Island Paradise: Exclusive Property Opportunities in Mauritius
If you’ve dreamt of owning your own property in exotic climes, you can’t get much better than Mauritius, in the Indian Ocean. But it’s only in recent times that the property market here has opened up to foreign buyers and, even now, there are still limited opportunities available.
The Mauritian government first opened up the property market in Mauritius to foreign buyers in 2001, but the move was made with tight restrictions. The local authorities are keen to ensure the island doesn’t get overtaken by growth, which is seen by many as a wise move, so they established what’s known as the Integrated Resort Scheme (IRS). The IRS has allowed about 3,000 luxury properties for foreigners to be built and several of the off-plan developments are now on the Mauritius property market.
As well as limiting the number of properties for foreigners that are built, the Mauritian government has also put a law in place that properties cannot be priced at less than $500,000. Plus there’s a land registration fee that has to paid by buyers and, at $70,000, it’s quite steep.
But if you do have a big budget to play with and are looking to invest in a luxury and rather exclusive part of the world, the developments on offer look highly tempting.
The Banyan Tree Corniche Bay, designed by Foster and Partners’, is situated on the west coast of the island and consists of 115 villas, hotel and spa. Golf is also a key selling point with the development’s Gary Player golf course.
On the south of the island is the Villas Valriche development of 288 two, three and four bedroom detached villas. Again, golf is a prime feature here too, with the 18-hole Golf du Chateau championship course. Elsewhere, on the east coast of Mauritius you’ll find the Anahita Resort. This is being developed by Ciel Investment on an old sugar plantation and will eventually include 300 homes.
Mauritius isn’t the quickest of places to reach if you’re buying a holiday home - it’s a 12 hour flight from the UK - but for an extra special holiday hideaway, or an exclusive investment property, it does have lots to offer.
Technorati Tags: Mauritius Property, Mauritius real estate, real estate, real-estate, real estate news, luxury property, off plan property, off plan, property investment, real estate investment, overseas property
