Real estate in Mauritius, an attractive market for Mauritians and foreigners
Over the last decade, the Mauritius real estate market has benefited from an advantageous exposure at the global level. France is proud to be in first place among the countries that choose the island as their adopted home. With 42% of its expatriates thanks to ease of communication, it is followed by South Africa (22%), England with 9%, Madagascar with 4% and Belgium and Switzerland with 3%.
However, we should not neglect countries that are now discovering the range of real estate products associated with the postcard. Russia, India, America, Australia, Italy, China, Turkey, and Germany are among them. Mauritius is one of the most popular countries for business with 10% of investors. But even more so, as a pied-à-Terre where life is good. With a high standard of living, those at the end of their careers wanting to give a new lease of life and meaning to their retirement will find happiness there.
Love at first sight for this destination in the Indian Ocean….
It was love at first sight for this Indian Ocean destination during a stay. The conclusion is often the acquisition of a property in a second home. This is in order to continue to benefit their family members in Mauritius as well as in their country of birth. This category of investors opts, in most cases, for a villa to accommodate an entire family, or even convince the rest of the family to settle by investing in a second property.
Expatriates seem to be more advantaged than Mauritians, who occupy 9% of the market. This result is explained by the fact that 40% of expatriates moving to Mauritius have finished their careers with all the benefits that this can bring. The preferred regions remain the north and west.
If Mauritians are also looking for a residence, house or apartment, this clientele stands out in the professional field. Many houses are for sale or rent, mainly in the capital and in the center of the island. This is in order to accommodate offices for Mauritians and foreigners alike. However, there remains a significantly small percentage of young foreign couples or students visiting Mauritius for a few years who are turning to a temporary rental at an attractive cost.
Real estate in Mauritius; projects have been underway for several years now to offer Mauritians the opportunity to acquire an exceptional property
In order to bridge the gap between the villas offered to foreigners and young Mauritian professionals, projects have been launched in recent years. This offers Mauritians the opportunity to acquire a villa based on their purchasing power, which would be similar to the cost of buying land and a building. Mauritians benefit from a banking contribution ranging from 80% to 100% depending on the conditions. This market is booming thanks to the First time buyer regime. Include first-time buyers who have democratized the purchase of apartments, houses or villas, whether in a secure subdivision or in a new type of sector: Smart Cities.
A new generation of buyers has been born; that of Mauritian entrepreneurs who buy a second property for the purpose of renting or reselling it and others who return home after a few years spent on several continents to invest more particularly in the north or west of the island.
Real estate in Mauritius; in a land of opportunities for Mauritians and foreigners!