EXPANDING THE RE/MAX FOOTPRINT
RE/MAX of Southern Africa expanded its regional footprint on 15 May 2018, when it opened its first office in Mauritius: RE/MAX 24. The global real estate brand now operates in five regions in Southern Africa, including South Africa, Botswana, Namibia, Swaziland, and the newly added island region of Mauritius.
Broker/Owner, Errol Areington, first noticed a gap in the local real estate market when he travelled to the island in June last year. “I saw an opportunity that I could not pass up. Since the island nation’s sugar trade diminished, the market has shifted into property. According to the Mauritian government, the property market will grow by around 40% in the next ten years,” Areington explains.
With over 33 years’ experience in the real estate industry, Areington was able to recognise a good opportunity when he saw one. He began chatting to the owners of local developments and consequently secured contracts to market eight different developments in the area.
“The sale prices of these properties range from R3.2 million to R62 million and include everything from apartments to high-end homes all located within resorts,” he explains.
These resort homes present the perfect investment opportunity for South Africans who are hoping to purchase holiday homes, or are considering taking the plunge and immigrating. “Our main market will be South Africans, but people from all nations are aware of the allure of this tropical island – particularly French-speaking nations, as Mauritius is predominantly an English- and French-speaking nation,” Areington elaborates.
Part of the allure of this island is its Integrated Resort Scheme policy which allows foreigner investors the opportunity to gain permanent residency status simply by purchasing property for a minimum of US $500,000.
“The Mauritian property market is an investor’s dream right now. If it were ever on your bucket list to own property on a tropical island, now is the time to turn that dream into a reality,” concludes Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett.