A new project in Mauritius has broken sales records to become the fastest-selling international development in the country.
The Azuri development has sold 70 per cent of its units since September last year, when it was launched near the country's capital city Port Louis. Half of those units went to French buyers, the developer revealed this week, with South African investors also accounting for 31 per cent of the sales.
"Mauritius has long been a popular destination for the French due to its colonial history," Murray Adair, Chief Executive of IOREC, told OPP : "French, Creole and English are the main languages spoken and there are regular direct flights available with a number of airlines including Air Mauritius and Air France."
"The sales success at Azuri is due to the excellent investment benefits, automatic residency and guaranteed rental yields available. Families will get a placement at the countries first and only international school, which will be managed by Wellington College," he added.
OPP notes that Integrated Resort Scheme also has lower costs than most real estate on the island, clocking in at US$825,000 compared to the average Mauritius property price of US$1.6 million.
The IRS scheme allows foreign investors and their family to become Mauritian residents after buying property on the island.
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