A dynamic post-confinement property market, a clear increase in demand in Mauritius.

A dynamic post-confinement property market, a clear increase in demand in Mauritius.

By BARNES

From renting to buying, their ongoing projects were put on hold for several months in the midst of the Covid-19 outbreak. The current crisis and containment have had a strong impact on real estate projects, due in particular to the complexity of property visits and administrative procedures that have also been put on stand-by. But with the deconfinement, prospects are brightening and projects are flourishing.

This health crisis has given rise to new projects for some, who have been able to take the time to reflect and embark on new life choices. With a stronger willingness to buy or rent, to move to another city, to acquire a second home abroad or simply to enjoy life and fulfil a dream, rental and purchasing activities are reviving with the deconfinement, and the real estate market is boosted, supported by new digital uses.

June 15 in Mauritius was the time for the realisation of the deed, and a significant increase in demand on the Mauritian real estate market could be observed, especially from Europeans. The confinement in the city in Europe has been less pleasant than on a tropical island, and the choice in Mauritius is not only vast, but also concerns all budgets.

Moreover, there are many opportunities to buy at a lower price, because if there is a strong increase in demand, there is also a strong increase in supply, and a real game of musical chairs has been set up.

As soon as deconfinement began, online rental management agencies saw a very clear upturn in rental demand, with around 47% more requests for visits on rental ads than the number of requests for visits before containment for comparable housing.

Digital as a solution

Deconfinement does not mean the end of the epidemic, but purchasers are generally ready to use dematerialized services, which allow them to limit the risks of contamination and to facilitate their procedures.

Online property visits are envisaged by 60% of buyers, and should enable both buyers and sellers to carry out an initial filter and concentrate their energy on a narrower selection of properties or buyers.