IRS-RES (Integrated Resort Scheme-Real Estate Scheme) luxury villas are looking for tenants. Some are no more willing to talk about “real-estate bubble”. The more cautious ones would rather mention the temporary difficulties and foreshadow an amelioration of the industry in some months. However, for the time being, clients are scarce.
Daniel Poupinel de Valence, Remax real estate agency’s director, is in the pessimists’ camp. “We are encountering a very difficult situation. The market is at half-mast. The lack of takers leads some owners to reduce their prices.” With renting prices exceeding Rs 150 000 per month, the IRS-RES villas are destined to rich foreign clients and it has been notices that they are scarce. Another real-estate agent added : “Beforehand, a number of those villas were occupied by South-African expats but most of them went back to their country and those properties, hence, stay empty.”
How does the rental management system works for IRS-RES? Isabelle Descroizilles, managing Director at Evaco Holiday give the explanation: “Our rental management system allows owners to stay in his property whenever he wants. The profits obtain on the rental are real revenues.”
The clients are still asking for Mauritian villas, she underlined. “The number of clients who can potentially opt for Mauritian holidays in a villa or an apartment is increasing: they are either here for holidays, for work, with their families, their lovers or with friends. Sometimes, they are here for longer holidays as they are retired. The comfort of the available spaces, the freedom (the clients do not have to buy breakfasts in advance or the half-pension) and finally the ‘a la carte’ service gives flexibility, allowing them to enjoy their stay without constraints.” She underlined. Furthermore, “at the Domaine des Alizées, for example, they can rent apartments of 1,2 or 3 rooms, fully equipped (American kitchen, TV, wifi, washing machine/dishwasher), knowing that, on the same site, they may go to the spa or have a drink at the Lounge Bar…”
If some operators refuse to be negative, they reckon that they are facing some difficulties. “Due to the crisis, we cannot ignore the necessity to provide to our guests “value for their money.” The Evaco Holidays’ offer begins with a one bedroom offer at Rs 2500 per night.
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Source: Magazine LexpressProperty Edition mars-avril 2014
