BUYERS IN PHASE ONE OF TAMARINA GOLF ESTATE & BEACH CLUB IN MAURITIUS DOUBLE THEIR INVESTMENT
- 16 Feb 2010
Ahead of the official launch of the second phase of 60 luxury villas in the Tamarina Golf Estate & Beach Club in Mauritius, the Pam Golding Property (PGP) group's International & Projects Division has already received 32 reservations with a waiting list of 11 further purchasers. Of these approximately 30 percent are South Africans, with the balance being buyers from Europe. Some 25-30 percent of purchasers at Tamarina live there permanently.
Dr Andrew Golding, CE of the PGP group comments: "The strong demand for this second phase at Tamarina is not surprising given the sound capital growth and desirability of homes in this development. This is born out by the fact that PGP has only had 12 re-sales in the first phase and all these sellers had doubled their original investment in approximately 18 months – from the time of taking transfer to selling on. At a total sales value of USD23 million for these 12 villas this equates to an average price of USD1.9 million.
"South Africans are increasingly drawn to Mauritius for a variety of reasons, including its idyllic lifestyle and easy accessibility, coupled with the fact that one can acquire residency through the purchase of residential property. They are also attracted by the potential for making a sound property investment, a factor which is underpinned by Mauritius' stable economy and positive global reputation, born out by the fact that in 2009 Mauritius was judged by the Ibrahim Index of African Governance as the Best Governed African Country, and also declared the World's Leading Island destination at the 16th World Travel Awards in London (November 2009)."
Tamarina was the first ever development in Mauritius to be marketed via the Integrated Resort Scheme (IRS), which enabled foreigners to purchase property in the country. Backed by a reputable and successful developer, this is a low density estate which includes arguably one of the best golf courses on the island.
Says Fabrice Orengo de Lamazière, a director of the International & Projects Division of PGP: "Such has been the success of the first phase of this development, with all 119 luxury villas built, we are finding that a number of those who purchased in the first phase are now looking to buy in the second phase – Akasha, Tamarina's River Estate. In addition to the appeal of a sound investment, a key reason for this is the spectacular location of Akasha, set on 24.5ha between the mountains and sea with breathtaking views of the river and of well-known Tamarin Bay."
He says the confidence shown in the second phase of the project is further boosted by the fact that there is tangible proof of the success of the project, not only with all the homes in the first phase completed, but with the 18-hole golf course and beach clubhouse already established, and grounds beautifully landscaped.
Akasha includes 28 river villas consisting of three bedroom units of 320sqm or four bedroom units of 350sqm, situated along the river on stands ranging from 900-1600sqm and selling at an average price of USD1.5 million. The development also includes 32 plateau villas in five different types, ranging from 350-450sqm on 2000-3200sqm stands located on the plateau overlooking the river, sea and golf course – along with scenic mountain views. Prices for these villas average around USD2.2 million.
Home owners in Akasha will have access to Tamarina Beach Club and golf course, with additional facilities including a restaurant and boat house (for kayaking). As per the IRS legislation, purchasers will also have access to Mauritian residency.
Issued by Gaye de Villiers