Investing in Mauritius, at what price and under what program?
With its diverse landscapes and dream beaches, Mauritius stands out for its peace and resources and offers real estate investment programs at competitive rates. In 2020, the average price of a square meter downtown is 680.25 €. This price can go down to 431.28 € and rise to 2695.5 € depending on the time of year.
The Mauritian government has put in place various investment programs allowing foreign investors to purchase property on the island. The acquisition according to these different schemes offers advantageous rates for those interested.
The IRS (Integrated Resort Scheme) allows a foreigner to acquire a luxury property in Mauritius in full ownership for a minimum investment amount of $375 000. These high-end villas or apartments are integrated within luxury hotels or hotel residences and benefit from all the services and infrastructures such as a golf course, marina, restaurants, spa, swimming pools, tennis courts, yacht club, diving center, 24-hour security service, concierge, maintenance teams, etc ...
The RES (Real Estate Scheme) allows to invest in real estate in Mauritius on a freehold basis, without having to respect a minimum amount of $375,000. By opting for this scheme, the investor will not obtain a residence permit. The RES legal framework is intended for people wishing to live in Mauritius less than 6 months per year and who wish to own their own property.
However, if the real estate investment in Mauritius amounts to at least $375,000, a residence permit is granted.
The PDS (Property Development Scheme) is the new regulation of the real estate laws in force in Mauritius. It harmonizes and introduces a more vigorous control on the real estate programs put in place in Mauritius. Developers will have to develop projects that will integrate with the environment but also with the surrounding Mauritian population. These projects will have to be developed by recognized developers with real estate expertise.
The conditions of the SDP will be practically similar to those existing to date:
- The residences will always have to be secured and integrate certain services,
- No minimum price imposed for the purchase of villas,
- Benefit on expatriation or retirement through the issuance of a residence permit with a minimum investment of 375 000USD.
The IHS (Integrated Hotel Scheme) is an investment formula which allows a foreign investor to acquire a property in full ownership which is part of a hotel complex in Mauritius such as a room, a suite, an apartment, a villa ... The investor entrusts the operation of this property to the hotel establishment under a rental lease. The investor will therefore not be able to enjoy the property permanently. On the other hand, a defined number of free nights in the hotel will be allocated to him. This IHS scheme does not entitle the investor to a Mauritian residence permit.