Property Investor information: Sao Tome and Principe
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Property Investor information for: Sao Tome and Principe
Discovered and claimed by Portugal in the late 15th century, the islands' sugar-based economy gave way to coffee and cocoa in the 19th century - all grown with plantation slave labor, a form of which lingered into the 20th century. Although independence was achieved in 1975, democratic reforms were not instituted until the late 1980s. Though the first free elections were held in 1991, the political environment has been one of continued instability with frequent changes in leadership and coup attempts in 1995 and 2003. The recent discovery of oil in the Gulf of Guinea is likely to have a significant impact on the country's economy.
Sao Tome and Principe is currently not recommended by The Property Investor Magazine for foriegn Property Investment due to this countries political and or economic situation.