Real Estate Investor Magazine South Africa December/ January 2018/2019 | Page 57

MAURITIUS
Mont Choisy La Réserve, Phase 3 of this premium estate,
which is formally being launched via Pam Golding Properties
Mauritius in December 2018, offers a new opportunity to buy
into the most sought-after development on the island.  Flush
with facilities, the estate boasts the 18-hole Peter Matkovich
championship golf course and club house, Beach Club and
Leisure centre including tennis, action court, yoga, gym and
spa.
“We’re also seeing huge returns in Element Bay, a few
minutes from Grand Baie, where we’ve just concluded a
resale for a two-bedroom penthouse which was acquired for
USD370 000 and sold for USD 500 000 three to four years
later. This development includes a gym, swimming pool and
variety of water sport activities and is only a minute’s walk to
the beach.”
Rental incomes are also providing owners in prime located
developments such as these with 3.5-4.5% gross yield per
annum on top of capital growth. Adds Haller: “On all the
residential development units we are selling we now offer a
fully-fledged rental service whereby we manage the property,
source and scan tenants and collect rental on your behalf. The
other option is a short-term rental where your property enters
a rental pool and is let to holidaymakers for up to 65 days’
usage and 125 days for your own use.”
At Mont Choisy, Pam Golding have sold out the first two
phases, upmarket, fully -furnished, luxury three-bedroom
penthouses are let at USD350 per night and for USD160 for
self-catering units at the more mid-level Element Bay.
Increasingly, says Haller, the trend among travellers is
to look for luxury rentals which resemble more of a home-
from-home than a hotel. They prefer standalone villas or
luxury apartments where they can enjoy luxury island living
while using on site facilities akin to a resort. Expats on work
contracts generally seek a corporate rental for a period of
about three years, mostly in the price range from Rs50  000
(Mauritian Rupees) to Rs130 000; USD1 500 to USD3 800
per month, while luxury rentals are between Rs130 000 and
Rs325 000; USD3 800 to USD9 500.
In the north in Grand Baie, Pam Golding is marketing a
new resort-style development called Ki Resort Apartments,
which is aimed at the South African residency and investment
market. This is situated in Pereybere, a few hundred metres
from the coastal road, offering access to the developers’
2BeachClub right on Pereybere beach. This development is
proving very popular with two-bedroom units selling from
USD290 000. Residents have access to large swimming pools,
a fully-equipped gym, café, underground parking and store
rooms.
Another development in Grand Baie, a minute’s walk
from the beach and 2BeachClub is Serenity Villas, with
well-appointed three- and four-bedroom villas starting from
USD2.66 million. Designed by world-renowned architect
Stefan Antoni of SAOTA, the estate includes a fitness centre
and swimming pool set in landscaped gardens.
In an elevated position in sought after Black River on
the west coast in Tamarin, with sea and mountain views and
conveniently near the airport, a luxury development called
Akasha Villas is currently under construction, comprising
freestanding, three to six-bedroom villas with large verandas
and spacious living areas well-priced from USD910 000. 
Another prime beachfront location in Black River is a
resort-style development, Asmara Beachfront Residences,
with views of the La Tourelle mountain range and with
apartments priced from USD660 000. Haller says it’s very rare
for foreigners to be able to buy units on a beachfront site in a
development such as this, with a pool and beach club, tennis
court, gym and spa. 
Boom in commercial real estate
Adds Haller: “With more and more companies setting up
business in Mauritius, from as far afield as such as South
Africa, India, China and countries in Asia, Europe and
America, the island has experienced a boom in commercial
real estate activity, with increased demand resulting in the
development of many new office, industrial and warehouse
buildings – notable growth which is expected to continue for
the foreseeable future. At present commercial property enjoys
a yield of about 8% per annum. Helping fuel the demand for
high quality office and retail space is the increase in middle-
class consumers adopting a Vida e café culture and wanting to
enjoy a vibey retail experience with new brands.
“As a consequence of this boom in the commercial space, we
are seeing a strong demand for good A grade office space as
well as warehousing in the Freeport Zone, which is a sizeable
duty-free logistics, distribution and marketing hub.”
Commercial property currently available includes brand
new A grade space in the four-storey Mont Choisy Business
Quarters in Pointe aux Canonniers in the north of Mauritius.
To be completed in July 2019, investors or owner-occupiers
have the option to customise these shells and core office spaces,
ranging in size from 32 to 94sqm plus parking, at prices ranging
from USD105 000 to USD 308 000. The building will have 24-
hour security, CCTV cameras and high-speed fibre optic.
SOURCE: Mont Choisy; Pam Golding Properties
SA Real Estate Investor Magazine DECEMBER 2018/JANUARY 2019
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