Mauritius Beachfront Villa Sold for Record-Breaking Rs 627.6 Million

The sale of a luxury villa at the One&Only Private Homes Le Saint Géran project in Poste-de-Flacq, Mauritius, has set a new record as the highest residential property sale price ever achieved on the island.

The six-bedroom beachfront villa was sold for USD 13.6 million, equivalent to Rs 627.6 million at the current exchange rate.

The transaction was handled by Pam Golding Properties, a South African real estate agency that specializes in luxury properties in Mauritius.

The buyers of the villa are a wealthy young family from Europe who have decided to permanently relocate to Mauritius to enjoy a beachfront lifestyle.

The One&Only Private Homes Le Saint Géran project consists of 52 private homes, designed by Macbeth and SAOTA Architects, offering services from the Le Saint Géran hotel.

The villa involved in this record sale is one of six exclusive beachfront homes, with the other five being sold for over USD 10 million (Rs460million) each.

The project is expected to be completed in the second half of this year, with 43 out of the 52 properties already sold off-plan.

Prices for the remaining homes range from USD 4.33 million to USD 7.6 million.

The high price tag of Rs 627.6 million for the record-setting villa can be attributed to the scarcity of beachfront properties available for sale in Mauritius.

According to Jonathan Tagg, the director of Pam Golding in Mauritius, there is currently a strong demand for luxury properties in exclusive settings like this one.

Buyers of high-end residential properties mainly come from European countries such as France, Monaco, Germany, Switzerland, the UK, and even New Caledonia.

Some are looking for a permanent residence, while others are seeking a holiday home to escape the winter in their home countries.

There are currently over 200 properties priced above Rs 100 million for sale in Mauritius, with regions such as the North coast, Tamarin, and the East coast being particularly popular.

Property prices in these areas have more than doubled in the past five years.

Source: Defi Media