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Wednesday Apr 01, 2009

New Mauritius development geared to SA buyers

A new residential development on the west coast of Mauritius is specifically targeted at SA buyers who want to acquire holiday or permanent homes on the Indian Ocean island.

That’s the news from Kentish Moorghen, GM of the Chas Everitt Davyland office in the Mauritian capital of Port Louis, who says the development is already attracting strong interest even though it has yet to be officially launched.

“Indeed, SA demand for property on Mauritius has increased to such an extent in recent times that it now accounts for the majority of our overseas business,” he says.

This demand is being driven by a stable inflation rate and the legislation that facilitates foreign property purchases - the IRS (Integrated Resorts Scheme) and the RES (Real Estate Scheme). The IRS caters to affluent buyers while the RES is geared towards the more budget-conscious purchaser.

The new development, named First Avenue, is being marketed by Chas Everitt Davyland under the RES scheme and will provide four types of accommodation totaling 49 units, at prices from around $500 000. Apartments, villas and two types of duplexes will be available and there will be a gym and spa in the complex.

Depending on the accommodation type, the owners will be able either to holiday at First Avenue for periods of three to six months or to live there permanently depending on whether or not the buyer is eligible for permanent residency, says Moorghen.

Building and land use permits for First Avenue have already been obtained and a model has been prepared. The Chas Everitt Davyland team will be in SA at the end of April to promote the development and will use the extensive Chas Everitt network in SA as their marketing platform.  






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