Published on and written by Cyril Jarnias
The Seychelles Real Estate Duel: New vs Old
In the booming real estate landscape of Seychelles, a new showdown is capturing everyone’s attention: the duel between new and old. While the lush modernity and innovative designs of recent constructions appeal to novelty enthusiasts, older homes, imbued with authenticity, continue to charm with their history and unique character.
This article offers a data-driven exploration of these two worlds, highlighting investment opportunities, cost differences, and long-term impacts on the Seychellois market, to help every reader make an informed choice in this fascinating match.
Good to Know:
The Seychelles real estate market has experienced steady growth for several years, with increasing demand for high-end properties.
Investment Opportunities
Both segments offer distinct opportunities:
- New Real Estate: modern technologies, compliance with current standards, higher rental potential
- Old Real Estate: historical charm, often prime locations, value-creating renovation possibilities
Cost Comparison
| Type | Average Price per m² | Additional Fees |
| New | €3,500-€5,000 | Reduced notary fees |
| Old | €2,800-€4,200 | Possible renovation work |
Advantages and Disadvantages of New Real Estate in Seychelles
Potential Advantages of New Real Estate in Seychelles
- Construction Quality: New developments generally meet recent safety and energy efficiency standards, with homes rated A or B for energy performance. This limits energy consumption and reduces environmental impact.
- Customization: The buyer can influence interior design, materials, or layouts during the design phase, offering a product tailored to their tastes.
- Limited Maintenance Costs: Thanks to the quality of recent materials and builder warranties (perfect completion, two-year, ten-year), little to no work is expected in the first few years.
- Asset Appreciation: The continuous development of tourist and residential infrastructure in certain areas brings appreciable medium-term potential for resale or rental exploitation.
- Tax Advantages: Seychelles regularly offers incentive measures to attract foreign investors (favorable taxation, temporary exemptions). For international comparison – notably with France – this can include a temporary exemption from property tax after delivery of the new property (up to 2 years) and reduced notary fees between 2% and 3% compared to 7% to 8% for old properties.
| Advantage | New Real Estate | Old Real Estate |
|---|---|---|
| Quality & Standards | High energy performance | Highly dependent on the property |
| Customization | Yes (before delivery) | Limited |
| Initial Maintenance | Low | Often high |
| Builder Warranties | Yes (10 years) | No |
| Appreciation Potential | Strong if in developing area | Variable |
| Taxation/Incentives | Possible exemptions, reduced fees | Less frequent |
Potential Disadvantages
- High Price per Square Meter: Modernity comes at a cost; according to several local and international analyses, the price of new is often higher than old. In Seychelles, this difference is also explained by the high cost of importing materials.
- Delivery Time: Buying off-plan often involves a wait that can exceed 12 to 24 months depending on the project’s complexity locally.
- Operational Risk: Delays or even cancellations exist if the developer encounters financial difficulties. It is recommended to carefully analyze their solidity before any contractual commitment.
- Limited Architectural Character: The default contemporary style sometimes lacks the typical charm that some old Creole houses can offer.
| Disadvantage | New Real Estate | Old Real Estate |
|---|---|---|
| Price/m² | Higher | More accessible |
| Timing | Wait related to construction | Immediate |
| (Non-)Delivery | Risk related to developer | Non-existent |
| (Lack of) Character | Standardized contemporary style | Potential for historical charm |
According to a recent estimate published in March 2025, over 70% of new real estate acquisitions by expatriates in Seychelles now concern projects integrating high energy standards or benefiting from specific tax incentives.
Key Takeaway
New real estate stands out mainly for its strict regulatory compliance and guaranteed modern comfort upon acquisition. However, its premium price requires thorough consideration of its asset interest compared to the immediate charm – but potentially more costly in maintenance – offered by some local old properties.
Good to Know:
New real estate in Seychelles offers advantages such as construction compliant with modern safety and energy efficiency standards, possible customization according to the buyer’s preferences, and reduced initial maintenance costs compared to old properties. Additionally, the value of new properties can increase with the development of surrounding infrastructure, and tax incentives are sometimes offered to buyers. However, these properties are often more expensive per square meter than old ones, with an average price about 15% higher. Acquiring off-plan properties may involve delivery delays and risks of postponement or non-delivery. Finally, some buyers regret the lack of architectural charm in new buildings compared to old ones, where occupancy rates remain high due to their history and unique aesthetics.
Costs and Benefits of Old Real Estate in Seychelles
| Property Type | Initial Purchase Price (€/m²) | Estimated Ongoing Charges | Renovation/Maintenance |
| Old Real Estate | 617 to 4,500+ | Higher (maintenance, energy) | Frequent renovation costs, lower energy efficiency |
| New Real Estate | 2,500 to 7,000+ | Lower (recent standards, warranties) | Limited maintenance in first years |
Initial Purchase Cost Comparison
– Old real estate in city centers trades between approximately 617 and over 4,500 €/m² depending on location and property prestige.
– New real estate shows higher prices, particularly in sought-after neighborhoods or seaside areas: between approximately 2,500 €/m² for a standard apartment and up to over 7,000 €/m² for a high-end apartment or villa with exceptional views.
Ongoing Charges
– Charges are generally higher for old properties: increased energy consumption due to less efficient insulation, regular or even urgent maintenance costs for roofing, plumbing, or electricity.
– New properties benefit from the latest local energy standards and often equipment under warranty.
Potential Advantages of Old Real Estate
– Authentic architectural charm difficult to find in new properties: historical woodwork, notable ceiling heights.
– Privileged central location: historic centers like Victoria or sought-after residential neighborhoods such as Bel Air benefit from easy access to urban services and beaches.
– Asset appreciation: the growing scarcity of traditional buildings often leads to sustained long-term value increase. Some old neighborhoods have seen their price per square meter rise significantly in recent years due to renewed international interest.
Specific Challenges
– Potential significant costs related to renovation: updating electrical standards, outdated plumbing, mandatory facade restoration according to local directives.
– Lower energy performance compared to new; possibility to improve through targeted but costly work.
– Continuous maintenance necessary to preserve original charm without degrading heritage value.
Statistics & Recent Trends
Between November 2024 and early 2025:
- The average price per square meter in the city reached approximately 617 €, with a range up to 1,064 €, but some premium old properties far exceed this threshold in highly demanded central areas like Victoria where they can reach 3,000 to over 4,500 €/m²*. In Beau Vallon (seaside resort), high-end properties even reach 5,000–10,000 €/m²* depending on location.
- The recent lifting of the moratorium on foreign purchases further boosts this valuation.
Concrete Examples / Case Studies
In Victoria city center: A typical apartment from the 1960s requiring renovation sold for around 3,200 €/m², while a turnkey renovated property found a buyer near 4,400 €/m², illustrating the gap related to necessary work.
In Beau Vallon: An old villa near the beach requiring significant restoration was recently listed around 6,800 €/m², compared to more than double for a comparable contemporary property fully equipped.
Old real estate attracts with its authenticity and heritage potential but requires budgetary caution regarding inevitable additional costs.
Good to Know:
Investing in old real estate in Seychelles presents both distinct costs and benefits when compared to new. Initial purchase prices may be lower, but ongoing charges, such as maintenance and possible renovations, can heavily impact the budget. Furthermore, old real estate often benefits from unique architectural charm and a central location, thereby increasing its heritage value. Recent statistics show that old real estate has experienced an appreciation of nearly 5% per year, illustrating its resilience against market movements. However, it is essential to consider challenges such as often lower energy efficiency and the need for upgrades to modern standards, which can translate into significant renovation costs. The case study of a Creole house in Victoria demonstrated a positive return on investment thanks to its historical appeal combined with a strategic location, despite high maintenance costs.
The Role of Builder Warranties in Choosing New Real Estate
Builder warranties play a central role in the decision to purchase a new real estate property, particularly in Seychelles where the market attracts both locals and many international investors. Their presence reassures buyers by removing a large part of the uncertainties associated with buying off-plan or in a recent development.
Typically Offered Warranties
- Perfect Completion Warranty: covers, during the first year after property acceptance, all defects reported by the buyer.
- Two-Year Warranty: protects for two years against malfunctions of separable building elements (shutters, faucetry, various equipment).
- Ten-Year Warranty: extends for ten years and concerns all damages compromising the structure’s solidity or making it unfit for its purpose.
| Warranty Type | Duration | Main Scope |
|---|---|---|
| Perfect Completion | 1 year | All defects reported at acceptance |
| Two-Year | 2 years | Separable equipment (shutters, sanitary…) |
| Ten-Year | 10 years | Building solidity and usage |
Financial Security versus Risks in Old Properties
Old real estate exposes more to financial risks related:
- To the frequent absence of structured warranties,
- To hidden defects not detectable during the visit,
- To wear and tear that can lead to costly unexpected work.
Conversely, buying new with builder warranties brings:
- Strong legal protection against major defects,
- Quick handling of repairs at no additional cost to the owner,
- A more serene investment climate thanks to these safety nets.
Influence on the Seychellois Market
In Seychelles, where many foreign investors seek security and transparency when making a often substantial real estate purchase, these warranties constitute a decisive argument. They drastically reduce fears regarding:
- Unscrupulous or insolvent developers,
- Potential delays or abandonments in off-plan sales (VEFA) notably thanks to the financial completion guarantee (GFA) which protects against sudden construction interruption.
This reassuring perspective therefore tends to clearly favor the choice of new among cautious buyers — particularly when it involves either a long-term primary residence or an international rental investment requiring reliability and visibility over several years.
Local Specificities
The Seychellois context presents some particularities reinforcing this choice:
- Regulation allows foreigners to purchase without major restrictions but only in certain designated zones, further accentuating their need for legal security.
In this island context subject to high humidity and tropical climate hazards, explicitly having builder warranties becomes crucial to anticipate any accelerated degradation linked to the local climate — an aggravating factor rarely taken into account in old real estate imported without sufficient structural adaptation.
No recent local statistics have been identified regarding the precise rate of actual recourse to the various warranties relative to the total volume of new real estate transactions in Seychelles. However, according to various professional feedback relayed by international agencies active locally, this requirement now ranks among the top three motivations cited by their private investor clients when choosing between new versus old real estate.
Good to Know:
In Seychelles, builder warranties play a crucial role in the choice of new real estate, offering financial security and peace of mind essential to allay the fears of potential buyers. The ten-year warranty covers damages compromising the building’s solidity, while the two-year warranty applies to separable equipment and the perfect completion warranty concerns defects reported within the year following work acceptance. These warranties surpass doubts related to potential hidden defects and obsolescence in old real estate, thus positively influencing purchase decisions. In an island market like Seychelles, where infrastructure can be affected by the tropical climate, these assurances represent a major asset, securing the investment for buyers. According to a local survey, nearly 60% of buyers in Seychelles prefer new real estate because of these warranties, illustrating the significant impact they have on the real estate market.
Comparative Price Analysis: New vs Old Real Estate in Seychelles
| Real Estate Type | Average Price per m² (Mahé, Victoria) | High-End Price (Beau Vallon) |
| New | 4,000–5,500 € | 7,000–10,000 € |
| Old | 3,000–4,500 € | ~5,000–7,000 € |
Factors Influencing Prices:
- Location: Proximity to the coast, sea view, beach access, and sought-after neighborhoods like Bel Air or Mont Fleuri drive up prices.
- Equipment: Pool, security, underground parking, and home automation are common in new properties and justify a surcharge.
- Year of Construction: New properties benefit from a premium linked to the modernity of installations and current energy standards.
Current Trends:
– Strong demand for new properties linked to tourist attractiveness and growing comfort requirements.
– Overall bullish market with scarcity of buildable land on Mahé; similar but often less marked trend on Praslin or La Digue where supply is more limited but prices slightly lower.
Associated Cost Comparison
| Item | New | Old |
| Notary Fees | Approximately 6 % | Approximately 6 % |
| VAT / Taxes | Often included (VAT if applicable) | Less frequent |
| Maintenance | Low ongoing charges | Frequent renovations |
| Ten-Year Warranty | Yes | No |
Tax Points:
– New properties may benefit from temporary property tax exemptions or reduced fees under certain local programs.
– Old properties sometimes require more immediate investments for technical or aesthetic upgrades to standards.
Economic Impact on Buyer Choice
Buying new appeals to those seeking a turnkey property without work or technical surprises. However, the price differential per square meter – often +20% to +40% higher for new – encourages some investors to prefer old properties to access a premium location at a lower initial cost. This dynamic is reinforced by the general rise in real estate prices observed for several years in all attractive areas of Seychelles.
Price differences between islands are notable: Mahé concentrates the bulk of the high-end market while Praslin generally shows lower values (-15% on average), La Digue remaining even more accessible except for waterfront exceptions.
In Summary:
New real estate stands out for its modern equipment, controlled costs, and low maintenance but remains significantly more expensive. Old real estate offers a better surface/price ratio but with more uncertainties related to its general condition. The current Seychellois economic context favors rapid asset appreciation — which explains sustained demand despite these significant gaps between new and old segments.
Good to Know:
In Seychelles, new real estate is generally more expensive than old, with an average price per square meter 25% to 30% higher, due to modern materials, energy durability, and state-of-the-art equipment. In Mahé, the economic center, prices are higher compared to Praslin and La Digue, where supply is less dense. Old properties, although less costly to purchase, can lead to higher maintenance fees, notably for mandatory renovations. In terms of taxation, the tax advantages of new properties, such as exemptions, can offset the initial extra cost, thus influencing buyer decisions. The economic context favors old real estate for those aware of advantageous subsidies and loans, while market appreciation and tourist potential dynamize demand for modern constructions, thereby modulating investment preferences.
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Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
