Chas Everitt to open in Mauritius
|The Chas Everitt International property group is shortly
to open an office in Port Louis, capital of the idyllic Indian-Ocean island
of Mauritius, in conjunction with prominent local property sales and development
The joint venture has been established in response to increased demand from South Africans who want to buy holiday homes on Mauritius or relocate there permanently, says Chas Everitt Franchising CEO Barry Davies.
We saw the need to partner with a local operator and after much deliberation chose Davyland due to the companys solid track record and extensive experience in the Mauritian property market, as well as its similar ethic.
Davyland was established in 1993 and has built up a reputation for outstanding customer service. We also feel its important from our clients point of view to be able to deal with an agency thats really knowledgeable about the local market and can give them the inside track on worthwhile investments.
Davyland GM Kentish Moorghen says: We feel the time is right for a partnership with a South African property company as the majority of our overseas clients are South African. Additionally, Mauritius is experiencing a boom in the residential sector, with a large number of real estate projects currently under construction. This has highlighted the need for a more comprehensive framework which will better serve our clients.
Driving the residential demand in Mauritius is a stable inflation rate and the new legislation that facilitates foreign property purchases, the IRS (Integrated Resorts Scheme) and RES (Real Estate Scheme).
The IRS caters to the more affluent buyer while the RES is geared towards the more budget-conscious purchaser and Davyland is currently catering to both markets with a number of developments, Moorghen says.
Among these are the high quality West Rock development on the west coast, where properties are being sold for around 18m rupees or about R5m.
Meanwhile, demand for commercial space on the island is also on the increase, and a number of intelligent office buildings have already been built to better enable expatriates to maintain their business interests while living on the island.
Article from: www.chaseveritt.com