Situated in the heart of Mauritius, Petit Raffray exudes historical charm balanced with modern luxury. From its archaeological site at Mare Sèche to its remnants of 17th-century settlements, the region is an intriguing blend of old and new. The small town is nestled in the Rivière du Rempart district and surrounded by sugarcane farms offering a tranquil rural retreat. Despite its peaceful surroundings, Petit Raffray is not far from the bustling city of Port Louis, ensuring a culturally diverse and vibrant lifestyle.
About The Exclusive Property Market In Petit Raffray
Petit Raffray is home to a booming luxury real estate market, displaying a continuous trend in increasing demand, which nicely aligns with the reasonably stable supply of upscale homes and apartments. Investors find Petit Raffray attractive due to its unique blend of nature, tranquility, and accessibility.
Even though changes in the economy are ever-present, Petit Raffray's political and economic climate remain steady, further enhancing trust and confidence in long-term property investments in the area. It's worth noting that both buyers and sellers typically tend to pay around 5% commission to real estate agents.
Understanding The Costs Associated With Buying Luxury Homes
When considering the purchase of a luxury home in Petit Raffray, additional costs may include transfer tax, realtor commissions, notary fees, and even construction inspection or legal costs. The transfer tax generally stands at 5% for private properties, bringing additional meaning to the term 'investing in property.'
As an owner, you'd be required to pay a minimal wealth tax on the private house. Further, Petit Raffray, like many regions in Mauritius, doesn't require you to pay tax on the profit made when selling a privately-owned main residence. However, the rules change slightly when selling a second home; in this case, you might be liable for capital gains tax.
Mortgages And Financial Regulations
Petit Raffray follows general Mauritian rules regarding mortgages, hence one can expect to borrow up to 80-90% of the property value. Of course, personal income and the ratio between domestic and foreign capital play pivotal roles in securing a mortgage. Corporate tax in Petit Raffray and for all registered Mauritian companies are set at 15%, which also happens to be the standard income tax rate for residents.
Lifestyle And Amenities
Petit Raffray is renowned for its scenic beauty, golf courses such as the Sun Resorts Golf and upscale boutique shops. It's serviced by quality educational institutes, including Northfields International High School, and is in proximity to well-known hospitals like the WELLKIN Hospital. The town has easy road and rail access and is less than an hour's drive from Sir Seewoosagur Ramgoolam International Airport.
Famous landmarks include the SSR Botanical Garden and the historical Château de Labourdonnais. Annual events, such as the Festival Kreol, depict the rich and vibrant culture of the region. Petit Raffray is also just a short drive from the capital city of Port Louis, offering a smaller-town feel with easy access to urban amenities.
Petit Raffray is an epitome of upscale countryside living - quiet yet vibrant, secluded yet well-connected, thus offering an aspirational lifestyle brimming with luxury.
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