The Mauritius office of Pam Golding Properties has sold a luxurious six-bedroom beachfront villa in the exclusive One&Only Private Homes Le Saint Géran resort for USD 13.6 million – the highest price ever achieved for a residential property sold on the island. The property was acquired by a foreign buyer.
The buyers are a young, wealthy European family settling permanently in Mauritius to fulfill their dream of an idyllic beachfront lifestyle. The branded resort project combines luxury residential living with access to all hotel services to complete the luxurious island lifestyle.
Currently under construction and designed by Macbeth and SAOTA Architects, this is one of six exclusive beachfront homes within the 52-unit Private Homes development, perfectly positioned on its own private peninsula on the east coast and integrated into the One&Only Le Saint Géran complex. All six homes, priced in excess of $10 million, are expected to be completed in the second half of this year (2024). To date, 43 properties have been sold off-plan within the development, with a handful of four- and five-bedroom homes still available for purchase, priced between $4.33 million and $7.6 million.
This luxury home, valued at $13.6 million, is the largest property sale in Mauritius since the introduction of real estate programs for foreign buyers in 2003. Notably, the availability of freehold beachfront land for foreigners is extremely rare, making these homes highly sought-after.
Jonathan Tagg, Director of Pam Golding Mauritius, explains: “This spectacular beachfront villa offers grand island living with six en-suite bedrooms, a plot of approximately 2,973 m² and a built-up area of approximately 758.3 m².
With sumptuous space, an unparalleled location, and every imaginable amenity, this unique home features a large private pool overlooking the east coast. The villa is located directly on the beach with a northeasterly view, ideal for soaking up the sun all day long. Featuring a shaded terrace, a generous secluded garden, and ocean views, this property is undoubtedly the crown jewel of Le Saint Géran’s private residences.
Increased demand from wealthy buyers
Tagg adds:
Mauritius is increasingly becoming a preferred permanent destination for wealthy European families – a trend that is expected to continue as it attracts a growing population of expatriates who make Mauritius their home.
As a result, we are currently witnessing a surge in demand for luxury properties in an exclusive setting such as this. Buyers of high-end residential properties mainly come from European countries such as France (the cities of Lyon, Nice, and Montpellier), Monaco, Germany, Switzerland, the United Kingdom, and, more recently, New Caledonia. Some are settling here, particularly retirees, while others are looking for a vacation home to escape the winter in their own countries.
Luxury home prices in Mauritius have soared to over $10 million, whereas previously the luxury market hovered around $5 million. While most buyers above $5 million are cash buyers, financing is available on the island, with interest rates currently at 5% and, positively, trending downward.
Present in Mauritius since 2001, Pam Golding Properties has continually demonstrated its expertise by offering exceptional properties to demanding clients.
Andrew Golding, Group Managing Director of Pam Golding Properties: “Achieving this record price for the island underlines our commitment to providing excellent service as a leader in the luxury real estate market in Mauritius. We are proud to be part of this historic transaction which sets a new benchmark for luxury real estate in Mauritius.” The sale was concluded by Pam Golding Properties Mauritius real estate agent Mridula Sembhoo, one of Pam Golding Properties’ “Emerald Circle” agents, representing the top 1% of the company’s 2,000 agents.
Developed by Kerzner International, One & Only Private Homes Le Saint Géran represents the pinnacle of opulence and exclusivity. These private residences are located on freehold land adjacent to the renowned One&Only Le Saint Géran resort, offering unparalleled access to world-class amenities, including gourmet restaurants, state-of-the-art fitness facilities, and indulgent spa experiences. For added convenience, residents have access to the 5-star hotel’s helipad, with the airport just a 15-minute flight away.
As part of its strategy to expand the One&Only brands worldwide, Kerzner International, which has a long-standing reputation for developing quality resorts, is currently involved in several international projects. These projects include the development of more than 460 One&Only private homes in various destinations over the next five years—the Mauritius project being the precursor—all intricately connected to renowned ultra-luxury resorts. In addition to Mauritius, One&Only’s residential portfolio currently includes properties in Dubai, Greece, Mexico, Montenegro, and Montana, USA.
Dr. Golding adds, “Around the world, high-net-worth investors are increasingly interested in a unique and attractive proposition: owning a luxury home in a highly regarded and prestigious branded residence. In addition to the status and appeal of an exceptional lifestyle, with a host of services and amenities at their fingertips, there are also optional rental programs that generate rental income when they are not occupying the property. Branded residences convey the prestige associated with iconic and well-established brands.”
For more information, please contact projects@pamgolding.mu, Jonathan Tagg on +230 5498 3842, or Mridula Sembhoo on +230 5728 8200.
Born in Mauritius, I have a Bachelor of Arts in Mass Communication. I have nearly 12 years’ experience in marketing, public relations and communications. Passionate about meeting people, creativity and business growth, I am results-oriented. My goal is to guide communication to touch the hearts and minds of customers. My motto is: “Treat others as I would like to be treated.”
