First retirement scheme launched in Mauritius welcomes foreigners

With its foreign investment-friendly economy and appealing tax environment, Mauritius is increasingly regarded as a highly desirable primary residential and leisure destination. 

So news of the launch of the island’s very first retirement scheme which also caters for foreign buyers is bound to receive a very positive reception from the marketplace.

“This is not only the first retirement scheme on the island, it is also the first time that foreigners looking to relocate permanently or invest in Mauritius are able to do so through this kind of residential development,” says Chris Immelman, MD of Pam Golding Properties International & Projects Division. “Unlike South African life rights schemes, units in this Mauritian retirement scheme are owned on a full title basis.”

Aimed at the over-55s, the Le Domaine de Grand Baie retirement village is ideally positioned in the popular Grand Baie region in the north of the island, right next to the prestigious Le Parc de Mont Choisy Golf and Beach Estate in the greater Mont Choisy area. Bordering a newly designed 18-hole Peter Matkovich golf course, the new retirement village is centrally located with shopping and medical amenities only 200m away with the beach or the centre of Grand Baie just a short stroll.

The scheme is managed by Aegide, one of the largest retirement operators in France and part of the International property group Nexcity, which is among  Europe’s largest development companies and manages over 150 000 units. “They chose Mauritius as an ideal retirement destination not only for its idyllic environment, but because of the lower cost of living than Europe, being a great tax domicile for retirees and with a significant, existing foreign community in the Grand Baie region.

“A significant benefit for investors is the 11-year, guaranteed rentals of 2.99 to 4.26 percent, depending on the type of unit. Being a euro-based return makes this ideal as an offshore investment,” says Immelman.

Pricing of the units is globally competitive, with 155 catered and serviced apartments ranging from studios to three bedrooms starting from USD230 000 and ranging up to USD830 000 for penthouse apartments,  located in four blocks centred round common facilities such as entertainment areas, pools and open spaces. The retirement village also includes 10 exclusive three bedroom villas priced from USD 720 000. There is intercom communication to all residences and parking facilities for residents and guests on site.

The retirement village is at the heart of a 485 hectare park which includes walking and biking trails, a tennis court and shops. Residents will have direct access to Le Parc de Mont Choisy Golf and Beach Estate and the 800sqm Espaces-Club which includes a swimming pool, restaurant, spa, fitness centre, beauty salon and lounge bar.

Adds Immelman: “This is a modern development designed to provide an incomparable quality of life and a haven of tranquillity for seniors while maintaining their independence. The focus is very much on comfort, serenity and wellbeing for its residents thanks to the high quality of services available and friendly, caring staff.

“Like South Africa, there is a shortage of retirement accommodation in Mauritius and island locals are already buying into this scheme, which is now launched to the South African market. Grand Baie is already the most popular region on the island for South Africans and with the sound rental returns and potential for meaningful capital appreciation of the asset we anticipate equal demand from both investors and owner occupiers.”

Mortgage finance is available in Mauritius and foreigners have access to local medical aid at very reasonable rates, while hospitals are of a very high standard.

Construction of the new retirement development is planned to commence in May 2016.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

  • Craig Hudson - posted 30 Oct 2015 07:24 AM                                    

    Sound great

Latest Property News
  • 23 Mar 2018
    Durban’s rightful place on the ‘global map’ has been reaffirmed with the recent launch of the new Durban Monopoly board game. The second city in South Africa to be featured after Cape Town, the Durban edition features well-known landmarks such as Moses Mabhida Stadium, uShaka Marine World and The Pavilion Shopping Centre, among others.
  • 23 Mar 2018
    On Show Days, it's essential that you stand out from the crowd. Highlighting your home's finest features could help turn a browser into a buyer. We take a look at some tips to help you achieve the best possible result.
  • 23 Mar 2018
    After a distinctly lacklustre year during which a flood of new homes entered the market to vie for the diminishing attention of increasingly nervous investors, the housing market in Bedfordview kicked off 2018 with encouraging signs of recovery.
  • 22 Mar 2018
    Sustainability is currently a hot topic in the home and construction sector. In light of the progressing climate change and shrinking resources worldwide, it’s one of the most important issues to consider. Sustainable living is the practice of reducing your demand on natural resources by making sure that you replace what you use to the best of your ability.
  • 22 Mar 2018
    The 1% VAT increase which is set to take effect as of 1 April 2018 has set the country alight with many burning questions, most of which cannot be comprehensively answered by our knowledgeable friend Google.
  • 22 Mar 2018
    The picturesque and oft-misty town of Dullstroom in Mpumalanga belies its name. Judging by the rapidly increasing influx of weekend visitors, many of whom then look to acquire property here, it’s anything but dull, quips Anton Greeff, Pam Golding Properties area principal.
  • 20 Mar 2018
    Located close to the fast growing Fourways precinct, Dainfern continues to attract local and international interest from buyers seeking a secure lifestyle with affordable entry price of approximately R3 million.
  • 20 Mar 2018
    Property owners in the Durban CBD are addressing the affordability challenge that faces many prospective tenants in their area – and reconfiguring the inner city rental market in the process.
Subscribe to the MyProperty Newsletter

Last Name  
Email Address  
Email Frequency
Share this Page

For Sale Property
Rental Property
More Options
Connect with us