select
|

Ongoing global demand for luxury villas on Eden Island, Seychelles

With 316 units now completed out of the total of 387 homes sold to date on the idyllic Eden Island marina in Seychelles, this well established destination is meeting what is clearly a global demand for the ultimate tropical island lifestyle, says Chris Immelman, MD of the International & Projects division of Pam Golding Properties.

These sales equate to a total value of in excess of $325 million or over R2.44 billion.

“In February 2012 alone we achieved sales of $8.695 million at Eden Island, despite the fact that the year began with a relatively quiet trading period in December 2011 and January 2012, however, these are historically times when many are away on holiday and some businesses closed.  Positively, this year seems to be following the same pattern as 2011, when February through to May was our busiest trading period of the year. Interestingly, we are finding the top of the range villas are selling well along with the usual flow of maisons and apartments.

“We are now leading up to the final phases of the development and are confident that 2012 will be a good, albeit challenging year as the world economy remains under pressure. In regard to South African purchasers at Eden Island, the current relatively strong rand is proving a favourable incentive as is the desire for off-shore investments, although we find that in the existing economic climate they are placing a strong emphasis on value.  While a high percentage of completed homes are utilised by owners, a key element for investment purchasers remains the rental pool, where rental yields average at approximately five percent per annum.”

Immelman says the buyer profile at Eden Island remains fairly constant, with a strong demand from Russian and Eastern European buyers. With daily international flights from Europe and Africa, the island is rapidly becoming a top beach holiday destination for visitors from around the world, and as a result, an increasing number of investors are taking note of real estate opportunities, including those purchasing to relocate, as a second-home base and for pure investment purposes. “We have certainly benefited from those investors seeking an alternative investment to volatile bourses, and Eden Island has an enviable track record in capital appreciation of units purchased. This increase in value is in the region of 30 percent on the original purchase price, and is further boosted by the fact that very few units become available for resale.

“We are also seeing a trend among existing homeowners to upgrade to a more expensive property or to acquire an additional property. This is arguably the ultimate in waterfront living, with the limited size of the island creating an exclusive archipelago which have ultimately accommodate a total of approximately 550 homes,” he says.

Sold with freehold title ownership, the prices of units at Eden Island range from one bedroom units starting at $385 000 through to magnificent villas which range from $2.6 million to $4.5 million. No stamp duty or VAT is payable. The units are fully air conditioned throughout with a choice of finishes and Miele fitted kitchens all included in the purchase price. Furniture packages are optional.

Construction of additional facilities on Eden Island continues apace with the tennis court complete and used on a regular basis with a tennis coach available for residents. The retail centre will open in the next few months, offering homeowners a whole new array of shops, restaurants and bars right on their doorstep - without having to leave the island. Eden Island already has three completed beaches, a fully equipped clubhouse, fitness centre, two resident swimming pools and delicatessen.

Each unit on Eden Island includes its own mooring and currently approximately 120 yachts are moored on the island, ready at hand to explore the many neighbouring islands. Super- and mega-yachts, which can be accommodated on the international marina, are also becoming more frequently seen at Eden Island.

Seychelles continues to demonstrate its economic resilience, having achieved economic growth of five percent in 2011 while managing to keep the cost of living under control. Despite increases in the prices of petroleum products, the cost of public transport remained the same while electricity tariffs and prices of essential commodities increased only slightly.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK