What will be the consequences of the Coronavirus on the Mauritian real estate market?

What will be the consequences of the Coronavirus on the Mauritian real estate market?

By Olivier Babet

The health crisis due to Coronavirus has certainly had an impact on the real estate market in Mauritius.  It is unprecedented that this pandemic has taken over the world and affected the entire world. Will the figures predicted for 2020 still be reached? What will be the repercussions of the Coronavirus on the Mauritian property market? 

 What will be the consequences of the Coronavirus on the Mauritian real estate market? 

Transactions have drastically decreased, it is a fact. All estate agencies have closed their doors and visits to properties for sale or rent are now impossible. Virtual visits and new property purchases on plan are the only opportunities for potential buyers to continue in their real estate research.

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With banks also being slowed down and reduced in activity, the real estate credit market has also experienced a reduction in activity, making it difficult for buyers to finance their real estate projects. On the other hand, there is every reason to believe that when the recovery takes hold, loan applications and grants will start up again with new facilities.

The repercussions of the Coronavirus on real estate prices

This period of crisis makes forecasts for property price developments uncertain. While some professionals are advancing a decrease in rates, others are not saying as much. But for other more experienced professionals who have even experienced previous crises, the Coronavirus pandemic will have the effect of reinforcing the value of stone as a refuge. 

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A concrete example of this is China, which in the management of the Coronavirus has certainly perceived a fall in the volume of transactions, but property prices remain stable. However, given that they are all in a unique and unprecedented situation, only time will tell. 

So, it's up to you to tell us, would you be tempted to invest in stone when the stock market has shown its limits? We are interested in your opinion. Write to us at mauritius@barnes-international.com, we would be delighted to hear from you. 

 In the meantime, take care of yourself and your loved ones, this is the most important thing.