Cape Verde welcomed 981,000 European tourists in 2024 — a +11% increase year on year. With tourism accounting for 25% of GDP and major chains like Hilton, RIU, Meliá and TUI expanding operations across the archipelago, the question is no longer whether Cape Verde is attractive for tourist rentals, but how much you can actually earn per island.
This analysis compares the main islands with real profitability data, purchase prices, average occupancy and estimated net return for a European investor in 2026.
Why Cape Verde is ideal for tourist rental
Monetary stability. The Cape Verdean escudo has been pegged to the euro (1 EUR = 110 CVE) since 1999, eliminating currency risk for European investors.
No visa for Europeans. EU citizens can live and work in Cape Verde without a visa. Managing a rental property from within the country is simpler than in other African destinations.
Direct air connectivity. Flights from across Europe: easyJet, TUI, Transavia, TAP, Edelweiss, Binter and Cabo Verde Airlines connect the archipelago with Madrid, Lisbon, London, Paris, Amsterdam and Zurich in 4-6 hours.
+41% European investment growth in 2024. €20.5 million in a single quarter. Major hotel chains are investing heavily, pushing up prices and rental demand.
Outstanding stability rankings. 40th in economic freedom, 29th in governance (1st in Africa), 35th least corrupt country. Critical data for investors seeking returns without political risk.
Sal — The tourist rental leader
Sal is Cape Verde's most touristy island. Santa Maria hosts luxury hotels from RIU, Meliá and TUI, with an economy entirely oriented toward European tourists.
Demand: High and consistent year-round. Peak season (November-March): 85-95% occupancy. Off-season: above 60% thanks to surf and kitesurf tourism.
Purchase prices:
Estimated gross annual income (2-bed apartment, avg price €275,000):
After management fees (15-20%), maintenance and taxes (~€3,700): Estimated net ROI: 6-9% annually.
Best for: Pure tourist rental. High liquidity, mature market, consolidated demand.
Boa Vista — The emerging diamond
Boa Vista has beaches ranked among Africa's best: vast, pristine, with turquoise waters and sea turtles. With the Chaves Resort established and new international investment arriving, the island is in full tourist maturation.
Demand: Growing. Peak season (November-April): 75-85% occupancy.
Purchase prices:
Estimated net ROI: 5.8-6.5% annually on an average price of €190,000.
Additional advantage: Higher appreciation potential than Sal (less mature market), adding 8-10% per year in capital gains to total return.
Best for: Combining rental yield and capital appreciation.
Santiago — Residential rental and development projects
Santiago, home to the capital Praia, has a more residential than tourist profile. The ECOurbana Village project — 10 minutes from the international airport and 9 minutes from the beach — is attracting medium-to-long-stay rental demand.
Purchase prices:
Residential rental returns:
Total projected ROI: Rental income + projected 8-12% annual appreciation = 14-18% total return in the early years for projects like ECOurbana Village.
Best for: Long-term investment with less dependence on tourist seasons.
São Vicente — Growing cultural niche
Mindelo, capital of São Vicente, is Cape Verde's most cosmopolitan city. The archipelago's most famous Carnival and a unique music scene generate growing cultural tourism.
Estimated ROI: 4.5-6% net for well-positioned rentals. Opportunity for creative investors with boutique properties.
Comparison table: yield by island in 2026
| Island | Est. net ROI | Entry price | Avg occupancy | Profile |
|--------|-------------|-------------|---------------|---------|
| Sal | 6-9% | €150k - €350k | 70-85% | Pure tourist |
| Boa Vista | 5.8-6.5% | €100k - €240k | 65-80% | Tourist + appreciation |
| Santiago | 5-7% | €71k - €180k | Year-round | Long-term |
| São Vicente | 4.5-6% | €80k - €200k | 50-70% | Cultural |
Management: what you need to rent successfully
Typical management costs in Cape Verde:
Conclusion
With 981,000 European tourists in 2024 and +11% growth, Cape Verde is not a trend — it's a consolidated market. Major hotel chains don't invest hundreds of millions in a destination without a future. For the individual investor, 2026 remains a window of opportunity. Boa Vista and Santiago prices in particular are still competitive, and with the euro pegged to the escudo, currency risk is zero.
Use StakeCV's ROI calculator to simulate your returns before buying, or browse available properties filtered by island and property type.
