select
|

A 5-star, idyllic island lifestyle in Mauritius, Azuri Resort selling fast

Who would not want to own an island getaway? While many foreign buyers invest in holiday homes in South Africa, the question is what offshore destinations appeal to South African buyers and investors.

The most obvious choice is an island paradise home in Mauritius, says Seeff Mauritius Licensee, Theo Pietersen. While holiday apartments and homes on this idyllic island can set you back a few million, Pietersen says that the best value on offer here at the moment is the new five-star Azuri resort development located on the north coast of the island, about twenty minutes' drive from the capital city of Port Louis.

Selling at around 40 percent below other schemes on the island, homes here are offering exceptional value with prices starting at just R4,1 million for a 180sqm sea-front apartment, he says.

The development offers an idyllic ocean setting with additional river and forest views. Buyers can choose from a selection of lock-up-and-go options such as apartments, penthouses and townhouses set amidst beautifully landscaped gardens with swimming pools.

The architecture of the development blends modern design with plantation-style interiors that merge the typical Mauritian lifestyle of indoor and outdoor living. The development includes a five-star boutique hotel, private school, retail and restaurant facilities and a boat club with mooring facilities.

Investors and buyers also have the opportunity to participate in the rental pool programme that guarantees a 5 percent return for three years.

The units are selling fast, adds Pietersen. More than half of the units have already been sold. Seeff recently sold 16 of these units in one month alone, an indication he says of the exceptional value on offer. Buyers from across the country including Cape Town, Johannesburg and Durban are snapping up these affordable island buys.

Located only about a four hour flight from South Africa, Mauritius it is the ideal island getaway and almost a second home for many South Africans. In addition to the new Mall of Mauritius that opened towards the end of last year, the island has a number of familiar retail brands such as Woolworths, Pick n Pay, Fruit & Veg City and Mr Price to the island.

Many South African buyers have acquired a property in one of the development schemes that allows foreigners to invest in resort-scheme properties. Some have even relocated to the island to take advantage of the growing commerce here, adds Pietersen.

It is an exceptional investor-friendly environment. The country has a favourable taxation policy with a flat 15 percent income tax rate for private individuals and companies. It also allows full repatriation of capital and there is no capital gains tax on property nor are there any inheritance or wealth taxes. Property owners and their immediate families also quality for permanent residency. The favourable interest rate which is over 3,6 Mauritian Rupees to the South African Rand is yet another draw card for investors and buyers.

South African buyers also benefit in that they can buy into the scheme without using their annual allowance that could be taken out of the country.



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 23 Feb 2018
      RE/MAX Property Associates’ Table View Office, which services property buyers and sellers along the Table Bay coastline and surrounds, has recently sold a home in Woodbridge Island for R11 million – the highest price paid for any home in the sought-after security complex.
    • 23 Feb 2018
      Choosing to invest in an overseas property can be daunting. But as more and more investors recognise the value of a diversified portfolio that includes property outside of their own country of residence, international property investment is growing in popularity.
    • 23 Feb 2018
      The positive change in South Africa’s political landscape is paving the way for an upswing in the local property market.
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
        
    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