The State of the Real Estate Market in Mauritius
Real Estate Market in Mauritius: A Post-Pandemic Outlook
The real estate landscape in Mauritius has seen notable shifts since the pandemic. Investors have shown a heightened interest in residential properties, prioritizing comfort and lifestyle. Despite global uncertainties, Mauritius maintains its appeal as a secure haven for real estate investment, bolstered by government initiatives aimed at attracting foreign buyers. With its diverse property offerings and stable political and economic environment, Mauritius remains a top African destination for real estate investment.
Why Invest in Mauritius Real Estate?
Mauritius boasts a dynamic real estate market. While 2020-2021 were impacted by the pandemic, the island consistently attracts foreign investors. Real estate remains a stable and active sector, offering a reliable investment opportunity. The island’s urban development over the past two decades, coupled with modern infrastructure and new buildings, has driven demand from both local and international buyers. This increased demand is gradually balancing the supply and demand equation.
The pandemic’s rise in remote work has further fueled interest in Mauritius, as investors and professionals seek locations that offer both comfortable living and a conducive work environment. The Mauritian real estate market has demonstrated stability in recent years, with prices generally aligning with inflation. It’s worth noting that in 2022, a minimum investment of $375,000 in an apartment was required to obtain a permanent residence permit. Prices for new apartments and villas typically range from $220,000 to $370,000, depending on location, amenities, and other factors. As with any high-end destination, prices can increase significantly for luxury properties.
The Security of Real Estate Investment in Mauritius
Real estate investment offers greater security compared to the volatility often seen in the stock market, especially in the wake of the pandemic. Real estate has long been considered a safe haven, less susceptible to economic downturns than other investment types. Properties in Mauritius generally depreciate less over time.
Real estate investment can generate attractive rental income and potential capital gains upon resale, particularly for properties in prime locations or with desirable amenities. Additionally, real estate can serve as a means to grow long-term wealth and pass it on through inheritance.
Mauritius regulates foreign investment in real estate through programs like the PDS (Property Development Scheme) and SCS (Smart City Scheme), restricting purchases to designated areas. The Economic Development Board (EDB) oversees investment activities and provides resources to facilitate transactions, tailoring guidance to individual investor profiles.
The FODY Advantage
Our FODY Mauritius team, with a presence across the island, is ready to assist you with your real estate endeavors. Whether you seek information or support throughout your investment journey, we’re here to help. Contact us for personalized guidance.
