Mauritian development auction offers investors residency

The Nest – a newly proposed residential development in Pereybere, Grand Baie, Mauritius – will be auctioning of its one block on the 28th of July 2021.

The development will be split into three blocks A, B, C – each with four apartments (two ground units and two first floor units) and a single penthouse totalling twelve apartments and three exclusive penthouses.

Buyers are free to purchase a single unit or entire block and by investing in The Nest of MUR 15 400 000 (approx. R5 300 000), purchasers will receive Mauritian residency.

The Nest is a unique project on a 6 730m2 erf, surrounded by a lush green garden. In addition to the apartments, it has an overflow swimming pool, a braai / BBQ area, pentague course, bio garden, two secure parking bays per unit, and 24-hour manned security and CCTV cameras.

It is within walking distance to one of the most beautiful beaches on the island and it can be found in the vicinity of Grand Baie, well known for its restaurants, lively atmosphere, sandy beaches, and marine life.

Some advantages to living in Mauritius include a year-round tropical climate; safe living; a good healthcare system; a high quality of life intertwined with various cultures and a wide range of modern facilities and amenities that are available at reasonable costs. These include quality accommodation, excellent educational facilities, healthcare and medical facilities, shopping centres, and recreational and sporting facilities.

In addition, the Mauritian Rupee (MUR) is convertible at rates of between 2.9 and 2.5 to the Rand, offering businesses and individuals low corporate and personal taxes.

Mauritius has a diversified economy. Indeed, I may say that Mauritius offers excellent business opportunities in the following industry clusters: finance, manufacturing, information and communication technology, logistic and supply chain management, pharmaceutical, biotechnology, professional services to name a few” comments Tanya Jovanovski, Franchisee of Rawson Auctions Western Cape.

The units will be going on auction on the 28th of July 2021 at 12:00pm. However, bidding will be done via Rawson Property Group’s new system, which now has alternative bidding options in keeping with the best and safe practice.

The reserve price for the units will be as follows: MUR 14,861,500 (~R5,100,000 at the time of writing) for the ground floor units; MUR 14,302,900 (~R4,900,000 at the time of writing) for the apartments on the first floor; and MUR 22,775,000 (~R7,800,000 at the time of writing) for the penthouse apartments. However, all offers will be reviewed.

You can either bid via the phone by calling the Rawson Auction office on 079 980 3457; bid via email by emailing tanya.auctions@rawson.co.za; or bid online (for selected properties).

If online bidding is an option, Rawson Auctions will send bidders a Zoom invite, however, they first need to register and submit FICA documentation.

Notes for bidders:

  • Levies for The Nest are approximately MUR 17 000 (approximately R6 000) per month per unit with water included. Electricity is paid separately by the purchaser.
  • There will not be a registration fee to bid in terms of bidding, but the highest bidder will be required to submit a letter of intent. The notary will then draft a purchase of sale agreement and call for a 10% deposit.
  • A commission of 10%, over and above the bid amount, will be payable by the buyer.
  • A request to purchase a property as a foreigner will be sent to the Economic Development Board (EDB). As soon as the Letter of Approval is issued by the EDB, the title deed can be signed by the notary.
  • The seller is not registered for VAT and all buying will be off plan.

Source: Propertywheel.co.za | https://propertywheel.co.za/2021/07/mauritian-development-auction-offers-investors-residency/

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.