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Cape Verde top for property investors, says SIP

A little-known tropical beach and mountain gem, Santiago Island, the main island of 10 making up the Cape Verde archipelago, is rivaling the hotspots of the Canary Islands, market specialists predict.

From March 2005, Santiago Island will boast its own international airport thus allowing a direct air-gateway from Europe with the UK only 5.5 hours flight time from the Island’s abundant international tourism development potential.

Hitherto, a 12-hour flight was necessary to reach the destination, with changes necessary at European airports and at Sal Island, which until now has been the sole air-gateway into Cape Verde from Europe.

Overseas property specialist Smart Investment Properties is representing the developers of Sambala Village, in the first of a three-phase development offering select condominium-style apartments and
townhouses to be situated on the coast and within five miles of the new airport.

On December 20, Smart Investment Property will host an initial offering of Sambala properties that start from Euros 58,450, approximately 40,000 for a one-bedroom apartment up to Euros 127,450, approximately 90,000, for a three-bedroom townhouse. These prices are approximately 20%
below the spring 2005 launch prices.

Smart Investment Property specialise in offering quality properties worldwide based only on profit on investment.

Having researched the Cape Verde market, SIP is confident that with its fantastic weather, superb eaches, low property prices, which are predicted to double over the next 24 months, and convenient direct flights from the UK, property investment in Sambala Village represents an exceptional investment opportunity.

Johnathan Grepne, managing director of Sambala Developments, says: “The opening of the new airport puts Santiago on course not only to become a popular tourist hub, but also to offer imaginative British property investors an excellent financial return, and a high-quality environment for their personal enjoyment.”

He adds: “We are also planning to use UK tour operators to take over the rental of units in Sambala Village to maximise the investment profit for buyers.”


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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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