Think the phrase “cheap beachfront property” is a thing of the past?

If you paid $40,000 for your beach house, how long ago did you buy it? In the US it would have had to have been 30 years or so ago, in Puerto Rico, over 15 years ago, in Costa Rica, over ten years ago easy.

But we have another chance. Even now in 2008 there is a place a few hours by plane from Miami, with Hawaii-like weather, friendly locals, outstanding beaches and where foreigners are not only welcome to buy, but encouraged.

The place is Ecuador. How it has slipped through the cracks this long is amazing.

So the first step towards your $40,000 beach house is to understand where you can find one. Not in the US (obviously), nor in Costa Rica or Panama, but in Ecuador.

The second step is to define exactly the type of property you would like (condo, plot of land, house) and your budget.

The third step is to go to kayak.com and book your flight to Ecuador. From Miami, New York and LA round trip flights can be had starting around $400.

The fourth step would be to do some preliminary research on the net. Remember that any listings you may find in English are probably priced for foreigners, sometimes at double or triple the price you could find locally. There are great places online to find listings, but that is covered more thoroughly in the report mentioned at the end of this article.

The fifth step would be to go to Ecuador. Give yourself as much time as possible in Ecuador. A few months are ideal. Make some local friends, get acclimated to the culture and decide if Ecuador is right for you. Easy ways to make local friends would be to go to the local churches, take Spanish lessons, or join local clubs with a similar interest to your own.

Then with a few local allies on your side, ask them to recommend a few trustworthy real estate agents and local lawyers.

The sixth step is to start your house hunt. Go to the coast, decide where you want to live and walk the streets yourself looking for phone numbers spray painted on the sides of buildings indicating they are for sale. Have a local friend help you make contact (so they don’t hike the prices up on you when they hear your accent.)

The seventh step would be to have your lawyer check out the papers of the properties that interest you, making sure they are in order. If the papers are in legal order, you make a bid similar to the US, but in Ecuador you will probably be dealing directly with the owner. Locals prefer to sell their houses themselves instead of through agents.

If the bid is accepted, you sign a sales contract similar to those in the US, and the closing of the sale takes only a few weeks in Ecuador. Closing costs and fees are only a fraction of those in the States.

Beachfront land plots in the $20,000 dollar range are still available. Castles on seafront cliffs are available for around $150,000 and attractive little seaside houses can sell for as little as $40,000, but only until the place gets discovered.

Turkish housing market offers great value for property investors looking to buy property abroad particularly when compared to the other European housing market. The economic growth in the country has created good environment for foreign property buyers, as house prices are pushed upwards. House price indices have confirmed a persistent upward trend in Turkish house prices this year and the continued imbalance between real estate demand and supply is driving the market forward. The property market is anticipated to continue expanding at a considerable rate during the next few years.

The trend indicates that investors could seize a potential bargain if they enter the market in the beginning, as the future sale price would be much higher. Vacation and second home sales accounted for nearly half of all residential sales in some areas of the Turkey last year. A holiday property by description presents an opportunity to break out; buyers also seek basic amenities and leisure activities including swimming, trekking and skiing to separate the experience from their native homes.

Turkey is also praised for a relaxed lifestyle and offering a variety of natural attractions, many of which could make it a popular option for lifestyle buyers. Additionally, property buyers in Turkey are often taken by awesome scenery, with houses boasting a lake or Mountain View and the appeal of the Mediterranean’s sandy beaches and enviable warm climate.

The number of house sales is rising significantly in 2008 with the level of sales activity indicates a turn in the market. The main reasons that purchasers gave for seeking property in Turkey are the pursuit of a better lifestyle, cheaper housing and favorable tax regime. The foreign purchasers doesn’t have to be super-rich in order to invest in a property in Turkey and particularly after the boom in low-cost budget airlines meant that owning a property in Turkey is no longer just a lifestyle afforded by the rich.

The overseas property fraternities have invested over £5 billion on real estate in the country in the last five years. This indicates the substantial pace of growth of Turkish property market. The stable economy and relatively cheap costs with prices 30 to 40 per cent cheaper than other European countries but high standard of living makes it a great property investment destination. House prices went up by 20 per cent in Turkey last year and also the potential to collect short-term returns has been greatly increased.

Overseas property investors in Spain now have far more influence on the housing market due to the recent downturn in the Spanish property market and purchasers now have far more “pulling power” during the purchase process. Consequently, those who are selling their properties have to make far more concessions to concerned parties, as they may only be dealing with few prospective buyers. But Spain is traditionally a popular location among overseas property investors. There is no visible sign of a drop in the amount of interest for Spain among overseas investors.

This is mainly attributed to various global economic problems which have triggered recent decline in house prices in Spanish market, inhibiting development in many areas. Certainly, house price inflation has slowed to a halt in some parts of the country, while in other regions prices are actually in decline. The conditions are said to be perfect for those who want a property for personal use, as some are being sold at reduced prices. The recent decline in property prices is healthy for the market as it means more people can afford to get the home of their choice. Nevertheless, many consumers are unlikely to see the positive aspect of recent fall in house prices, as all they are looking tumbling value of properties.

Overseas property purchasers could find now a good time to grab a residence which may previously have been unaffordable. This means that property values in places at the higher end of the market, such as Costas, are now within the reach of more people.

There is no doubt that the Spain is still an attractive proposition for expats and holiday home buyers. The decline in house prices and global financial problems over the last few months has mainly affected demand among those who want a property for investment purposes. However, Spain’s lifestyle attractions are still intact, which means it is still just as appealing to those who want a residence for personal use.

Property values in the country are going up in line with the rate of inflation and the existing level of supply is over and above demand, as there are about thousands of vacant properties in Spain. Investors who are purchasing property in Spain should welcome the current decline in the housing market as they are able to negotiate for the best deals. Therefore, Government recommended organizations who are selling property “regulate their prices” accordingly to counteract market conditions. The developers are already lowering their prices which show that this is the right moment to buy a flat or house in Spain.

One of the greatest things about owning a vacation or retirement home on the beach is enjoying the wildlife that pass by. Humpback whales arrive at Bahia de Banderas, regarded as one of the largest and most beautiful bays in the world, to escape the cold winter weather. Here these whales go through their breeding rituals forming courtship groups, mating, giving birth to their offspring and nursing them. Whale watchers are treated to a marvelous sight. A local Mexico, Cancun Real Estate agent can provide you with a list of beachfront properties available for sale or rent and you can enjoy whale watching from the comfort of your own home.

Humpback whales are marine mammals that do not have a nose. Instead they breathe through two openings called spiracles, at the top of their heads. Their large lungs make it possible for them to remain underwater from 10 to 30 minutes.

The life expectancy of humpback whales is 45 years. Their gestation period lasts 12 months. Calves are born in tropic and subtropical waters. During their birth the first thing to show is the fluke. At birth, a whale calf is between 4 and 5 meters long and weights between 1,300 and 1,400 kgs. Females nurse their calves for a year at which time the calf doubles in size to between 7 and 8 tons. Adult females are 18 meters long and can weight up to 53 tons. Viewing these majestic animals is even more exciting from your own beachfront property or condominium.

Their most distinctive feature of the humpback whale is their long pectoral fins, which can be as long as one third of the length of their bodies. The fins may be black on their dorsal part and completely white on their ventral part.

Whales do not have vocal cords but they do have the capacity to emit sounds (moans, squeaks, cries) through valves located in their larynx. The sounds last for an average of 6 to 35 minutes and are high pitched.

In the fall, humpback whales leave their feeding grounds in the Gulf of Alaska, the sea of Bering, the sea of Chuckchi, and the sea of Okhotsk, and travel towards the Pacific coast of Mexico. They gather mainly in the surroundings of the Marias Islands, the Isabel Islands, the Revillagigedo Archipelago as well as the Bay of Banderas, in Nayarit and Jalisco.

At the end March and during the first days of April, the whales begin their long journey back to the polar region. The whale calves have learned to swim but they remain close to their mothers for food and protection. You can contact your local Mexico Real Estate agent to find available properties and avoid the long journey back.

Your beachfront condo in Playa Del Carmen is within your reach. Check out the listings of Playa Del Carmen Beachfront Condos, plan correctly to Finance Playa Del Carmen condos and homes, and plan for a beautiful future today.

The Sierra Madre Range is a wonderful place to visit or live. Foreigners looking for real estate in Mexico will want to contact a local Mexico real estate professional to discuss ownership options available in this beautiful area.

The Copper Canyon is nestled in the Sierra Madre Range and is actually several large canyons that are four times larger than the Grand Canyon of the United States. It’s an out of the way place attractive to travelers who like scenic landscapes, gorgeous canyons and exciting train rides. The Sierra Madre is rich in history and legend. Fallen warriors, martyred Jesuits and Pancho Villa’s army are said to haunt the area. It is also home to the reclusive Tarahumara.

Tourists were able to enter this area long inhabited by the reclusive Tarahumara Indians via the Chepe railroad. Some 50,000 Raramuri (“the people of the swiftly running feet”) — as they call themselves — live in caves and other primitive dwellings, just as their ancestors have for the last 400 years. These small, shy natives are famous for their long-distance running ability. Tourists can visit some of their homes and buy handmade crafts, including handmade violins, pine needle baskets, woven belts and bark carvings directly from them. This area is marvelous for people who love to explore history and culture. The area is rich in both. Vacation and retirement properties are available. Contact a local Mexico real estate agent for more information.

The world famous canyon system is one of Mexico’s natural, cultural and historic wonders. The Canyon is located in the middle of the legendary Sierra Madre Mountains of the state of Chihuahua. The remarkable series of canyons and ridges covers 25,000 square miles of rugged territory.

Rivers have carved a 10,000 mile maze of spectacular steep-walled gorges into the volcanic rock of the Sierra Madre Occidental Mountain Range. Giant cactus and tropical trees over 5,000 feet are visible from the canyon rim. The water delivered by summer thunderstorms creates a rainbow of greens, reds and yellows of the deciduous oaks in spring and the wildflowers in autumn.

The historic Chihuahua al Pacifico Railroad travels from the Pacific Ocean up into the heart of Copper Canyon. The world famous railroad was built over a 90 year period, and is considered an engineering masterpiece. It has been called “the most dramatic train ride in the western hemisphere.”

Most tours travel through Los Mochis, Sinaloa, Creel, and Chihuahua. The train nears the top of the Sierra Madre range at 8,000 feet elevation. The railroad runs the way to Chihuahua City. The area is absolutely breath-taking and a fantastic place to retire or vacation. A local Mexico realtor can give you more information.

Your beachfront property in Mexico is within your reach. Check out the listings of Playa del Carmen Real Estate, Puerto Vallarta Property and Cancun Real Estate for insight into this booming market.

Buying beachfront property in Mexico for either vacation or retirement is a process that requires a fair amount of research and planning. Deciding on the perfect beachfront property is difficult as Mexico is littered with scads of beautiful beaches, any one of which would provide the perfect location for a dream home. A local professional Mexico real estate agent can provide you with a list of oceanfront property, vacation homes, condos and investment properties available for sale or rent.

The coast from Majahual to Xcalak is lined with miles and miles of powdery white sand. Majahual and Xcalak offer a relaxing alternative for vacationers and retirees who just want to get away from it all. Rustic bungalows and small hotels sprinkle the shoreline.

Majahual is located on the Caribbean Coast of Mexico just north of Belize and south of the Sian Kan Biosphere. Unspoiled rain forest, lagoons and ocean beaches abound in Majahual. The tiny fishing village is located on Mexico’s Southern Caribbean in the southern most part of the state of Quintana Roo. Majahual is at the geographic center of the coast.

The crystal clear waters of Majahual are always warm. Divers can discover countless beautiful coral formations and sponges, and enjoy swimming among sea turtles, dolphins, sea horses, manatees, and thousands of sport and reef fish.

Majahual is the Caribbean’s newest cruise ship destination and home to a new cruise ship dock and mall. To meet the increased demand, a new power station and water plant were recently completed and new roads and electrical lines are now being installed on the Costa Maya, both north and south of Majahual.

Residents and visitors enjoy delicious fresh seafood including lobster, conch and fresh fish. Life in Majahual is very relaxed and the pace is much slower than many foreign visitors are used to, but once you become accustomed to it, you won’t want to return to anything hectic. In fact, you may not want to return at all. A local Mexico realtor can help you find your dream home in paradise.

Vacationers, expatriates and foreign investors from all across the world have taken advantage of the region’s natural beauty, low cost of labor and resources, and significant investment incentives such as competitive access to international markets, a qualified and cost-effective labor force, and one of the highest economic growth rates in all of Latin America. Hurry before Mexico’s best kept secret is out.

Your beachfront property in Mexico is within your reach. Check out the listings of Playa del Carmen Real Estate, Puerto Vallarta Property and Cancun Real Estate for insight into this booming market.

Though golf has been in evidence in Turkey for some time (Istanbul Golf Club is one of the oldest in the world), it’s only been in the last five years that the sport has really taken off.

Despite its popularity, Turkey’s tourism industry is still in its infancy when you compare it to more established markets. As a result, golf is also in its early stages, though several glamorous courses have been developed in and around Istanbul, such as Klassis Golf and Country Club and the residential golf community of Kemer Country (at which villa prices have risen into the millions in the ten years since construction), as well as in key coastal locations.

The weather here may be the same as hot tourist spots in southern Spain and Portugal and the golf may be just as good, but there is one main difference. It is currently almost impossible to find property for sale in Belek that is actually integral to a golf course. Almost without exception, what are marketed as golf villas and apartment complexes will be outside course boundaries.

Usually it will be a matter of a few minutes’ walk or drive but some ‘golf’ property can be up to 20 minutes away. “In Belek courses are scattered around the area,” agrees Clair Walker of Turkish Homes, and properties are dotted in among them. It is different to Spain but Turkey is an emerging market and people understand that and are happy to buy there knowing this.”

Another thing worth bearing in mind in Belek is that some of the courses, such as the Gloria are pretty exclusive, only allowing golfers to play who are staying at their on-site hotels. Though there are plenty of courses to choose from it might annoy you if you’re buying in order to have access to all courses in town.

Of the nine courses currently operating, the two headline developments are both 27 holes: one at the Papillon Golf Club, designed by Colin Montgomerie and opened just last autumn, and The Cornelia by Nick Faldo. Both are getting rave reviews from the golfing press and buyers keen to play them are snapping up properties at less than a third of the cost of homes in other golf destinations.

Who can blame them? Prices in Belek start from under £60,000 for something with two bedrooms and a shared pool within easy distance of the main golf courses. Property that is larger, with at least three bedrooms and adjacent to the main courses cost from around £80,000. Turkish Homes, for example, has nice, modern apartments, 100 metres from Montgomerie’s course, costing from £85,000.

Similarly, the Augustus Resort, being sold by local specialist Nirvana International, is offering luxury apartments from £59,000 and detached villas from £107,000, all with fantastic on-site facilities. While Aquavista is another UK-based company that has had extensive experience of the Belek market; it’s currently selling apartments in the town from £60,000, with a wide choice of central two- and three-bedroom units available for around £75,000 to £90,000.

There are also several small enclaves of villas available through Aquavista, with three and four bedrooms and private pools, ranging from the very traditional in style to highly contemporary and costing from around £140,000 to £200,000. All have easy access to the nearest golf courses and superb beaches.

As a result, prices won’t stay low for long and are already rising at around 25 per cent per year. Investors hoping to rent should expect to get an average of 20 weeks per year according to Clair Walker. “Apartments should bring in around £250 to £350 per week, with villas renting from £500 up to around £700.”

However, it isn’t just Belek that is branching out into golf; last year the Turkish government gave permission for two new courses to be built in the Aegean resort of Altinkum, which is around 90 minutes from Bodrum. The planning stages are still being gone through but it’s hoped that the first will be completed by 2010.

Due to its distance from the airport at Bodrum, this region isn’t as traditionally well served with tourists as others, though it’s popular with Turks. It is, therefore, hoped that the golf, coupled with a new marina, will encourage investment and increase visitor numbers. Improvements to the harbour are also expected to allow ferries to run from popular Greek destinations such as Kos and Samos.

It’s anticipated that Altinkum’s profile will, in time, compete with Bodrum or Belek; if that is the case, it’s also possible that anyone buying now will get a bargain because property is currently so cheap. “Prices in Altinkum, can still be as low as £35,000,” says Clair Walker, who also sells in this area. “That will buy a two-bedroom apartment with access to a communal pool and within walking distance of the beach.”

Such issues are also reputedly dogging the proposed development of the Vita Park Golf Resort by Tuzla Lake near the popular and swanky resort of Bodrum. Two world-class golf courses, a residential development, hotel and recreational facilities are planned here but the site – a sensitive nature reserve with the only visiting flock of flamingos in Europe – is controversial.

In addition, Vita Park will be members only and current proposed fees are €15,000 (£11,300) to join and €1,500 (£1,130) per annum, which several agents doubt will appeal to many investors who can play courses elsewhere for less. Should this not deter you, there are some attractive, stylish new developments going up along the coast nearby.

One of these is Regnum Homes’ Bargylia resort, which offers chic, contemporary apartments and villas built onto a hillside, with wonderful sea views. The complex also offers a private bay, small beach and fantastic pool and spa facilities. Prices start from £59,000 for a two-bedroom apartment and the development is 25 minutes from Bodrum, with the proposed golf course site almost on the doorstep.

These properties are selling well and will make great, well-designed second homes. And should Vita Park Golf Resort get the final go ahead they may well, like other golfing property in Turkey, become even more sought after.

The village of Ixtapa Zihuatanejo has recently been revitalized as one of the most popular sport fishing destinations in Mexico. Schools of abundant game fish inhabit these waters. The most abundant species is the Pacific Sailfish which is available all year long. Vacationing and retiring anglers often purchase vacation properties and condos to enjoy the extraordinary fishing on a regular basis. Your local Mexico Realtor can provide you with a list of properties for sale or rent.

Anglers can expect to have more than a dozen opportunities per day with these hard fighting billfish during peak months. Much larger sizes and harder to find are Blue and Black Marlin, which come into the area from January through July. These giant members of the billfish family average 300-400 lbs, but marlin over 1000 lbs have been landed.

Offshore species also includes the delicious and beautiful Dorado (mahi-mahi) as well as yellow fin tuna that can exceed 300 pounds. Many local restaurants will prepare your catch of the day in an authentic Mexican dish. Inshore angling is just as inviting. World record Roosterfish prowl the beaches and nearby rocky lairs. Anglers fishing inshore can expect to catch snook, pompano, rainbow runners, bonito, snapper, grouper and a host of other fish.

Ixtapa Zihuatanejo has deep ocean water just minutes from the bay and favorable currents allow larger numbers of game fish to migrate along these waters throughout the year. The nutrient rich inshore water carries huge amounts of baitfish and the area teems with marine life. The sport fishing is fantastic and accessible shortly after leaving the dock.

First time anglers and families with smaller children enjoy the normally gentle seas. Visitors can rent a wide variety of boats from the sleek 25 foot super-pangas to the high-tech 35 foot Cabo yacht. Charter prices range from 210.00 USD per day for a “super-panga” to a high range of 700 USD per day for the top of the line luxury Yachts. Your local Mexico real estate agent can provide more information about things to do and see in Ixtapa Zihuatenejo.

Tag & release was introduced to the captains and crews in 1994. Each year more and more crews participate and several have been recognized internationally for their conservation efforts. This area is also home to the “Ixtapa Zihuatanejo total Tag & Release tournament” designed to increase awareness of the conservation effort of marine life. The tournament consists of both an inshore and an offshore division and both are recognized as qualifying events for the international Game fish Associations Invitational Tournament.

Ixtapa-Zihuatanejo deserves its reputation as being “Twice as Pleasing”. The incredibly beautiful weather, calm seas, huge populations of game fish, experienced captains, well equipped boats, internationally recognized sport fishing tournaments, and value driven pricing makes the area attractive to visitors and residents. Contact a local Mexico realtor to explore properties for sale and rent in this beautiful area of Mexico.

Your beachfront property in Mexico is within your reach. Check out the listings of Playa del Carmen Real Estate, Puerto Vallarta Property and Cancun Real Estate for insight into this booming market.

Prospects for the property market are looking particularly enticing with double-digit capital appreciation forecast for the next year. Adrian Lillywhite of Cape Verde Property sees a 15 to 20 per cent rise in 2008, “particularly in the better locations and as the infrastructure improves.” Carley Todd, GEM Estates’ Cape Verde expert thinks 30 per cent is not an unreasonable estimate of price rises in the next year, having risen by around that much in 2007.

Steve Worboys, director of Experience International believes that, if the recent boom in tourism is anything to go by, Cape Verde has an extremely positive future. “In 2006 there was a rise in tourists by over 25 per cent, and the National Statistics Institute (INE) has forecast around one million tourists annually by 2015.” The rising number of tourists can only be an asset to property owners, who can turn a rental penny, although it is still too early to get a clear prediction of rental returns.

Carley Todd adds: “Hotels in Sal have 92 per cent occupancy and holiday companies will need 400 rooms extra per week to deal with the demand. We can’t guarantee any figures but it is looking very good and by the time developments come to completion rental yields are expected to be phenomenal.”

If you are after a definite rental yield, Cape Verde property specialist TOPA is offering a leaseback option through developer Tecnicil, at the Vila Verde development on the island of Sal. The option includes a net annual rental return of five per cent over two years if the property unit is available to the management company 48 weeks per year. If you want to use your property more than that, the return will be pro-rated according to the usage rate.

Although not the largest or most populated island, Sal is streets ahead at attracting tourists and property development, luring Brits with direct flights from the UK from both Manchester and Gatwick airports. The main tourist town on the island, Santa Maria, is the furthest along the development route, with completion dates now in sight and more infrastructure than you can expect on the other islands (although even this is still some way from the standards of second-home destinations in Western Europe). Adrian Lillywhite says of the island: “The natural beaches are stunning and the area is quickly developing. There are now some excellent high-quality developments and plans for four golf courses and three marinas on the island.”

Dunas Beach resort is a short stroll from the centre of Santa Maria and will be built on the front- and second-line to Ponta Preta beach, with a golf course planned for further along the development schedule.

Apartments start from (£62,000) and detached villas from €299,950 (£226,000), through Experience International.

The Cotton Bay Marina & Golf Resort is being developed on the west coast of Sal island with a range of properties and hotels complemented by a 300-berth marina and two 18-hole golf courses. Billed as an eco-compatible resort, there will be green zones and a park as well as a sports centre with football fields, swimming pools and tennis courts. The first phase is due for completion in 2009 and the marina and golf course around 2010. Prices start from €126,000 (£95,000) euros for a one-bedroom apartment to €1.26 million (£950,000) for a fron-tline villa through GEM Estates.

TOPA is selling apartments and villas at the Pedra de Lume Golf and Marina resort on Sal from €85,000 (£64,000) or front-line apartments at Paradise Beach with adjacent golf course from €160,000 (£121,000).

Boa Vista is being touted as the next Cape Verde island hotspot, although right now you’ll have to imagine the luxurious new villa-complexes being sold off-plan along the sand beaches because this is very much the beginning of the property development road. With a brand new international airport just opened, charter flights from London have recently started, which will kick-start the anticipated tourist boom. The Sabi Sands resort in Rochinha is one of the many new-build developments for sale on the island. Situated 300 metres from the beach, the resort will include apartments, townhouses and villas, two swimming pools and a restaurant. There is also a five per cent rental guarantee offer for two years and prices start from €91,828 (£69,000) for a studio apartment through Cape Verde Property Ltd. Alternatively, the company is also selling studios in Casa Boteto on Estoril Beach from €45,800 (£34,500) or a two-bedroom penthouse in Por do Sol on the front-line of Cabral Beach for €160,000 (£121,000).

Sal and Boa Vista are part of the drier eastern islands of the archipelago, while the other up-and-coming development hotspots of Sao Vicente and Santiago tend to be greener and more mountainous but with fewer beaches. Santiago hosts the country’s capital at Praia and is home to around half the population of Cape Verde. The dearth of beaches hasn’t limited the development of the island, which benefits from an international airport at Praia and direct flights to the UK.

Despite fewer miles of sand, Adrian Lillywhite says the beach at Sao Francisco is good and points to a new development called Sunrise Beach that will launch shortly right on Sao Francisco beach, with prices for a two-bedroom apartment from €150,000 (£113,000).

The island of Sao Vicente is the cultural heartland of the country and its main port town of Mindelo boasts the birthplace of Cape Verde’s world-renowned singer Cesaria Evora. Outside of Mindelo the island is still relatively undeveloped, but with yet another new international airport opening up in the next year, the property developers have already begun to stake their lots on the island. TOPA is selling apartments and villas at the Fortim Mindelo beachfront development from €335,000 (£253,000).

Alternatively, the Boat House, being built on the Baia das Gatas coastline, offers properties, most with sea views, from €235,000 (£177,000), also through TOPA. For something with a bit of history, Cape Verde Property is selling a five-or six-bedroom colonial house with views over Mindelo Bay, which is in need of some renovation and is for sale for €525,000 (£396,000).

Because of the property market’s infancy, getting non-resident finance for off-plan properties can be difficult, although there are some products slowly coming to the market. International Mortgage Solutions offers a range of mortgage products through a Portuguese and Cape Verdean bank, which include stage-payment bridging loans for off-plan purchases. The process of buying is similar to the continental system using notaries, and government tax and legal costs add around six per cent to the purchase price.

In an emerging market like Cape Verde it is imperative to use a good English-speaking solicitor and it is also better to visit the islands to fully understand where and what you are buying.

British consumers are refusing to relinquish their holidays abroad. Despite the credit crunch and weakening pound. Which makes happy reading for the owners of holiday property in Lanzarote. As new figures recently released by AENA, the Spanish airport authority, reveal that British visitor numbers to Lanzarote have surged by 15.6% during the first half of 2008.

Lanzarote has long been a hot favourite with British tourists and property investors. The eastern most Canary Island is located just off the coast of Saharan Africa. A location that creates a year round clement climate. As well as a year round tourist calendar. Ensuring twelve months worth of rental returns for the owners of apartments and holiday villas in Lanzarote.

Prior to the release of the AENA figures some observers had postulated that the advent of the credit crunch could sound the death knell for overseas holidays. But the AENA figures have confounded any such fears – with 509,755 British tourists holidaying on the island during the first six months of 2008. An increase of 15.6% on 2007.

And it´s not just the British who are reluctant to give up their sunshine and sangria. Lanzarote is the most popular destination in Spain with Irish tourists. A position further cemented by the fact that 123,047 tourists from Eire visited the island during the first half of 2008. An increase on 2007 of 5.4%.

Dutch, Swedish, Swiss and Norwegian tourism has also increased across the same period. And even the Spanish are getting in on the act. With the Canary Islands Tourist Board reporting an increase of 3.7% in visitors from the mainland during the first half of 2008.

Lanzarote is heavily reliant on tourism – which accounts for around 90% of all economic activity. So the figures demonstrate that the market fundamentals remain in good shape on the island. Despite the worsening economic situation internationally.

As a result, demand for property in Lanzarote remains relatively buoyant amongst overseas investors. Especially as prices have started to soften in the last six months as local banks impose more realistic valuations on vendors.

This has created an increase in the amount of price-reduced property on the market. Enabling buyers to secure apartments and villas – ideal for holiday rental programmes – far more cheaply than even a year or so ago.

Apartments in the main holiday resorts are now on the market from around €70,000 upwards. Whilst villas with private pools start at the €250,000 mark.