The cost of buying property in Cape Verde: taxes & fees
If you're considering buying property in Cape Verde, it's essential to understand the costs involved beyond the purchase price. These include transfer taxes, notary fees, legal costs, and more. Knowing these expenses can help you budget accurately for your investment.
This guide outlines the one-off buying costs, recurring costs of ownership, and other important financial considerations. Always verify details with a local professional to ensure compliance with current regulations.
One-off Purchase Costs
When buying property in Cape Verde, you can expect several one-off costs. These may include the transfer tax, which is typically a percentage of the purchase price, notary fees for the legalisation of the sale, and registration fees for the property in your name.
Conveyancing and legal fees are also part of your costs, charged by your lawyer or conveyancer to handle the transaction. On average, you should budget approximately 6-10% of the purchase price for these expenses.
Transfer Tax and Other Fees
The transfer tax in Cape Verde generally falls within a certain range based on the property's value. Besides this, you will incur registration fees and notary charges, which can vary widely by region. Always consult a local expert for precise figures.
Total Budgeting Estimates
Based on a typical property price of €135,000, if you budget an estimated 6-10% for total one-off costs, you should prepare for around €8,100 to €13,500 in additional expenses. This is a broad estimate and can fluctuate based on your individual circumstances and location.
Recurring Costs of Ownership
After purchasing, you will have ongoing costs associated with property ownership. This usually includes an annual property tax, which is a small percentage of the property value, community or condo fees if applicable, utilities like water and electricity, and home insurance.
Estimating these costs, you could budget around 1-3% of the property’s value annually for taxes and maintenance.
Mortgage Costs for Non-Residents
If you're a non-resident considering a mortgage in Cape Verde, be prepared for potentially higher interest rates than local borrowers. It's essential to research local banks or financial institutions that offer loans to foreigners, as terms can vary significantly.
Consulting with a local financial advisor can provide clarity on your options for securing a mortgage in Cape Verde.
Final Considerations
Always remember that the figures mentioned above are estimates and can vary widely based on local regulations and the specifics of your property. It's crucial to get reliable advice from a qualified local lawyer or accountant before proceeding with any transactions.
Staying informed and prepared can help ensure that your property investment in Cape Verde is successful and financially sound.
Frequently asked questions
What is the average total cost for buying property in Cape Verde?
Typically, total costs can range from 6-10% of the purchase price, including various taxes and fees.
How much should I budget for annual property taxes?
Annual property taxes in Cape Verde are generally around 1-3% of the property value, but this can vary by municipality.
Do I need a local lawyer when buying property?
Yes, it's highly recommended to engage a local lawyer to navigate the legal processes and ensure compliance with local laws.
Can I get a mortgage as a non-resident?
Yes, non-residents can obtain mortgages in Cape Verde, but terms may be less favourable than for residents.
What additional costs should I expect after buying property?
You should anticipate ongoing costs such as utility bills, maintenance fees, property insurance, and possibly community charges.
This guide is general information, not legal, tax or immigration advice. Rules change — verify the current position with official sources and a qualified professional before acting. Last reviewed July 2026.