Growing demand for luxury apartments with hotel component & Mauritius Residency sees launch of La Pirogue Residences
A growing global demand to buy luxury residential units in prime leisure destinations with access to hotel facilities and a rental pool for income generation has seen the launch of 45 apartments connected to the renowned La Pirogue Hotel on the sought-after west coast in Mauritius. Permanent Residency is also a deal-clincher, according to Pam Golding Properties.
Brought to market by leading property developers 2Futures, Ciel Properties and Sun Resorts, one of the largest and most reputable hospitality groups on the island, the prime location and facilities offer the ideal live-work-play destination, says Richard Haller, director of Pam Golding Properties Mauritius, marketers of the apartments.
Says Haller: “Buyers to date are mainly Europeans, Mauritians and South Africans who are drawn by the Permanent Residency aspect and a beach-type, lifestyle offering with 60 days’ usage – with all the resort facilities at hand. The two and three-bedroom units are proving the most popular for South African buyers, while we have just sold two penthouses to a Mauritian investor.
“When a non-citizen invests a minimum of USD375 000 in a Property Development Scheme (PDS) such as La Pirogue Residences, they can live in Mauritius under a Permanent Residence permit for as long as they own the home, while their spouse, dependent parents and children younger than 24 years also qualify for the permit. With the latest changes in legislation, permanent residency permit holders no longer require an occupation permit to work on the island. They are free to look for gainful employment within the employment market as per a citizen of the island.
“Also positively, the latest change gazetted on the 27 July 2022 is that foreigners will be able to partner together to purchase one property and apply for more than one residency permit, provided each partner spends the required USD375 000 or more.”
La Pirogue Residences comprises two-bedroom/two-bathroom, three-bedroom/three-bathroom and four-bedroom/four-bathroom apartments within a single complex, at prices starting from USD725 000, USD925 000 and USD1.8 million respectively.
“With an estimated occupancy rate of 65%, owners have the potential to generate an average yield of 6.75% per annum,” adds Haller.
Named after the small traditional fishing boats, La Pirogue was one of the first resorts on the island, turning 45 last year (2021). Today it has six restaurants, eight bars and an authentic Hammam within its spa facilities, and a fully equipped fitness centre.
The design of La Pirogue Residences captures the authentic village atmosphere and heritage of the resort, creating a welcoming, warm and private space. Grouped into five bocks which merge into the landscape, natural materials feature in the timber hardwood structures and timber shingles to blend into the subtropical gardens, while the living areas are spacious and airy with high-quality finishes throughout. Passive solar design is a key element, while large sliding glazed panels are used wherever possible to enable residents to interact directly with the outdoors. The interior ambience is calm, uncluttered and restful.
Haller says that owners will also enjoy access to the facilities in Sugar Beach and La Pirogue resorts – the stretch of silky white sand in front of which won TripAdvisor’s Travellers’ Choice Award for 2021. The turquoise lagoon and distant mountains add to the picturesque setting. Only half an hour from Port Louis and 50 minutes from the international airport, there are top golf courses in the area, while Tamarin is a nearby well-known surfing spot. Not far from Flic en Flac, Black River Gorges, Chamarel ranges and Le Morne, there are plenty of activities within easy access such as walking, hiking, cycling and kitesurfing as well as shopping, educational and medical facilities and a business park.
Sugar Beach, Sun Resorts’ five-star luxury hotel, is set in over 12ha of landscaped tropical gardens, flanked by an unspoiled lagoon along a pristine coastline with postcard-perfect sunsets.
Says Haller: “Our sales activity in Mauritius in general has been very busy for the past six months as tourism has opened up, creating a boost for interest in residential property, particularly with permanent residency in mind. Many of our South African buyers are from a younger age group who are seeking residency, while historically, most of our buyers were approximately 55-75 years of age. Apartments such as La Pirogue Residences, which offer all the benefits and facilities of a hotel/resort complex are definitely increasingly popular.”
With a tropical climate and one of the wealthiest countries in Africa, Mauritius is a safe and dependable destination which enjoys an excellent international image due to its political and economic stability, secure legal framework, attractive tax regime and solid banking system.
For further information email mauritius@pamgolding.co.za or contact Richard Haller of Pam Golding Properties Mauritius on +27 83 776 0802 or +230 5422 38 42.
