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The Buying Process

To buy a property on Palm View Resort is very simple and straightforward; here's a little information on how the buying process works, the mortgages available and the optional guaranteed rental income that buyers can take advantage of while still retaining four weeks' personal use every year.

The process can be divided up into four stages.

1. Reservation -

Once you have decided which property you wish to purchase on the Palm View Resort, you will be sent a reservation form which you must fill out and return with your reservation deposit of 6,000 Euros. When we receive your deposit and reservation fee the price is fixed and the unit is secured in your name. The pre promissory contract is then sent out to you.

2. Pre promissory contract -

When you receive the contract you should appoint a solicitor to deal with your property purchase in Cape Verde. We can recommend an independent solicitor experienced in the Cape Verde buying process or you are free to source your own. The solicitor will look over the contract to make sure that everything is in order and you are happy to proceed. You have 28 days to return the pre promissory contract with the 30% deposit less the reservation fee. It is at this point that you are contracted to buy the property.

3. Stage Payments -

Five months after signing the pre promissory contract you will be asked for a further 20% of the purchase price.

4. Completion -

Upon completion of the property you will be asked for the final 50% of the purchase price which can be mortgaged. Your solicitor will complete the sale on your behalf and will do the essential checks required including the payment of stamp duty and property tax and make sure the property is registered with the land registry. The property is then yours.

Mortgages

There are two ways of financing your Palm View property; from funds raised in the UK or with a mortgage from a local lender. Our finance team can advise you on your options including competitive mortgages up to 85% loan to value - around 10% more than the standard mortgages available in Cape Verde. Call us on the number below for further information.

Mortgage calculator

Guaranteed rental income

Thanks to Palm View Resort's acclaimed status as the only six star resort in Cape Verde, the islands' year-round climate, increasing accessibility and growing popularity with international tourists, we are able to offer all buyers an optional 5% net guaranteed rental income for their property.

The initial term will last for three years, after which time you may choose whether or not you would like to renew the agreement for a further period. On average, this equates to an income of €10,000 per year on an apartment at €200,000.
You can still enjoy the use of your property at Palm View Resort even if you take up the guaranteed rental income as we offer four weeks of personal use every year.