Land prices near Praia de Chaves triple amid new wave of all-inclusive resorts

A coastal strip growing ever more sought-after

The price of beachfront developable land rose from 3,000 to 9,000 CVE/m² in two years.

Large complexes, scarce land supply

Investment in Chaves and Santa Mónica stands at around 4.5 billion CVE.

Pressure on coastal land

Much of the coastline is protected, covered by dunes and turtle-nesting beaches.

Effects on the local economy

The revaluation is also pushing up commercial rents in Sal Rei.

Local landowners have their say

Several owners of plots in Chaves and Santa Mónica admit to having received offers far higher than what was on the table just two years ago. Some have chosen to sell, drawn by sums they see as hard to match in any other context, while others prefer to hold on to their property in hopes of an even bigger uplift. This split in decisions is creating a patchwork of sold and unsold plots along the coastal strip.

A comparison with Sal's tourism development

The phenomenon recalls what happened years ago in Santa Maria de Sal, where the arrival of hotel chains likewise sent coastal land prices soaring in a short span of time. The difference is that Boa Vista has a proportionally larger area of protected dunes and beaches, which more strictly limits the land available for new projects. Industry analysts suggest this scarcity could drive prices up even further in the coming years.

Concern over the conservation of sea turtles

Environmental organisations insist that building pressure must not compromise sea turtle nesting sites, a distinctive feature of Boa Vista's ecosystem. They are calling on the authorities for stricter oversight of permits granted within the protected strip, along with environmental impact studies ahead of any hotel expansion. For these organisations, striking a balance between tourism development and conservation remains unfinished business on the island.

Local businesses, caught between opportunity and uncertainty

In Sal Rei, shopkeepers consulted admit to mixed feelings about rising rents. While the growing number of visitors benefits some businesses, others with leases due for renewal fear they won't be able to absorb the new terms. The local Chamber of Commerce is calling for arrangements that let small businesses benefit from tourism growth without being priced out by the revaluation of commercial premises.