Mauritius, fabulous new development on pristine north coast
Category International
Mauritius is not only the fastest growing economy on the African Continent, but it is now a top destination for real estate offering stunning island properties. What’s more, says Mrs Séverine Dalais-Pietersen, Marketing Executive for Seeff Mauritius, these are geared towards foreign buyers who are wasting no time to take advantage of the island lifestyle.
Generally, there is a mix of apartments, penthouses and villas in either beach estates, close to the beaches or golf estates available to foreign buyers. The properties usually come with five-star amenities either onsite, or easily accessible.
Aside from being a holiday destination, Mauritius has become a desirable business opportunity and drawing more South Africans emigrating to the island due to the favourable residential visa-scheme. It is also now geared towards digital nomads and retirees with special visas available.
Suitable prices for foreign buyers (including South African buyers) range from around R3.7 million for a good, modern apartment. There is also a strong rental market which means property owners can rent out their property either full time as a rental investment, or during the period when they do not need it for their own use.
There is currently huge demand from South Africans looking at investing in Mauritius. The two most popular areas are on the north and west coasts. There has been a change in buyers’ criteria compared to the pre-Covid period with most buyers now looking for completed properties or developments where construction has started.
The reason for this is that many South Africans are looking at buying for investment purposes as they do not particularly want to leave SA right now, but are thinking of the future. They are taking some of their money out of SA (and could also take a loan in Mauritius) to finance the property which enables them to get a foothold in Mauritius should they need to leave SA urgently.
Some are also looking at investing in a smaller property as a start which will bring them a good return in a bank account opened in Mauritius (hence the fact that they are not prepared to wait too long for an off-plan development to be delivered).
Should they decide to move to Mauritius after ten years for instance, they would then sell their 'smaller' investment property at a profit and invest in either a bigger property or in a property better suited to their desired lifestyle.
With real estate prices rising globally almost daily, she says now is the right time to buy property on the island. Mauritius is very accessible with regular flights. It is at the forefront of business development with excellent internet and financial services along with excellent facilities and amenities from schooling to medical care.
A great new development, ideal for the South African market which is located in the pristine north of the island’s Grand Gaube area, is already under construction. She says it offers a mix of apartments, penthouses and luxury garden houses, all set within a lush green environment.
It also offers sea views for most apartments which is rare in the north. The penthouses have magnificent views over the lagoon and the islands. Both the penthouses and garden houses all come with a private swimming pool. Shared amenities include two infinity pools, a clubhouse, gymnasium and beautiful green spaces.
The Lux Grand Gaube Hotel is a three-minute walk and property owners are able to take out a year-round membership with the hotel which will give them access to superb beaches as well all the hotel facilities.
Prices start at R7,34 million (MUR 20,000,000). This area of the island is growing, and it is good to invest now, she adds. The price per square metre for this development is still very reasonable and properties could produce good capital gains in a few years.
Contact Seeff Mauritius at mauritius@seeff.com or visit the website at Mauritius Seeff
Photograph/s enclosed
This new development in the pristine north Grand Gaube area offers a choice of apartments, penthouse and garden houses (both with private pools), all set in a lush green environment with access to amenities such as two infinity pools, a clubhouse and gymnasium as well as the ability to take out a membership at the Lux Grand Gaube Hotel for access to superb beaches and all the hotel facilities.
New-development in Grand Gaube
Author: Gina Meintjes
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