Can I rent out my holiday home?
Yes, any property owner can rent out their property in Cape Verde.
They can be rented through a hotel if you purchase on a hotel resort and the property is in a Hotel Rental Scheme or it can be rented privately (holiday lets or long term lets) if you purchase a property in a residential area or in resort with no hotel Rental Scheme governing the property. There are a number of private management companies on the islands to rent and manage your property.
If you would like any contact details of management companies, feel free to contact us on info@opiproperty.com
How much occupancy can I expect per year?
Hotel rental schemes offer an annual yield of of up to 6%.
Privately rented properties can achieve between 5 – 30 weeks’ rental depending on a number of factors such as its location, the type of complex/resort and the marketing of the property by the management company.
Currently the flights to Cape Verde are heavily directed by Thomson towards all-inclusive holidays, however with more hotels being opened and more flights being put on, flight only costs have started to decrease considerably and are now very competitive with other destinations. As of July 2016, First Choice were offering a batch of flights from as little as 168 GBP return to Sal.
Rental Taxes
As of January 2017, the rental law in Cape Verde changed to stipulate that all rental income is taxed at 10%. This applies to short-term holiday lets (weekly letting) and long-term residential letting.