SA buyers hot for Mozambique property
Local property investors are flocking to get their slice of a massive new tourism development on the coast 25km north of Maputo in Mozambique, which is now fast regaining its popularity as a holiday destination for residents of South Africa's northern provinces.
Kim Pascoe, owner of the Chas Everitt International franchise in Nelspruit, which was recently awarded the mandate to market residential units in the development, says it will stretch along 40km of pristine coastline and will include a golf estate, a marina development and a nature reserve.
"Named Marina Macaneta, it will eventually occupy some 50 000ha and include a commercial town center as well as an agricultural element. Macadamia nuts and vegetables will be farmed," she says. Labour for the project will be drawn from surrounding local communities
The developer is not selling land, but the right to build units that will be registered to investors and for which they will receive title deeds. Such investments are guaranteed in Mozambique by legislation and syndicates to a maximum of 12 investors are allowed.
Pascoe notes that financing can be arranged in SA and that Mozambican banks will offer 100 percent finance once building on a unit is two-thirds completed. Packages start at about R650 000, with end-prices being largely determined by finishes, although all homes will be built of brick and have tiled roofs.
Stand sizes average around 1000 and the size of homes in the development will start at around 120sqm. Building costs are estimated to vary between R3000 and R4500/sqm and the developer will be responsible for all services such as water, sewerage and electricity and security. Top-notch security measures will include fingerprinting and card identification," she says.
A Marina Macaneta homeowners' association will be formed to ensure high building and architectural standards are maintained, and that natural fauna and flora are properly protected. Vehicle access to the beach will be strictly limited to demarcated areas.
Meanwhile, says Pascoe - who recently relocated from Johannesburg after acquiring the franchise rights to the Chas Everitt International Nelspruit office - the same trend that is driving investment in the Mozambican development is evident in the local Nelspruit property market.
"Many buyers from Gauteng, KwaZulu-Natal and even Cape Town are relocating to the lowveld in search of a better quality lifestyle. Prices here also influence their decision - property that would cost around R1,2-million in the east of Johannesburg can still be bought for around R850 000 in Nelspruit and about R750 000 in neighbouring White River."
Issued by Chas Everitt International
For further information call Brenda Smith at
Chas Everitt International Bryanston on 011 463 2033
or visit www.chaseveritt.com