Pangia Beach - Penthouse D

Pangia Beach, Mahé Island, Seychelles

P-20116

Pangia Beach - Penthouse D

Pangia Beach, Mahé Island, Seychelles

A spectacular four bedroom beach penthouse for sale at Pangia Beach, Mahé, Seychelles in the magnificent Indian Ocean.

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4 Bed  |  4 Bath
USD 2,650,000

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Key Details

  • Building Size: 406 sq m (4,370.15 sq ft)
  • No. Floors: 4
  • Floor: 4
  • Units in Building: 29
  • Property Ownership: Freehold
  • Building Type: Penthouse/Resort residence
  • Foreign Ownership Allowed: Allowed
  • Service Charge: $1,812 per month
  • Taxes: 3% of the purchase price
  • Stamp Duty: 5% of the purchase price

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Irish
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Mexican
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Key Details

  • Building Size: 406 sq m (4,370.15 sq ft)
  • No. Floors: 4
  • Floor: 4
  • Units in Building: 29
  • Property Ownership: Freehold
  • Building Type: Penthouse/Resort residence
  • Foreign Ownership Allowed: Allowed
  • Service Charge: $1,812 per month
  • Taxes: 3% of the purchase price
  • Stamp Duty: 5% of the purchase price
Property overview

A spectacular four bedroom beach penthouse for sale at Pangia Beach, Mahé, Seychelles in the magnificent Indian Ocean.

Pangia Beach is an award-winning development of luxury beach apartments and penthouses with private marina on Mahé, the main island of the Seychelles. 

This recently completed boutique development, consisting of 25-apartments and four-exclusive penthouses, are spread over 4 buildings. Only two penthouses remain available to buy. 

Penthouse D is an exclusive four bedroom property of 406 sqm with direct lift access, its own infinity pool and fantastic panoramic sea views. The penthouse has four en suite bathrooms, one guest WC, living room, dining room, kitchen with high end stainless steel Miele appliances, TV room, laundry, attic and covered terrace. Designed by SAOTA, this fully furnished penthouse forms part of Pangia Beach, a luxurious development with direct beach access, a private marina and a club house with pool and gym.

The penthouse has been decorated by a renowned interior designer. The colour scheme, which is a soothing combination of neutral tones accented with turquoise, was selected to create a tranquil and relaxing interior to compliment the crystal clear sea and white sandy beaches of the Seychelles.

Pangia Beach has four penthouses of which two remain for sale. Each penthouse takes up an entire floor. These immaculate penthouses, which use carefully chosen materials and finishes from high end European suppliers benefit from an innovative curved roof which forms a double height ceiling. Combined with large aluminium sliding doors and the decorative glass eave, this vaulted ceiling creates a sense of openness and grandeur. With its wrap around terrace providing ample entertaining space and an infinity plunge pool, the Pangia Beach penthouses offer a seamless indoor outdoor living experience, ideal for the tropics.

This newly built penthouse is sold on freehold title with owners qualifying to apply for residency in the Seychelles. The purchase price includes furniture, as well as a secure garage, a covered carport and a boat mooring in the private marina.

Pangia Beach is minutes away from the shops and restaurants of Eden Plaza and is conveniently located half way between Victoria (10 mins), the capital of the Seychelles, and Seychelles International Airport (6 mins).

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Features

  • 24hr security
  • Gymnasium
  • Waterfront
  • Concierge
  • Outdoor pool
  • Watersports
  • Direct access to beach
  • Covered parking
  • Investment
  • Communal pool
  • Lift
  • Terrace
  • Air conditioning
  • Sea views
  • Fitted kitchen
  • Fully furnished
  • Fitted bathroom
  • Stone floors
  • Wooden floors
  • Frontline to beach
Regional Info

The Seychelles

The Seychelles has 116 islands spread over 788 square miles of the Indian Ocean, four degrees south of the equator and 950 miles north of Mauritius. Only 30 are inhabited, some are coral islands, some volcanic and many designated as natural reserves, a heady mix of raw beauty and exclusivity.

The Seychelles is a delightful combination of African, European and Asian roots with an intriguing history. The country gained independence from Great Britain in 1976 and remains part of the Commonwealth. English and French are both official languages with Creole widely spoken.

The joy of the Seychelles is the variety within the archipelago. Highlights include the island of Praslin fifteen minutes away by plane where the rare Coco de Mer palm grows in the World Heritage Vallée de Mai and the car-free island of La Digue, home to giant tortoises, colonial-style homes and deserted beaches. Felicite is a tiny granite island covering a little over one square mile. It is a near neighbour to La Digue and famed for its mystical, oversized granite boulders. Dense vegetation including mango trees, coconut palms and banana plantations cover much of Felicite where development has been carefully restricted to preserve the outstanding private island privacy.

Mahé

The island of Mahé is the largest and easily the most developed of all islands. It has the international airport and the world’s smallest capital, Victoria, complete with a replica of London’s Big Ben. The island is 17 miles long by 8 miles at its widest with 70 beaches Mahé is where the majority of the 90,000 population live, mostly in Victoria or on the east coast. 

From the high peaks of Morne Seychellois in the northeast to the blissfully natural west coast beaches, Mahé provides activities from snorkelling, diving and jungle walks.  The quiet and wilder west coast is only thirty minutes from the airport with dense forests of coconuts and particularly beautiful beaches including Petite Anse and Grande Anse. 

Fly to: Mahé Island

Flying time from the UK: 10 hours

Time difference: GMT +4 hours

Weather:

The islands of the Seychelles enjoy a year-round warm tropical climate, generally governed by two opposing trade winds. The south-easterly trades blow from May to September bringing drier and windier conditions ideal for sailing. From October to March the gentler north-west trades provide calmer seas but a higher chance of refreshing showers. Scuba divers will find April, May, October and November have the warmest seas and visibility is often 30 metres.

Buyers Guide

Pangia Beach – Penthouse D

  • Owners qualify to apply for residency in Seychelles
  • The purchase price includes a covered carport, a lock-up garage and a mooring
  • The penthouses come full furnished (i.e. furniture included in the purchase price)

Government Duties

  • Stamp duty: 5% of the purchase price
  • Sanction processing fees: 1.5% of the purchase price
  • Sanction duties: 1.5% of the purchase price
  • As such, total Government fees are 8% of the purchase price. These would be paid at the time of transfer of title

Notary Fees

  • Notary fees depend on the purchase price and is expected to be around $20,000

Levies

  • The levies at Pangia Beach will be calculated based on a proportionate basis of all the cost to manage, run and maintain the estate. The percentage currently stands at 6.9% of the cost. The services covered by the levies include dedicated estate manager, 24h security, gardening, cleaning of communal areas, insurance of the buildings, water and electricity to the communal areas, pool maintenance and lift maintenance
  • The approved budget is $304,000 per year which amounts to around $21,749 per year or $1,812 per month
  • Each year at the AGM, a budget would be presented for the owners to comment on and approve. In the end, it will be the owners who will decide how they want to run Pangia Beach and what they want to spend for this

Rent

  • Owners are free to rent out their apartment on a long-term basis (e.g. 1-year contract) and don’t need a license for this
  • Short-term rentals are not desired. We are not setting up a short-term rental pool (i.e. no Airbnb, holiday lets) or asking the Government for a license to do so. The key reasons are the following: (1) security [we want to avoid “strangers” to come in and out of the estate as this makes it harder to ensure security], (2) we want to keep a high standard for Pangia Beach. Short-term renters don’t really care about the property and hence they might ruin some of the common areas and they often don’t listen to the rules (e.g. make excessive noise, etc)

Process

  • Any foreigner purchasing a property in Seychelles needs to obtain Sanction approval from the Government. The process typically takes about 2-3 months from the submission of the completed file.
  • The documents that need to be submitted
  • A complete questionnaire
  • Certified true copy of passport
  • Copies of 2 utility bills less than 3 months old (for proof of address)
  • Police clearance certificate less than 6 months old
  • PEP letter
  • Signed declaration of funds (one page document)
  • Signed declaration of proof of funds from the bank (it could either be a statement of the savings account showing an amount higher than the purchase price or a letter from the bank stating that the purchaser has enough money to cover the purchase price)

Escrow Account

  • The seller has set up an escrow account (managed by Pool & Patel, a reputable local accounting firm) into which the buyers are expected to wire money in 2 instalments: one deposit payment upon signing and one further instalments upon completion. This money is only released from the escrow account to us as we fulfil predefined criteria, such as receipt of Sanction for the buyer, occupancy certificate/transfer of title, etc.

Typical Next Steps

  • Sign a Sale & Purchase Agreement
  • Wire deposit to Escrow Account
  • Submit Sanction Approval documents
  • Receive Sanction Approval (approx. 2-3 month process)
  • Wire remaining purchase price funds to Escrow Account
  • Handover of penthouse and transfer of title

General Tax Information

  • No capital gains tax
  • No inheritance tax
  • Only local income is taxed, and income earned abroad is exempt from taxation

SUMMARY:

  • Size: 406sqm, 4 bedrooms, 4 en-suite bathrooms, 1 guest WC, living room, dining room, kitchen, laundry, TV room, attic and covered terrace [see attached floorplan]
  • Penthouse D is listed at $2.65 million. The price includes a lock-up garage, a covered carport and a boat mooring. In addition, the penthouse also comes fully furnished. The penthouse is sold with freehold title. 

General facilities: direct lift access, infinity plunge pool, direct beach access, private marina, clubhouse with pool and gym

Similar Properties

Pangia Beach - Penthouse B

Pangia Beach, Mahé Island, Seychelles

EUR 1,941,748

Ambrosine 21 - Eden Island

Eden Island, Plaisance, Mahé, Seychelles

EUR 827,555

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