Price history: thriving property market in Seychelles

Blessed by nature, the Seychelles is an archipelago of 115 islands with superb beaches, an unspoiled landscape, virgin forest, amazing marine life, lots of orchids, bougainvilleas, hibiscuses, gardenias and frangipani, and a profusion of bird species found nowhere else. It is 1,600 km off the coast of East Africa, with a population of only 81,000.

The Seychelles is outside the cyclone belt so the weather is stable all year round, a humid equatorial climate with an average maximum daily temperature of 29 degrees. There’s no malaria or yellow fever. It has the highest human development index in Africa, with a per capita GDP of US$10,714.

Foreign property buyers in Seychelles mainly come from South Africa, Italy, France, Russia and the UK. Seychelles culture is largely French-influenced, and the population is highly racially mixed. Tourism employs 30% of the labour force, and powers the economy. Independent from Britain in 1976, Seychelles became a one-party state (1979-1991) under president France Albert René, who continued to dominate politics after 5-yearly elections were introduced till 2004, when he stepped down in favour of president James Michel.

Source: Global Property Guide