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Independent: Jet To Let: The New Way For First-timers To Get On The Ladder.

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''Jet to let': the new way for first-timers to get on the ladder':

http://money.independent.co.uk/property/mo...ticle549417.ece

First-time buyers Chris Powell and Lesley-Ann Cassar, both in their thirties, are weeks away from getting on to the property ladder. Their excitement is understandable: they have secured a one-bedroom apartment for a stunning £45,000 price. Its location? Cape Verde, 300 miles off Africa's west coast.

"There was just no chance of us affording a place [in London]," says Chris, who rents in Battersea. "With beautiful beaches and good air links, we hope it will give us a good rental return as the island becomes more popular.

"We see it as a long-term investment and also hope it will appreciate in value so we can one day buy a place in the UK."

While buying abroad used to be the preserve of the rich, it now presents an attractive opportunity to those priced out of the domestic market.

"Overseas property offers first time buyers an investment they could never have afforded back home," says Mark Bodega of foreign currency broker HIFX.

While some first-timers are simply starting a new life abroad, most are "jet-to-letters" who rent out their properties for income in the expectation that this, along with a rise in the price, will let them build a deposit for a UK home.

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Ah cape verde... its some lovely islands - not very high above sea level if I remember what a solictor I knew told me

Natural hazards:

prolonged droughts; seasonal harmattan wind produces obscuring dust; volcanically and seismically active

Environment - current issues:

soil erosion; deforestation due to demand for wood used as fuel; desertification; environmental damage has threatened several species of birds and reptiles; illegal beach sand extraction; overfishing

Not sure if they have their own water supplies either..

Economy - overview:

This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought. The economy is service-oriented, with commerce, transport, tourism, and public services accounting for 66% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 2004 was only 12%, of which fishing accounted for 1.5%. About 82% of food must be imported. The fishing potential, mostly lobster and tuna, is not fully exploited. Cape Verde annually runs a high trade deficit, financed by foreign aid and remittances from emigrants; remittances supplement GDP by more than 20%. Economic reforms are aimed at developing the private sector and attracting foreign investment to diversify the economy. Future prospects depend heavily on the maintenance of aid flows, the encouragement of tourism, remittances, and the momentum of the government's development program.

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''Jet to let': the new way for first-timers to get on the ladder':

http://money.independent.co.uk/property/mo...ticle549417.ece

Good grief!

Was it Dogbox who was asking about Cape Verde some months ago?

I was in Ghana recently, and their property market is somewhat "hot" too, fired up by cheap money available to expats in the US & UK building their dream retirement homes back in the homeland. There seemed to be rather a lot of executive rental lets available too... I wonder if the two were connected? :unsure:

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The Independent devote thousands of column inches to global warming and the environmental cost of flying but then the spurt out this rubbish without even mentioning the fact flights may be cheap now but may not be in the future.

This article, Curiosities of Utopian Living, produced by Medialens shows how they can't link up their editorial thinking with the realities of life.

Sean O'Grady wrote recently in the ad-filled motoring supplement of The Independent: "in answer to the many letters we get criticising some of our coverage, we don't make cars. We just write about them. [...] We try to concentrate on telling our readers about the many many ways you can enjoy motoring without costing the earth (in any sense)." (O'Grady, 'Sport Utility Vehicles: Don't shoot the messenger. The people who buy SUVs are the problem, not the industry that makes them, or even the motoring press', The Independent, March 7, 2006)

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Good grief!

Was it Dogbox who was asking about Cape Verde some months ago?

I was in Ghana recently, and their property market is somewhat "hot" too, fired up by cheap money available to expats in the US & UK building their dream retirement homes back in the homeland. There seemed to be rather a lot of executive rental lets available too... I wonder if the two were connected? :unsure:

I was in Senegal and was offered large unbuilt plots for $20000 in fantastic beach side locations in the Casamance. I suspect I could buy for half that if I started to bargain.(well worth the trip and a beautiful place for nature etc )

However.....government can repocess land and building practically at will. Security guards would be needed full time on site to stop squatting. etc etc etc.

The country is falling apart at the seams.........these guys are being taken for a ride.

Same comments apply to the Gambia.

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I was in Senegal and was offered large unbuilt plots for $20000 in fantastic beach side locations in the Casamance. I suspect I could buy for half that if I started to bargain.(well worth the trip and a beautiful place for nature etc )

However.....government can repocess land and building practically at will. Security guards would be needed full time on site to stop squatting. etc etc etc.

The country is falling apart at the seams.........these guys are being taken for a ride.

Same comments apply to the Gambia.

Ghana is a little more "reliable" in that you are less likely to suffer from the above problems. Nonetheless, it holds true that such an enterprise should not be attempted without having someone trustworthy overseeing the project for you on a regular basis. It's not something I would attempt unless I was intending to live there myself (not impossible).

The Independent devote thousands of column inches to global warming and the environmental cost of flying but then the spurt out this rubbish without even mentioning the fact flights may be cheap now but may not be in the future.

I live with a pair of Australians who wholeheartedly endorse the freetrade organic foodstuff cycling kinda lifestyle. But they also run up an outrageous amount of air miles and have the heating on as soon as the temperature drops below 20c.

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I live with a pair of Australians who wholeheartedly endorse the freetrade organic foodstuff cycling kinda lifestyle. But they also run up an outrageous amount of air miles and have the heating on as soon as the temperature drops below 20c.

So true. In some ways it's completly pointless spending ages doing your recycling and composting if you are then going to fly across the world and crank up the heating. The priorities are completly wrong - see today's Guardian:

A very warm welcome from CO2 central - i.e. we don't want an airport near our houses but we're rich enough to drive our 4x4s and keep our houses lovely and warm thank you very much. (+ we might have a quick weekend over in Prague if the flights are cheap enough :( )

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Does that mean they can fine you for leaving your lights on? Bound to happen sooner or later!

Nah but it'll be so expensive to have a light on you will just save it for special occasions!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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