Penthouse living in Mauritius
Are Mauritian penthouses a good investment?6th Jul 2022
Owning a beautiful penthouse in Mauritius – sounds like a dream, right? It doesn’t have to stop there. Here we look at the latest penthouses on offer and what they cost.
We also ask how easy they are to finance and find out from experts whether they are a good investment for a property portfolio.
Penthouse living in Mauritius
There are plenty of properties on offer right now in Mauritius. This includes penthouses in Tamarin, Mon Choisy, and Pointe D’esny.
Or perhaps you’d prefer to live on the other side of the idyllic island in a four-bedroom penthouse in Pointe D’esny. The apartment is fully furnished, with four en-suite bathrooms, two balconies, a common pool, and sun loungers on the beach – the list goes on.
Pam Golding Properties, meanwhile, also have numerous penthouses on offer, including a five-bedroom property in the West Island Resort. Priced at R46,974,522, this penthouse boasts a private pool and security, but also provides the purchaser and their family the chance to reside full-time in Mauritius.
If you find the blissful town of Tamarin attractive, it currently has a four-bedroom penthouse apartment for sale for R30,113,192. This estate, in its tranquil location, also offers full time residency for the buyer and their family.
Is the price right?
Penthouses in Mauritius can vary in price. According to listings on Seeff’s website, prices can range from R7,500,000 to R70,160,000 depending on location, size, and other amenities on offer.
Beachfront penthouses or apartments with magnificent scenery are more likely to fetch higher in price, as well as those offering private pools and security.
The Mon Choisy property is priced at R13,960,314, whereas the Pointe D’esny penthouse is slightly more expensive at R19,687,622. However, looking at what an apartment can offer and if it suits your lifestyle is key to getting the best deal.
A faff to finance?
Penthouses are easier to finance than you may think. Most banks and credit institutions offer mortgage loans to foreign nationals and Mauritian citizens to help them pay for real estate in the country.
Whilst criteria for a mortgage loan varies depending on bank, country, and individual, Mauritius has a very developed financial system. As with mortgage applications in South Africa, you’d need to provide proof of your salary (but in Mauritian Rupees), alongside a full and accurate record of how you plan to repay the loan. If you can do so, getting a loan should be relatively straightforward.
Always speak to a professional prior to financing real estate to secure the best deal for you.
The perfect portfolio investment?
Many question whether penthouses are a good investment for a property portfolio, but the experts suggest they are in fact the perfect addition.
Richard Haller, director of Pam Golding Properties, said: “Penthouses have a luxury association with them and are always a strong addition to a property portfolio.
“The upside of penthouses is that their supply is much lower than normal apartment supply, and therefore can command a premium price when reselling and renting.”
Henro Goosen, lead interior designer of Cape Town’s The Rockefeller, suggests choosing penthouses that are “situated in a glamorous location in the city, with the working harbour to one side, and dramatic natural mountain views to the other.
“You are only seconds from city life but still feel surrounded by nature – the main Rockefeller penthouse exudes luxury, convenience, and quality”.
Essentially, those with penthouses hold special sway, luring the rich and the famous.