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COVID-19: Heritage Villas Valriche homeowners join the Solidarity Drive

By Benedicte de Comarmond,

Being in confinement doesn’t mean that life must come to a standstill. The Heritage Villas Valriche homeowner community is demonstrating resourcefulness and solidarity towards each other as well as towards needy people in the region in the face of the current health crisis – in strict compliance with national health recommendations.

The people of the Heritage Villas Valriche estate in Bel Ombre have been showing their strong sense of community in recent weeks amid the national coronavirus lockdown in Mauritius.

The homeowners’ facilities management entity has been very active with a number of essential service personnel remaining on duty throughout the confinement period under the national work access permit conditions. Apart from the friendly security staff on duty 24/7, other emergency personnel have been active, ensuring 100% availability of essential services such as electricity, potable water, irrigation water and fibre-to-the-home internet. The landscaping provider, Agrïa has also managed to keep the vegetation under lockdown in this lush tropical environment.

The estate’s homeowners are contributing their share of the effort through mutual assistance and solidarity. Some of them have given neighbours the keys to their villas to keep an eye on their homes in order to ensure they are properly aired and cared for while they are away. At the same time, they have offered to help out with everyday products they have in stock, such as laundry and cleaning products as well as small appliances.

Shopping for groceries has become more of a challenge than normal in this lockdown period. Villa owners have therefore set up “grouped” deliveries to avoid service providers having to make multiple trips, making life easier for everyone. Donning masks and gloves, homeowners are only a short golf cart ride away from their order pick-up point, where they are kindly assisted by dedicated and friendly security staff.

In these times of crisis, everyone is helping out where they can. Some check with neighbours whether they need anything prior to a trip to the supermarket. The more active villa owners are volunteering assistance to the elderly or to those living on their own. They are also lending a hand with maintenance of the Heritage Golf Club course. The recently set up neighbourhood Facebook and WhatsApp groups are proving efficient tools to facilitate communication around the estate, whether to share good deals or to ask for help.

Although the sports centre has temporarily been closed to comply with lockdown and health measures, residents are able to breathe and enjoy nature since less than 15% of the estate area is and ever will be built-up – and with villas only – providing a wonderful sense of space. Adding the golf course area to the mix further enhances this sensation and makes social distancing an easy way of life.

The Heritage Villas Valriche community members are not only taking care of their immediate neighbours, but are also providing assistance to less fortunate people in nearby villages. In response to a call from the NGO, Caritas Ile Maurice and in coordination with the Rogers Vivacis initiatives, homeowners have contributed to and raised funds for the distribution of food supplies to 86 families at risk during this period of confinement.

In these tough times, it is vital for all of us to pull together to make a difference and these initiatives have reinforced the strong ambience of the “Heritage Villas Valriche Family”!

Read also: Mauritius takes a responsible approach towards COVID-19
CategoriesEditor's Picks Investment Real Estate

Land Investment – A Regional Analysis of Real Estate Value

By Rodney Napaul,

“Buy land – they’re not making it anymore!” is a well-known, often-cited quote from Mark Twain, and one regularly present in the real estate pitch palette. In Mauritius, with a land surface area of only 2,040 km², paired with a transgenerational culture of real-estate investing, land has been particularly of high priority in a typical investment portfolio.

This said, roughly a hundred years after Twain, Peter St. Onge (from Profits of Chaos) writes, “As counterintuitive as it may seem, we make land all the time. It just doesn’t look like land.” To be fair, St. Onge has had the benefits of a century’s worth of advancement in economics. Surely, as he rightly puts it, land’s value comes from its economic usefulness, and is affected by factors such as access, regulations, and neighborhood, and not just supply.

When it comes to residential property, these qualitative factors are clear determinants of value. Along this line of thinking, we decided to analyze certain property value indicators in three regions of the island where we have invested in real estate development – Moka, Black River, and Savanne (Bel Ombre).

Moka:

All official residential towns in Mauritius are in the district of Plaines Wilhems, which contains 40% of the national population – historically being a question of accessibility, topography, and climate. A quick satellite view is enough to see the concentration. However, a common tendency for urban areas is to get more congested with time, and as a result, more expensive. In the absence of maintenance and upgrade, they also depreciate in living-quality.

Moka district, bordering Plaines Wilhems along its North-East side, has for long been an interesting, if not ideal alternative – part of the Central Plateau, temperate climate, proximity. With the development of Moka Smart City, new access roads, the largest shopping mall in Mauritius, and the relocation of several businesses, the effect on property prices has been clear.

As per information extracted from the registrar, the total value transacted over the 3-financial-year (FY) period ending June 2016-2018 was Rs. 9.1 billion (~US$ 259 million), with a notable 24.1% increase in 2018 to Rs. 4.5 billion ($US 129.9 million) – Chart 1.

We also observed that the average value of transaction per unit in FY 2018 was Rs. 26.6 million ($US 759.9 thousand), a 19.1% increase from FY 2017, which in turn had a little more than doubled from the year before. In addition, a look at residential land rates is also revealing. The price per arpent (1 arpent = 4,221 m²) of residential land in Moka, as per last available data in 2019, was Rs. 29.7 million/arpent, an increase of 10% over the past 3 years.

To measure real estate development activity, we also had a look at the number projects undertaken over the past 3 years. This indicator gave us an average of 8 projects over this period, which in fact coincides with the principle behind the Moka Smart City – high planning for high quality living, integrating residential, business, and leisure spaces.

Black River:

This district is defined by scenic landscapes, mountains rising from the coastline, along which is traced the longest beach in Mauritius, beautiful lagoons, a mecca for nautical activities. Further down the seaboard to the extreme southwestern tip, stands a monolith at 556 m above sea level – Le Morne Brabant, a UNESCO World Heritage site, which also overlooks a legendary kite surfing spot. Also housed within Black River is a large part of the 6,574 hectares of forests making up the Black River Gorges National Park with its 60 km of trails. The main road A3 which converts to B9 and becomes a popular scenic route along the South coast, can be accessed at two points from the Center of the island. The region has also developed rapidly over the past recent years, now accommodating modern facilities, restaurants, bars, shopping centres, and essential services such as healthcare. However, it is reassuring to note that the rural cache has been mostly preserved.

The total value transacted over the 3-financial-year (FY) period ending June 2016-2018 in Black River was recorded at Rs. 29.3 billion (~US$ 836.5 million). The FY 2018 figure was Rs. 12.8 billion (~US$ 364.4 million), a 22.5% increase from the previous year – Chart 2.

Further information extracted revealed that the average value per transaction in Black River was Rs. 18.5 million (~US$ 527.4 thousand) in 2018. If this figure is lower than that recorded in Moka, we must also consider that total units transacted in 2018 in Black River were by far higher at 691 (as opposed to 171 in Moka). In development activity metrics, we recorded 146 projects in 2018 (up from 105 in 2017, and 35 in 2016).

Bel Ombre:

Making most of the Southern part of the island, the district of Savanne is renowned for being unspoilt – as the name goes, “Wild South”. It is the less populated district, making up 5.4% of the national population, but being the homestead of culture-rich villages such as Bel Ombre, Chemin Grenier, Surinam, and Souillac. It hosts the historical Bois Cheri Tea Factory which can be found along the tea route, the other half of the Black River Gorges National Park, and iconic littoral spots, namely Captain Matthew Flinders Monument, Riambel, and Gris-Gris.

Property activity here is very much a function of select taste – for culture, for nature, for golf, or all three. In other words, it is niche. For this reason, it has imparted with the ideal setting for luxury property development.

We have focused our study in the area of Bel Ombre, and we have found that the total value transacted over the 3-financial-year (FY) period ending June 2016-2018 was Rs. 2.1 billion (~US$ 58.7 million), a sharp increase of 85% over the previous year – Chart 3.

Even though we applied the same metrics as for the previous regions, we found that the interpretation of them could not be directly applied. For example, we observed lesser units having been sold in FY 2018 (88) when compared to FY 2017 (116) even though the total property value transacted significantly increased. There have also been only 2 projects undertaken in 2018, and equivalently in 2017. This can be explained by the high-end nature of property development in this region – quality over quantity.

Buying land in Mauritius is a smart investing, and it is even smarter to buy land in regions which have been well planned!

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CategoriesInvestment Real Estate

[VIDEO] Villas, duplex and apartments at La Balise Marina, Mauritius

Black River, Mauritius

Located on the island’s West coast in the trendy town of Black River, La Balise Marina sets out to be the quintessence for a genuine Mauritian island way of life.

Kissed by sun and sea with picturesque mountain views, La Balise Marina offers fully owned luxury villas, duplexes and high-end apartments overlooking the marina’s canals, quays or the Black River estuary.

With private mooring, these luxury residences enjoy direct access to the sea and surrounding crystal blue lagoons.

La Balise Marina laps up all the pleasures of an outdoor lifestyle and offers access to the resort’s sports centre, spa, shopping centre and restaurants.

Living areas range from 125 m² to 517 m² for apartments and duplexes. Villas comprise of a private garden on plots of up to 1,200 m².

Private mooring for vessels up to 12 metres long. Membership to Quintessentially Lifestyle and access to club house, sport centres & marina management services.

More info on the only residential marina on the island

Click here
Noor Sheriff