August 4, 2022
New Mauritian Residential development ups the lifestyle ante
New Mauritian Residential development ups the lifestyle ante
Mauritius has become the number one hotspot for South Africans looking to invest in offshore real estate, establish a plan B or move their families to a safer, more prosperous region that isn’t too far from family and friends back home.
And, with the Mauritian real estate market having seen capital growth of over 300% in the past 10 years whilst our local market has stagnated, it’s no surprise that South Africa represents one of their main sources of foreign direct investment flows and, second only to France, accounts for 21.7% of the property investment market in Mauritius.
In order to cater to this demand, numerous upmarket residential estates have been developed under the a Property Development Scheme (PDS), including the newest offering, Harmonie Golf & Beach Estate, in the popular Black River region which is taking residential development to a new level.
Developed in partnership with renowned luxury resort group, Beachcomber, and in tandem with a neighbouring resort, the goal is to create the ultimate tropical lifestyle experience for discerning investors and their families. And, with environmentally responsible building at the core of the overall design, the developers have embraced bioclimate architecture in order to optimise that stunning natural environment and to have the least possible environmental footprint and buyers will also have to option to be 100% off the grid.
To further lure investors, The Mauritian government has adjusted their investment criteria, making it even easier than before to not only own a slice of paradise but to also gain residency.
South Africans living in Mauritius mostly reside in one of numerous upmarket residential developments on the island’s beautiful coastline which have been designed to offer the quintessential island lifestyle, but the new kid on the block is elevating the experience to a new level.
Situated on the west coast in the sought-after Black River region and due to break ground early next year, Harmonie Golf & Beach Estate is being developed in partnership with renowned luxury resort group, Beachcomber, to create the ultimate tropical lifestyle experience for discerning investors.
“Not only is it set in an idyllic location between mountain and sea with sweeping views of the region, boasting generous plots sizes averaging 2000m² with a build area of 400m², it’s being developed in tandem with the neighbouring Harmonie Beachcomber Golf Resort, the ultimate summer village for the whole family.
“A veritable playground offering a beach bar, restaurants, sports centre, kids club, water sports spa and even a craft village, Harmonie Golf & Beach Estate residents along with their guests will, of course, enjoy preferential rates throughout the resort.”
Harmonie Golf & Beach Estate, a Property Development Scheme (PDS) project, consists of 220 luxury villas that will be built on 73 hectares of land abutting an 18-hole golf course with sales for the first phase comprising 81villas and residential plots launched earlier this year.
“This truly is an exceptional development in all aspects,” says Timo Geldenhuys, Director of Sotheby’s International Realty in Mauritius.
With environmentally responsible building at the core of the overall design, developers, the Beachcomber and Semaris Groups, have embraced bioclimate architecture in order to have the least possible environmental footprint.
“All three villa types will use a set of sustainable and innovative architectural concepts to make full use of the landscape of each plot as well as natural ventilation and lighting through a well-thought-out orientation and will include a landscaped patio to serve as a green lung for each villa.
“A smart layout of rooms and openings to promote natural air circulation and a well-considered choice of materials will minimise the carbon footprint during construction and reduce the use of mechanical equipment.
“The villas may also be equipped with photovoltaic solar panels to give future owners the option of having a 100% off-grid villa.”
“Investors will have two options: ready-built villas available off-plan to Mauritian and foreign buyers under a VEFA contract with three interior design packages from which to choose and serviced plots available exclusively to Mauritian buyers with strict architectural guidelines for villa construction.”
Geldenhuys adds that the Black River region, itself, offers a unique quality of life, especially for expats.
“This area is very popular with families from around the world as it boasts excellent international schools and a host of world-class services ranging from a private clinic, supermarkets and all manner of retail offerings to restaurants and cafes and markets as well as an array of leisure activities.”
Grahame Diedericks, International Liaison for Lew Geffen Sotheby’s International Realty, says:
“Mauritius remains the top destination for South Africans looking to invest offshore, establish their Plan B or move their families to a safer, more prosperous region that isn’t too far from family and friends back home.
“And, with the Mauritian real estate market having seen capital growth of over 300% in the past 10 years whilst our local market has stagnated, it’s no surprise that South Africa represents one of their main sources of foreign direct investment flows and, second only to France, accounts for 21.7% of the property investment market in Mauritius.
“Adding to that is the island’s long list of accolades and awards, with the most recent being named the Best Country to Work from in the Region by KAYAK and, with remote working so prevalent since Covid, Mauritius has become even more attractive to investors from around the world.”
Diedericks says that the Mauritian government has also been very proactive in encouraging and securing foreign investment since the implementation of the programme with the most recent amendments making it easier than ever to relocate to the island.
“The minimum real estate investment required to obtain residency has been lowered from USD 500 000 to USD 375 000 with the permanent residence card now being valid for 20 instead of 10 years.
“And the minimum investment amount for obtaining an Occupation Permit (OP) was reduced from USD 100 000 to USD 50 000, with the OP’s validity extended from three to 10 years whilst the minimum turnover and investment requirement for an Innovator Occupation Permit has been completely removed.”
He adds that Mauritian banks are also offering mortgage loans that are accessible to foreign investors at an interest rate of between 7% and 9% with a 40% deposit required.
However, it’s not only families that are moving to Mauritius, but also many South African businesses who are taking advantage of a multitude of incentives.
“Over and above the favourable taxation benefits, the island has racked up a number of compelling awards in recent years in terms of business achievements which not only contributes to creating an appealing, functional and positive business environment, it also inspires investor confidence.
“These include: Economic Freedom of the World (2017, Fraser Institute), Forbes Survey of Best Countries for Business (2017) and the Global Competitiveness Index (2017-2018) as well as first place in Africa and 25th position overall out of 190 countries on the World Bank’s Ease of Doing Business Report.”
Plot and plan prices at Harmonie Golf & Beach Estate range between EUR1 490 000 and EUR2 020 000.