Reasons investors, families choose Mauritius

A SERIOUS player in the African economy, Mauritius seems now more than ever a sought after destination for South Africans, says Richard Haller, Director for Pam Golding Properties Mauritius. Investor-friendly and with strong governance, the business and real estate activity on“Over the past three years we have seen a significant increase in the number of families making Mauritius their home – in particular, families from South Africa as well as France, using Mauritius as their gateway to Africa, while enjoying the excellent lifestyle and easy, safe living environment. In fact, over the past 12 months we have seen a dramatic escalation in interest from South African families and older couples looking to reside on the island, where there is a growing requirement for skilled professionals. As a result, there is a demand for rental property from younger families moving here to take up work-related opportunities.

“Added to this, the appetite among South Africans to diversify their investment portfolios has gained further momentum. So there is a strong demand to acquire property which includes permanent residency, as well as providing an offshore investment bolthole.”

The purchase of property in Mauritius is a good allrounder as it:

• Offers some offshore exposure to those who are heavy invested in ZAR

• Offers permanent residency to purchase, including spouse and children under 24 yrs.

• Can be used as a holiday apartment or for a few months a year for those who are now retired.

• It’s close to South Africa so travel is easy

• English is widely spoken and lots of South Africans reside here so it’s easy to network.Haller says real estate activity continues to be centred around the areas of Grand Baie on the north coast and Black River on the west coast, mainly in the price range from USD300 000 – USD2 million. Buyers are increasingly interested in the infrastructure, activities and sense of community that these areas offer, being so close to schools, restaurants, shops and medical care, creating high appeal for those residing permanently on the island.Adds Haller: “In the North in Grand Baie, we have a new development called Ki Resort Apartments which is aimed at the South African residency and investment market. This is situated in Pereybere, a few hundred metres from the coastal road, offering access to the developer’s 2BEACH CLUB, located on beautiful Pereybere Beach. Ki Resort Apartments is proving very popular and offers a three-bedroom apartment with parking, storeroom and furniture for Rs18.7 million (ZAR 7.6 million), while two-bedroom units are also available from Rs11 million (ZAR 4.5 million).

“On the West coast in Tamarin, we are marketing a development called Akasha Villas, which is a beautiful estate on the plateau with views over the ocean and towards the mountains. Here freestanding river villas, which start at Eur690 000, are very popular among South Africans looking for a home or a strong rental investment.”