South Africans continue to buy up Seychelles’ Eden Island
SALES at the $460 million (R3.377 billion) Eden Island marina development in the Seychelles continue apace and Pam Golding Properties (PGP) national and international projects division reports that the demand for these homes among South African buyers is so strong that Eden Island has increased its sales force in South Africa.
“PGP has sold more than 270 properties at Eden Island worth over $210m and just under 50 percent of sales are to South African buyers,” says Andrew Golding, CE of the PGP group. “The strengthening of the rand to the US dollar has further boosted local demand.”
Most of these local sales are to Gauteng buyers, followed by the Western Cape, KwaZulu-Natal and the Eastern Cape. Other buyers at Eden Island include those from France – another key target market for this development – then the UK, Seychelles and Mauritius, Russia, Italy, Spain, Portugal and Poland.
Richard Epstein, project sales manager for PGP’s national and international projects division says this development is so popular among French buyers because they have always viewed Seychelles as a prime luxury destination.
Property investment is considered to be sound for rental for income and returns on long-term capital value.
As a result of the strong SA demand for homes on the island, Faye du Preez, sales manager for Eden Island, based in Seychelles for the past two years, has relocated to Cape Town to join forces with Epstein.
The developers recently released a further 18 apartments and 14 maisons (semi-detached duplex homes), priced from $345 000 which include a mooring, electric buggy and major kitchen appli- ances, and sales of these have already been brisk. Up to six families a property can apply for residency of Seychelles.
“There is no doubt the improved rand/dollar exchange rate and the SA Reserve Bank’s increasing the off shore capital investment allowance for individuals from R2m to R4m have further stimulated demand for offshore property investments.
“As Seychelles is a Souther n African Development Community (SADC) member state there is no limit to the amount South Africans can invest when buying holiday homes in Seychelles,” says Epstein.
Contact Richard Epstein on 082 882 8996 or email@example.com, or Faye du Preez on 072 650 7123 or e-mail firstname.lastname@example.org.
PARADISE: Eden Island marina with its luxury apartment blocks is in demand from local and international buyers.