INTERNATIONAL
‘ Erika and I have been extremely successful because we don ’ t push any particular development . We listen to our clients and then try to find what they are looking for . Naturally , we take them around and show them what ’ s on offer . There are innumerable options , many of these looking fantastic to newcomers . But that is often not the case .’
Jan says this should not deter those interested in building their property portfolio in Mauritius while not permanent residents . ‘ And yes , apartments or homes of absent owners can be rented out for holiday stays , as most estate agencies have a rental portfolio .’
Only for the old ?
He says Mauritian legislation makes it easy for people to buy property on the island , with a government that actively invites foreign investment .
Different permits for different pockets
‘ With the average South African buyer , budgets always dictate . But there is something for everyone ,’ says Jan . ‘ If you can ’ t afford to buy your residency , you can apply for an occupation permit , an investor ’ s permit , or even a retiree permit . Those all give you the right to live on the island , with different criteria dictating each permit .’
According to Mauritian law , there is a minimum price tag of MUR6 million ( R2.12 million ), and for vacant land a minimum of MUR3 million ( R1.06 million ). Erika adds that transactions are most generally done in euros or US dollars , which is an attractive alternative for many investors .
When not an islander …
The Afrikaans saying ‘ ver van jou goed , naby jou skade ’ refers to losses incurred when not geographically close to your possessions . It ’ s one thing to rent out an investment property in another town or province , but is it sensible to buy an apartment as far away as Mauritius ?
Looking at a profile of clients over the years , the Minnies provide some insight into the average potential Mauritian investor .
‘ In the past , our clients were mostly aged upwards of 50 , but now we have the whole spectrum knocking at our door : young families with little kids , middle-aged parents with university-going children , and older retired couples .’
Where do we begin ?
When it comes to the first step in climbing the Mauritius property portfolio ladder , it is interesting to learn that many South Africans follow the same modus operandi .
‘ A case in point is a two-bed , two-bathroom sectional title unit in a block full of South Africans . This particular property was the first of many IRS * developments aimed at foreigners .
‘ It has become a first stop for many new arrivals , because it ’ s a soft landing with plenty of people around to help you get things right in your new country .’
* The Integrated Resort Scheme ( IRS ) is an initiative of the Mauritian Government in collaboration with the Board of Investment of Mauritius , designed to facilitate the acquisition of resort and residential property by non-citizens .
61 E M I G R A T I O N
Esther de Villiers