Fogo wine sends land values soaring in Chã das Caldeiras
Vine-planted plots on the caldera's lava are now selling for well above the price of conventional farmland.
Saturday 29 de August de 2026 · Macaronesia
Vine-planted plots on the caldera's lava are now selling for well above the price of conventional farmland.
The former administrative centre is looking to the restoration of its colonial heritage as a way to attract investment and halt decay.
Environmental protection of the massif imposes strict building limits, reducing the value of neighbouring land.
Emigration to the Netherlands, the United States and Portugal has left a stock of homes shut up for most of the year.
The popularity of the Baía das Gatas music festival is driving up demand for second homes, creating seasonal pressure on the property market.
The average rent for a two-bedroom flat in central Praia has risen sharply, driven by civil servants and families moving from other islands.
The council has set aside a number of municipal plots for low-income families.
The construction and services boom stands in stark contrast to the lack of affordable housing for the very workers who sustain it.
The authorities have announced public land on the outskirts of Praia to promote affordable social housing.
A small but growing number of European buyers are enquiring about land and homes in Maio, drawn by far lower prices.
The council has announced that a limited number of municipal plots will be sold at a reduced price to families struggling to find a home.
In the farming areas at the foot of the massif, agricultural workers face an almost non-existent housing supply.