A luxury lifestyle that makes economic sense

Mauritius certainly is no longer just a holiday destination, but has a definite rewarding investment opportunity for South Africa’s businessmen and women.

April 22, 2014

If you’re thinking of migrating to the coast or buying a holiday home at Plettenberg or Camps Bay, think again. For the same money as you’d spend on a modest pad by a chilly sea, you can buy a luxurious apartment, duplex or villa at La Balise Marina in Mauritius with its own private mooring at the end of your garden.

Set in the picturesque Black River district, La Marina Balise sits between a gorgeous backdrop of mountains and warm, turquoise lagoons and Ocean. The trendy town of Black River has every modern amenity, but retains its laid-back charm.

Mauritius is only a four-hour flight away, but it’s a different world completely. It’s almost crime free, boasts year-round sunshine, has excellent schools and medical facilities, a strong and stable economy and a tax rate of 15% for individuals and businesses; making it not only ideal for a holiday, but the perfect place to base your business and your family. La Balise Marina falls under the Integrated Resorts Scheme (IRS), a government initiative to attract high net worth individuals by granting permanent residency to buyers who spend more than $500,000.

Phase 1 is sold out with all units delivered to their owners and marina infrastructure operational and Phase 2 was launched in March 2014. As Phase 2 is also the last phase of the development, the opportunity to secure a stake in this luxury lifestyle resort is fast becoming limited. Once it’s complete, La Balise Marina will feature 146 luxury units, with 70 apartments, 62 duplexes and 14 villas with a choice of two to five bedrooms. Interior designers on-site can advise you on the décor and furnish everything to your specifications. Cleaning services and fibre-optic internet access are also part of the package. With prices starting at US$700k for an apartment and US$2.6m for a villa (all taxes and fees included), which includes the investor’s right to Mauritian residency for the family (dependents) as long as he owns his property.

With stunning views on the sea and the marina, “Le Sunset” clubhouse features a bar, restaurant, gym, spa, a kids club and an infinity pool, while “L’Estuaire” a small commercial centre is being built with shops and another restaurant. “L’Estuaire” will also be home to the region’s main nautical service providers, offering scuba diving, deep sea fishing, Catamaran cruises and other exciting activities to mention a few.

It’s a sound investment, as La Marina Balise is the only high-end Marina resort on the island with direct water access and fully established marina amenities, creating a unique investment opportunity. Apartments bought for $600,000 three years ago have already been resold for $800,000. Owners not living permanently in the marina will also be able to put their units into a managed rental pool when they are not using them, generating a regular income.

“Mauritius boasts a solid economy, a stable, democratic government and a remarkably low crime rate. With an attractive 15% tax rate, Mauritius is undeniably attractive for anyone who wants a safe and luxurious lifestyle,” says Rob Hudson, MD of South African property development and sales company Hayes, Matkovich & Associates, the marketing company for La Balise Marina.

The project is being developed by a consortium including Investec Bank Mauritius and ENL Group, one of the largest property companies in Mauritius. ENL Group, also being the promoter of projects like Villas Valriche and Bagatelle Mall, the latter being the largest retail centre in Mauritius in which ENL partnered with the SA based Atterbury Group.

The amenities in Mauritius are improving continually thanks to the buoyant economy and forward-thinking government. With first-class health and education facilities, a 92% rate of employment and a vibrant social scene, Mauritius is ideal for a second home or a first-rate lifestyle.