A six bedroom house located on an island in Mauritius has been sold off plan for a staggering R253 million, which is a record price for the South African property group Pam Golding.
The house is still under construction and should be finished by mid 2024.
The home is situated in a beachfront villa in the One&Only Private Homes Le Saint Géran resort development in Mauritius.
According to retail group, the sale is the highest price ever achieved for a residential property sold on the island and has been acquired by a foreign buyer.
“The home marks the highest value property sale in Mauritius since the inception in 2003 of Real Estate schemes designed for foreign buyers,” Pam Golding noted.
The house is one of only six houses that is directly on the beach and has its own private peninsula on the east coast and is integrated within the One&Only resort.
All six homes within this development achieved prices over R186 million and are also expected to be completed in the middle half of 2024.
Within this development, 43 properties have been sold off-plan and a handful of four and five-bedroom homes still available for purchase.
According to Pam Golding, the homes that are still available are going for around R80 million to R141 million.
Wold Bank says Mauritius is business-friendly
Mauritius was ranked by the World Bank as one of the 20 most business-friendly countries in the world in 2023.
The nation is also leading as an African destination for high net-worth individuals, according to the 2023 Africa Wealth Report.
The report said that Mauritius is set to experience the highest wealth growth rate (75 percent) of any African country over the next decade; this will make it the fourth fastest-growing high-income market in the world, after Vietnam, India, and New Zealand.
And the reasons are not hard to find, says Philippe de Beer, chief executive of Mauritian real estate agency Park Lane Properties.
The country has a long history of stability and was also recently rated by New World Wealth as one of the three safest countries in the African region, along with Namibia and Botswana. This, he says, has become an increasingly important consideration for HNWIs since the outbreak of war in Ukraine and mounting instability in various other parts of the world.
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