Mauritius
Delicious Mauritius W
ITH its colourful blend of cultures, year-round attrac- tive climate and 205 miles of white-sand beaches, the
tropical island of Mauritius is a well- established destination for honeymooning couples. Previously, those who fell in love with the island so much so that they wanted to stake a claim on it were unable to do so, but this all changed with the Integrated Resort Scheme (IRS), which was introduced in 2002 to increase foreign investment when traditional exports went into decline. Happily, the administration is encouraging us to invest in a piece of what must be the closest thing to paradise possible. A major force in terms of buyers has been
the South African marketÐ being just four hours by air means it' s within easy reach, and South Africans appreciate the security of the island. The high numbers of French buyers hark back to when the island was French, and the British are well represented
Ð often the second most frequent buyers on the island. Although it' s a 12-hour flight from London, the time difference (four hours) is mildly less discombobulating than
Measured and considered development under the watchful eye of a Government scheme has resulted in some classy options for would-be buyers on this exotic Indian Ocean island, finds Holly Kirkwood
FOR SALE $1.8m
Anahita/Four Seasons Residences Residents have access to all the hotel amenities. (00 230 404 2266;
www.anahitaproperty. com)
the Caribbean, and Britain still has strong links with Mauritius: it was part of the Commonwealth until 1968. Residents grow up learning English and French and drive on the left, and other cultural influences on the island include Indian, Chinese, and CreoleÐ everybody celebrates Christmas. The IRS is a sensible way of taking what
the island is very good atÐ providing high- end resorts for couples and familiesÐ and selling foreigners properties they can rent out when they' re not there themselves. The first of these projects, Tamarina, launched in 2004, and sold extremely fast. Progress
of the developments has been deliberately unhurried, and now the dust has cleared a few years after the initial rush, there is a handful of classy and established schemes up and running. ` The government took a long look at some badly overdeveloped resorts in other countries and decided that it was crucial to pick the right projects for foreign investors,' says Robert Green, direc- tor of Cluttons Resorts, which are market- ing Villas Valriche, one of the most popular and established of the schemes. The government is also insisting that
foreign buyers commit a healthy level of investment. Under the IRS, foreigners can only purchase properties for more than US$500,000, plus a registration duty of US$70,000; notary fees are 0.5%. Owners, and their families then automatically qualify for residency, which also allows them to take advantage of the beneficial tax laws, including no inheritance tax, no capital gains tax and a 15% flat rate on income. ` The market didn' t hit a brick wall as it
FOR SALE $1.45m
Tamarina Golf Estate/Akasha Tamarina Golf Estate and Beach Club to the west is a well-established development (
www.pamgolding.co.za/tamarina). It sold out three years
ago, but resales do come to the market. The newly launched second phase is Akasha: 60 luxury villas on 60.5 acres. (Savills 020± 7016 3740;
www.akashavillas.com)
76 Country Life International, Spring 2011
did in some of the more overpriced areas of the Caribbean because asking prices were a bit more realistic to start with,' believes Mr Green. However, things did eventually slow, particularly in terms of UK interest, because of the relative position of the pound. But now buyers from all over the world are returning to invest in these very high-end, low-maintenance Indian Ocean properties. The north of the island is the most developed stretch and holiday resorts pepper the coastline. The best high-end IRS schemes are evenly distributed around Mauritius, with the Club Med villas and Tamarina/Akasha to the west, Anahita to the east and Villas Valriche to the south.
www.countrylife.co.uk/international
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