Structured on the Mauritius Board of Investment's approved Real Estate Scheme (RES), the investment allows the purchase of a freehold title to a luxury apartment in Emerald Heights inclusive of furniture package, taxes, registration duty, notaire and agency fees.Lynn Petzer, CEO of Lynn Estates, says the development offers one-bedroom apartments to boutique five-bedroom villas. The prices range from 275k Euros for a one-bedroom apartment, to 455k Euros for the three-bedroom apartments, to 995k Euros for three- to four-bedroom villas (432sq m). The top-of-the-range five bedroom villas boast price tags of 1,320k Euros.
"South African tax residents will be liable to pay tax from income received on rentals or capital gains from the sale of the property, but South Africa has a double tax agreement with Mauritius which prevents the double taxation of this income," says Francois Merchand, sales and project manager at Erna Lowe Property.
"We have spoken to numerous Mauritian banks that will negotiate a percentage of the home loans at a discount to the interest rates on offer in South Africa. Home loan rates can be negotiated on a case-by-case basis depending on the individual's financial position," says Stephen Aldridge, CEO of Mordaunt Estates.
Aldridge says 75% home loans are very rare because banks are cautious in the current economic conditions and that 50% loans are likely to be approved.
Situated on the edge of the Black River Gorge's Natural Park, the first of eight phases includes over 30 one, two and three bedroom apartments with shared pools; and two, three, four and five bedroom detached villas with private gardens. These properties feature hardwood flooring, open plan living accommodation, architectural features such as the octagonal entrance atrium and staircase in villa properties, Villeroy & Boch bathroom suites, modern-fitted kitchens with island units, air conditioning, satellite TV, broadband connection and 24-hour security.
Owners of properties at Emerald Heights have unlimited access to the five-star facilities of the private Emerald Lagoon Beach Club. The Club offers fine dining, sports lounges, a near-Olympic size beachside infinity pool and Gems Ayurvedic Spa.
Ownership also qualifies for membership of the Mauritius Gymkhana Club, an 18-hole international course, while the 18-hole par 72 championship course at Chateau du Golf at Bel Ombre is 12km away by shuttle.
The Emerald Heights' optional 24-hour concierge service provides a range of facilities including global marketing, inventory, rental and accounting services for owners who wish to let their homes in their absence, as well as private catering services, transfers and shuttles, secretarial and business support, leisure excursions and reservations.
Construction of Emerald Heights has commenced with completion of first phase properties expected by mid-2010. Site visits are now welcome. - Eugene Brink
For more information phone 020 7590 1624 or send an email. Click here to visit the website.
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