South Africans make up 25% of the foreign property market in Mauritius

 ·6 Jul 2019

With the promise of Mauritian residency for individuals and their families, the maximum income and corporate tax rate at 15%, low mortgage rates, a safe lifestyle, and US Dollar-based capital appreciation and rental income; it is no surprise that South Africans make up 25% of the foreign property investor market in Mauritius.

Based on the demand for freestanding villas in Mauritius, St Antoine Private Residence has released freestanding, 3- and 4-bedroom villas to the South African investor market.

Investing in St Antoine Private Residence opens offshore investors to gaining Mauritius residency, tax free dividends, maximum 15% income and corporate tax, no capital gains tax, low mortgage rates, as well as US dollar-based capital appreciation and rental income, said Norbert Koenig, director of Red4 and co-developer of St Antoine Private Residence.

Situated north of Mauritius, only 10-minutes from Grand Baie, St Antoine Private Residence features 100 luxury 2 and 3-bedroom apartments and exquisite 3 and 4-bedroom penthouses.

“It has been reported that Mauritius is home to 4,600 High Net Worth Individuals (HNWI). In a recent report from New World Wealth, High Net Worth Individuals from South Africa hold 17% of their wealth in offshore investments.

“These offshore investments are situated in ideal locations and according to AfriAsia Bank’s CEO, Sanjiv Bhasin, ‘Mauritius has all the right elements to be a world-class destination.’

“Mauritius provides safety, security, economic stability, strong property ownership rights, ease of doing business, luxury leisurely lifestyles and activities as well as prominent schools of international standards. Furthermore, it is investment opportunities like St Antoine Private Residence that HNWI’s are looking for,” said Koenig.

Read: Why South Africans are moving to Mauritius – and how much it costs

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