Cape Verde Escudos ( 1.00 = 110.835 CVE) Weather: Temperatures range from 22degreesC to 29degreesC Transport: The island has an international airport and its main port, Porto Grande, has links to the other islands and is a main cargo ship and cruise-liner destination. There are three main roads from Mindelo to Sao Pedro, Calhau and Baia das Gatas.

Going out: Mindelo, with its bohemian culture, is a hotspot for nightlife and bar and is famous for its three-week carnival held in August. Sites worth seeing are the beautiful Indian-style colonial architecture at the Governor's Palace, Paco do Concelho . . . the city hall and Centro Nacional de Artesanato, which has Cape Verdean craftsmanship.

Eating out: The national dish is the 'catchupa', a slow-boiled stew made from hominy corn, beans, vegetables, spices and marinated pork or tuna. In many of the restaurants you will find fish soups are popular and other specialties include bananas wrapped in pastry and deep fried and manga de conserva . . . an unsweetened chutney-like concoction.

Shopping: With cruise ships docking there is a tourist souvenir industry and Mindelo has the best collection of handicrafts in Cape Verde.

USEFUL CONTACTS

Cape Verde Bureau in London (handles Ireland): 0044-151 255 1314;

www. capeverdeconsul. com British Consulate in Sao Vicente:

00238-232 2830 Banco de Cabo Verde: www. bcv. cv Afrol News: www. afrol. com Municipality of Sao Vicente (In Portuguese): www. cmsv. cv Cape Verde portals:

www. caboverde24. com;

www. capeverdeportal. com;

www. virtualcapeverde. net Global Property Guide:

www. globalpropertyguide. com AIPP: www. aipp. org. uk FOPDAC: www. fopdac. com OverseasCafe: www. overseaslist. com My Overseas Property:

www. myoverseasproperty. ie