The Mauritius office of Pam Golding Properties has sold a six-bedroom, luxury beachfront villa in exclusive One&Only Private Homes Le Saint Géran resort development for USD13.6 million – the highest price ever achieved for a residential property sold on the island. The property has been acquired by a foreign buyer.
The purchasers are a young high net worth family from Europe who are permanently relocating to Mauritius to realise their dream of an idyllic lifestyle situated right on the beach. The branded residence hotel development combines luxury residential living with access to all the hotel services to complete the luxury island lifestyle.
Currently under construction and designed by Macbeth and SAOTA Architects, this is one of only six exclusive homes directly on the beach within the 52-unit Private Homes development, perfectly positioned on its own private peninsula on the east coast and integrated within the One&Only Le Saint Géran resort. The six homes, which achieved prices over USD10 million, are expected to be completed in the second half of this year (2024). To date, 43 properties have been sold off-plan in this development with handful of four and five-bedroom homes still available for purchase, priced between USD4.33 million and USD7.6 million.
This USD13.6 million luxury home marks the highest value property sale in Mauritius since the inception in 2003 of Real Estate schemes designed for foreign buyers. Notably, the availability of freehold beachfront land for foreigners is exceedingly rare, making these homes highly sought after.
Says Jonathan Tagg, director of Pam Golding Mauritius: “This spectacular beachfront villa offers the grandest of island living with six bedrooms en suite, a plot size of around 2 973 sqm (32 000 sq ft) and a built-up area of around 758.3 sqm (8 162 sq ft).
“With sumptuous space, an unrivalled location and every conceivable amenity, the unique home features a large private swimming pool overlooking the special east coast. The villa is positioned right on the beach with north-easterly views, ideal for capturing the sun throughout the day. Graced with a shaded terrace, generous secluded garden and ocean view, this property is arguably the jewel in the crown of Le Saint Géran Private Homes.”
Surge in demand among high-net worth buyers
Adds Tagg: “Mauritius is increasingly becoming a preferred permanent destination for high net-worth European families– a trend expected to continue as it attracts a growing expatriate population making Mauritius home.
“Consequently, we are currently experiencing a surge in demand for luxury properties in an exclusive setting such as this. High net worth residential property purchasers in the upper price bracket emanate from mainly European countries such as France (the cities of Lyon, Nice and Montpellier), Monaco, Germany, Switzerland, the UK and more recently, New Caledonia. Some are relocating here, especially retirees, while others are looking for a holiday home to escape the winter back home.
“Indicative of the high desirability of the secure, tropical island lifestyle on Mauritius, with its tax-friendly economy, good schools and comprehensive array of amenities, prices of luxury homes in Mauritius have now escalated to over USD10 million when previously, the luxury market was in the region of USD5 million. While most purchasers over USD5 million are cash buyers, finance is available on the island with interest rates presently from 5% and positively, on a downward trend.”
Operating in Mauritius since 2001, Pam Golding Properties has continuously showcased its expertise in delivering exceptional properties to discerning clients.
Says Dr Andrew Golding, chief executive of the Pam Golding Property group: “Achieving this record price for the island underscores our commitment to service excellence as the leading authority in Mauritius’ luxury real estate market. We are proud to be part of this historic transaction which sets a new benchmark for luxury real estate in Mauritius.” The sale was concluded by Pam Golding Properties Mauritius real estate agent Mridula Sembhoo, one of Pam Golding Properties’ “Emerald Circle” agents who represent the top 1% of the company’s 2000-strong agent force.
Developed by Kerzner International, One&Only Private Homes Le Saint Géran represents a pinnacle of opulence and exclusivity, comprising private homes on freehold land adjacent to the world-renowned One&Only Le Saint Géran resort, offering unparalleled access to world-class amenities including gourmet dining, state-of-the-art fitness facilities and indulgent spa experiences. For convenience, residents have access to the 5-Star hotel’s helipad, with the airport a mere 15-minute flight away.
With a longstanding reputation for developing distinctive resorts globally, as part of Kerzner International’s strategy to expand One&Only brands worldwide, they are currently involved in several international projects. These projects include the development of over 460 One&Only Private Homes across various destinations in the next five years – the Mauritius project being the forerunner – all intricately connected to renowned ultra-luxury resorts. Apart from Mauritius, their residential portfolio currently encompasses properties in Dubai, Greece, Mexico, Montenegro, and Montana in the United States.
Adds Dr Golding: “Worldwide, there is a growing trend among high net worth investors towards a unique and appealing proposition – owning a luxury home within a highly reputable and prestigious, branded residence. Apart from the status and exceptional lifestyle appeal, with a host of services and amenities at hand, there are also optional rental programmes generating rental income when they are not occupying the property. Branded residences carry the prestige associated with iconic, well-established brands.”
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