Mauritius worth another look
South Africans looking to buy a cross-border holiday or retirement home, with the added benefit of qualifying for permanent residency and the potential for US dollar-based capital growth, should take a fresh look at Mauritius.
The Mauritian government last year introduced its new property development scheme (PDS), an amalgamation of two former investment schemes, which allows foreigners to buy property in approved projects. Foreigners who invest $500,000 or more qualify for a residence permit and the island’s favourable taxation benefits.
One of the first residential projects to be realised under the PDS is St Antoine Private Residence, a luxury estate that will be launched off plan next month. St Antoine, 10 minutes’ drive from the busy tourism hub of Grand Baie, is made up of 100 luxury, self-catering apartments and penthouses. Units are two (150 m2), three (150 m2) or four bedrooms (240 m2) and are priced between $500,000 (R7.5m) and $800,000 (R12m).
St Antoine offers Mauritian privileges