Real Estate News - Paradise found!

A growing number of South Africans are buying holiday homes overseas for investment purposes.

This was evident earlier this year when the first phase of Anahita, a Mauritian residential resort, was sold out within six hours of 70 units going on sale. South Africans comprised 35 percent of the buyers.

The global luxury hotel chain, Four Seasons Hotels and Resorts, a group famous for its high standards of hospitality, will be coming to Mauritius for the first time, courtesy of Anahita.

The hotel is due to open at the end of 2007 in time for the festive season, while the adjoining private residences, due for occupation in early 2008, is the second phase of the Anahita development and goes on sale at the end of the year. The 39 private residences, varying in size, will be priced from about R13-million.

There is a rental pool for the two- to three-bedroomed residences, so owners can stay on the property for around 28 days a year.

The properties are let out to holidaymakers on a 50:50 sharing of rental income between the owners and the hotel group for the rest of the period. Owners of the 10 larger residences, with either four or six bedrooms, will have flexible rental options.

The Four Seasons will offer owners of the private residences and hotel guests many amenities and a 24-hour service. Apart from a spa, there will be restaurants, gyms, tennis courts and pools.

There will also be an Ernie Els 18-hole championship golf course, water skiing and sailing. Every imaginable facility will be available including tennis, fishing, a cooking school, fitness facilities, family travel and exclusive dining.

Raju Jaddoo, the managing director of the Mauritius Board of Investment, said buying a house in Mauritius was buying an experience. "Anahita [is] a flagship development in size and ambition. It will diversify the economy and allow owners to mix business with pleasure."

  • This article was originally published on page 16 of The Star on November 11, 2006

Article by: Peter Feldman - www.iol.co.za