LOOK: South Africans can own a luxury villa on exotic Zanzibar for R3m
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South Africans can own a luxury villa on exotic Zanzibar island for R3-million
The Spice Island of Zanzibar, off the coast of East Africa in the Indian Ocean, is famed for its alluring white-sand beaches, spectacular sunsets, stunning landscapes and tranquil forests.
And now you can own a luxury villa there.
Starting from just over R3 million, South Africans can purchase a two-bedroom, two-bathroom luxury coastal villa in an exciting first-of-its-kind resort development, Blue Amber, in Zanzibar.
The development also offers three- four- and five-bedroom homes.
The luxury mixed-use, seaside resort development along 4km of unspoilt Indian Ocean coastline occupies 410 hectares of tropical landscape on the north-eastern side of Zanzibar.
It incorporates residential, hotel, tourism, and community and public amenities.
It is the largest resort development of its kind in East Africa and is set to be Zanzibar’s premier island resort hotel.
Also expect the Shirazi Resort and Villas, which consists of 54 luxury pool villas, a leisure centre and a premium four-star resort hotel.
The villas start from $197 125 (about R3m) for a two-bedroom, two-bathroom unit, with a roof-top terrace or $319k for a double-storey three-bedroom, three-bathroom villa.
The first villas are due for completion within the next 14 months.
Once completed, the resort will offer two barefoot luxury eateries, a spa, yoga pavilion and gym, beach club and pool replete with a bar. There will also be an impressive shoreline aqua leisure centre where residents and visitors can enjoy a multifunctional play space that includes a comprehensive water sports facility, along with a beach eatery and a selection of thoughtfully curated retail stores.
Zanzibar forms part of the Republic of Tanzania as an autonomous part of the country, which enjoyed relatively high economic growth over the past decade, averaging six to seven percent a year, according to the World Bank. The economy is diverse with agriculture, quarrying, mining, industry, electricity generation and services and tourism.
There are also tax benefits.
Blue Amber said it allowed property owners to gain significant tax benefits such as a 15% tax rate on local income earned, no tax on worldwide income and no capital gains tax, stamp duty or inheritance tax on properties purchased.
Property investors, together with their spouses and their children under the age of 20, are eligible for residence permits. There is no minimum amount of time needed in the country to qualify.
Blue Amber is also the only strategic investment real estate development in Zanzibar with an untouched natural beach, with pristine views of Muyuni beach and Mnemba Island.
Another added benefit is a payment scheme for purchasers – $5 000 is payable upfront as a reservation payment, followed by four instalments, payable over a year.
Blue Amber managing director Saleh Said Zanzibar opened its doors to non-Tanzanian resident investors when the government announced a new tax and residency programme.
"Prior to this, foreign buyers could not own property on the island at all. For the first time in history, non-Tanzanian residents can invest in property on the tropical island.
"The Blue Amber resort enables non-Tanzanian residents to buy residential property in Zanzibar on 99-year leases, with the option to extend ownership by 49 years.”
NEWMARK Hotels and Reserves chief executive Neil Markovitz, who will be behind the operations for Shirazi Resort & Villas, said Blue Amber would attract property investors from across the globe, and the pricing also made it an attractive option for South Africans working in rand.
“I foresee immense investment potential in Zanzibar, which is a year-round leisure destination that is safe and politically stable. It is a dream destination for investors wanting to enjoy a tropical island escape, whilst also benefiting from the many tax breaks, the residency scheme, and the potential rental return on their property investment," he said.