Thursday, February 26, 2009

Villas Valriche, Mauritius weathers the global property storm

Source [24/02/2009]

Despite the gloomy news emanating from many international property markets, there are always exceptions. Mauritius is one example, where at luxury residential golf estate Villas Valriche over 90% of the 132 villas properties in Phase 1 have been sold and early buyers there are already enjoying substantial capital growth.

The recent limited launch of the first part of Phase 2 has also been received with enthusiasm by buyers. These properties, which include a selection of outstanding plots with stunning 360 degree views across the golf course to the azure ocean and with mountains behind, are expected to sell equally well. Not surprising perhaps, as recent research confirms that Villas Valriche represents outstanding value when compared to other luxury developments on the island, offering among the lowest price per square metre for truly premium build quality and design.

One of the world’s most desirable locations, Mauritius also offers significant attractions for overseas purchasers: The estate is one of the Mauritian Government’s Integrated Resorts Schemes (IRS), which provides automatic residency to foreign freehold property owners and their dependants, bringing substantial fiscal benefits including low income tax, no capital gains tax and no inheritance tax.

Villas Valriche is situated on the south west coast of Mauritius in the Savanne region, an unspoilt part of the island just 40 minutes from the airport. The development forms part of the Domaine de Bel Ombre, a former sugar estate with a number of luxury international hotels nearby. When complete, there will be 288 Mauritian plantation-style villas set in 525 acres of lush, tropical landscaped grounds on a rolling hillside overlooking the Indian Ocean. The estate lies at the foot of the Valriche Nature Reserve and is set around the existing 18-hole championship Golf du Chateau course, with a separate 9-hole par 3 course. A second 18-hole championship golf course is already planned next door.

There are four villa designs to choose from with a choice of 2, 3 and 4 bedrooms, each with an infinity pool, large verandas, air-conditioned bedrooms and state-of-the-art communications. A wide range of options and interior design packages is available, enabling owners to create a bespoke look and feel to every home. Indeed no other development on the island offers buyers as much choice and flexibility and nearly all of the villas have spectacular, panoramic sea views.

Mauritius has a stable economy, an ideal year round climate and frequent flights. One of earth’s true paradises, it is also known to be one of the safest tourist destinations in the world.

This award winning residential golf estate is being created by international developers Secondlifestyle Group in partnership with Rogers Group, the majority shareholder of the estate.

A top haven for tourists due to the exceptional range of lifestyle benefits and security, Mauritius tops several polls for both business and quality of life. An abundance of new facilities is springing up all over the island, from sophisticated shopping malls, restaurants, offices and factories to private schools and state-of-the-art medical centres (including cosmetic surgery for tourists). All of these, together with numerous sport, culture and leisure activities, can now be enjoyed by expat residents year-round under the IRS scheme.

The estate facilities at Villas Valriche are first-class. Owners automatically qualify to become members of the Golf du Chateau club with its attractive clubhouse and restaurant, as well as the Sports & Racquets Centre, the residents’ Beach Club and the luxury spa. A professionally managed rental pool will be operated, providing attractive revenue income to villa owners, and as hotel occupancy rates on the island are between 59 – 86% all year round, buyers can feel confident about the ability to attract a good rental income from their investment.

Prices start at $950,000 for a detached freehold villa with infinity pool and private landscaped garden.