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Invest Mauritius Life

Working Remotely? Time to set up desk space in Mauritius.

Working Remotely? Time to set up desk space in Mauritius.
Why stick to loading up a laptop at home? In our increasingly connected digital world, it's easy to stay in touch, opening up options to perform tasks from almost anywhere.

For more than a year now, many of us have been working from home, and even though many offices are set to reopen soon, it looks like remote working – in some form or another – is here to stay. But why stick to loading up a laptop at home?  In our increasingly connected digital world, it’s easy to stay in touch, opening up options to perform tasks from almost anywhere.

Responding to an increasing demand for ‘workations’, hotels are offering longer stay packages and governments are even tempting tourists with extended visas.

Seeking a new working environment? Why not hot-desk in an exotic climate….

Fancy topping up your tan while tapping away and dipping toes into the Indian Ocean? Open to tourists, retirees or professionals who would like to work remotely, a new Premium Visa (business.edbmauritius.org) allows foreigners to reside in Mauritius for a year with an option to renew for those who comfortably settle into beach life. To help visitors with their move, the scheme offers an ‘arrival concierge’ to assist with issues such as banking or finding a car.

Keen applicants must provide proof of accommodation along with adequate health and travel insurance. And as long as applicants promise not to enter the local labour market, they are free to conduct their business from afar.

The only downside is a mandatory 14-day in-room hotel quarantine, with PCR tests on day 7 and 14. Also, anyone spending more than 183 days in the country is liable to pay tax. But on the plus side, the visa is available free of charge and includes a free Covid vaccination.

Alternatively, if you just fancy a long holiday, a regular tourist visa is available for anyone who wants to stay up to 180 days in a calendar year.

Contact us today for more information on how you can claim your piece of paradise. 

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Eco-Friendly Living on Mauritian West Coast

Eco-friendly Living on Mauritian West Coast
This region is blessed with great all-year round weather and is surrounded by majestic mountain ranges, natural beauty and where tranquillity prevails. Tamarin is now also home to the latest residential eco-estate, Akasha Villas.

The seaside town of Tamarin on the west coast of Mauritius, famous for its salt pans, white sandy beaches and rolling waves, is the perfect example of harmonious island living. This region is blessed with great all-year round weather and is surrounded by majestic mountain ranges, natural beauty and where tranquillity prevails. Tamarin is now also home to the latest residential eco-estate, Akasha Villas.

Beautifully located overlooking the Rempart River, towards the ocean and the Tamarina Golf Estate, Akasha Villas is the most significant development in the Tamarrin region in a decade. Occupying a prime elevated position, the estate is built on 24.5 hectares of land and consists of 75 exclusive villas.

Akasha’s Village, Terrasses and Corniche Villas are the height of private outdoor living.

Designed to maximise the area’s spectacular views while maintaining seclusion and preserving the natural history of the area Akasha’s Village, Terrasses and Corniche Villas are the height of private outdoor living.

Akasha Villas consist of three main precincts:

Villa Village

Nestled in the heart of Akasha, the Villas Village are built on the principles of sustainable development and occupy a gross area of between 280m² to 359.5m². Buyers can choose between three and four bedroom homes and can opt for either single or double story properties. These units are priced from €658 000.

Villa Terrasses

Private and secluded, the Villa Terraces offer spectacular views of the surrounding mountains, river, ocean and golf course. Offered as single or double story homes, these four bedroom villas boast a total gross area of between 505m² and 667.7m² and are priced from €1.433m.

Villa Corniche

Set along a crown-shaped planted belvedere overlooking the river and turquoise ocean, Corniche Villas enjoy a fascinating location. Resolutely contemporary and occupying a gross total area of 588.5m² to 667.7m², the villas are offered as either five or six en suite bedroom homes. Buyers can opt for either single or double storey homes. These villas are priced from €1.963m.

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Why Mauritius Is a Property Investment Magnet

Why Mauritius Is a Property Investment Magnet
Accessible via a direct flight from South Africa, the idyllic island of Mauritius is an irresistible destination of choice for South African property investors.

Conveniently accessible via short, direct flights from Johannesburg, Cape Town and Durban, the idyllic tropical island of Mauritius is proving irresistible as a destination of choice for South African property investors seeking to diversify their investment portfolios as well as buyers looking to acquire residency for themselves or their immediate family.

Coupled with this, more and more South Africans are doing business with Mauritius, making it an ideal location to springboard activity elsewhere on the continent, while tax rates for business and individuals are very attractive, at only 15% – with the advantage of no capital gains or inheritance tax. As a result, there’s already a large South African expat community on the island, adding to its appeal and making for an easy transition for those permanently relocating. Mauritius is currently also ranked first in Africa and 20 out of 190 economies for ease of doing business, according to the latest World Bank annual ratings (Doing Business 2019).

“Mauritius has certainly come to the fore, offering strong offshore investment opportunities in hard currency, as well as a secure lifestyle, within a burgeoning economy with a stable government, world-class international schools and a growing tourism market. All this with appealing property investments priced from only USD290 000 – plus, with purchases over USD500 000 you acquire permanent residency for you and your family.

“While the bulk of our enquiries are from South Africans and also French buyers, including French expatriates living in Africa, who have a natural synergy with Mauritius, where both English and French is widely spoken, purchasers also emanate from Switzerland, Germany, Belgium and elsewhere in Europe.”

For South Africans, interest continues to be centred around the areas of Grand Baie on the north coast (dubbed the St Tropez of Mauritius) and Black River in Tamarin on the west coast – areas where Pam Golding Properties offices are located – and in the price band from USD300 000 to USD2 million. Both these areas have a developing infrastructure, numerous recreational activities and a sense of community which augurs well for those intending to live permanently on the island – including retirees – or enjoying regular leisure breaks here. There’s also a growing demand for property to rent from young families relocating for career opportunities.

In this vein capital growth on investment is a key drawcard for property buyers, together with sound rental returns. In Grand Baie in the luxurious Mont Choisy Le Parc Golf & Beach Estate, where properties are currently priced from USD880 000, home owners have seen significant capital growth, says Haller.

“For example, we have recently resold a number of villas at prices in the region of USD2 million to USD6 million, which reflects capital growth of 50-60% in just four years. Mont Choisy La Réserve, Phase 3 of this premium estate, which is formally being launched via Pam Golding Properties Mauritius in December 2018, offers a new opportunity to buy into the most sought-after development on the island.  Flush with facilities, the estate boasts the 18-hole Peter Matkovich championship golf course and club house, Beach Club and Leisure centre including tennis, action court, yoga, gym and spa.

In the north in Grand Baie Pam Golding Properties is marketing a new resort-style development called Ki Resort Apartments, which is aimed at the South African residency and investment market. This is situated in Pereybere, a few hundred metres from the coastal road, offering access to the developers’ 2BeachClub right on Pereybere beach. This development is proving very popular with two-bedroom units selling from USD290 000. Residents have access to large swimming pools, a fully-equipped gym, café, underground parking and store rooms.

Another development in Grand Baie, a minute’s walk from the beach and 2BeachClub is Serenity Villas, with well-appointed three- and four-bedroom villas starting from USD2.66 million. Designed by world-renowned architect Stefan Antoni of SAOTA, the estate includes a fitness centre and swimming pool set in landscaped gardens.

In an elevated position in sought after Black River on the west coast in Tamarin, with sea and mountain views and conveniently near the airport, a luxury development called Akasha Villas is currently under construction, comprising freestanding, three to six-bedroom villas with large verandas and spacious living areas well-priced from USD910 000.

Boom in commercial real estate

Adds Haller: “With more and more companies setting up business in Mauritius, from as far afield as such as South Africa, India, China and countries in Asia, Europe and America, the island has experienced a boom in commercial real estate activity, with increased demand resulting in the development of many new office, industrial and warehouse buildings – notable growth which is expected to continue for the foreseeable future. At present commercial property enjoys a yield of about 8% per annum. Helping fuel the demand for high quality office and retail space is the increase in middle-class consumers adopting a Vida e café culture and wanting to enjoy a vibey retail experience with new brands.

“As a consequence of this boom in the commercial space, we are seeing a strong demand for good A grade office space as well as warehousing in the Freeport Zone, which is a sizeable duty-free logistics, distribution and marketing hub. Having launched Pam Golding Commercial earlier this year, we have a good selection of premium offices, warehouses and commercial developments available for rent or purchase, primarily located in the prime business districts of Ebene, just south of the capital of Port Louis, Port Louis itself, Grand Baie and Tamarin, among others.”

Commercial property currently available includes brand new A grade space in the four-storey Mont Choisy Business Quarters in Pointe aux Canonniers in the north of Mauritius. To be completed in July 2019, investors or owner-occupiers have the option to customise these shells and core office spaces, ranging in size from 32 to 94sqm plus parking, at prices ranging from USD105 000 to USD 308 000. The building will have 24-hour security, CCTV cameras and high-speed fibre optic.

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Invest Mauritius Life

All About Central Mauritius

All About Central Mauritius
Natural wonder awaits as the central region is home to nine species of endangered birdlife, lush forest, and the famous crater lake, Grand Bassin

The heart of the island has more rainfall and cooler weather than any other region. Of course, it is not the place to be for coastal highlights and white sandy beaches, but there are still plenty of family-friendly neighbourhoods, natural landscapes and historical landmarks to explore here.

A slower pace of life is on offer here, and you can leave behind the congested tourist traps in the other more developed areas. Not all slow living, though, you can find some bustling shopping malls in Central Plateau for all your retail needs, but it may not be inspiring enough to leave the natural beauty on display.

There are plenty of outdoor activities to enjoy including a lazy climb to Le Pouce mountain overlooking the island’s capital, Port Louis. The nearby areas such as Tamarin waterfall and western slopes of Black River Gorges also offer lovely hiking trails and other mountainous explorations.

Natural wonder awaits as the central region is home to nine species of endangered birdlife, lush forest, and the famous crater lake, Grand Bassin. Moka offers something different with its mix of mountain ranges, shopping malls and modern Mauritian life.

The Central Plateau

Mauritius has experienced unfortunate natural calamity in its recent history, most notably the devastating cyclones and malaria and cholera epidemics. In light of these, much of the 19th century saw a remarkable migration of people towards the central plateau and away from the harsher climate of the coastal regions.

This created a span of flourishing for smaller villages that are now lively towns accounting for around 30% of the entire island population. The most populated district, Plaines Wilhelms, named after Wilhelm Leicknig, a Prussian settler that landed on the island in 1721 is a bustling urban area where everyday Mauritian life is at it’s most true. 

This district is mostly urban and consists of the towns, Vacoas-Phoenix, Curepipe, Quatre Bornes, and Beau-Bassin-Rose-Hill. The villages in the area are Moka, Midlands, and Cascavelle. Not much in the way of tourist development is on offer here, and travellers will need to look elsewhere for more sophisticated shopping experiences. However, there are, in fact, some notable speciality stores in this humble district.

Curepipe

The romantic Curepipe is named after a “pipe-cleaner” and got its moniker from the travelling soldiers arriving to refill their tobacco pipes from Port Louis. Another hypothesis is that the Curepipe was the given name of an early landowner’s town of origin in the French countryside. Whichever theory may be right, the area has around 80 000 residents crowning it one of the more populous on the island.

500m above sea level, Curepipe is the highest and wettest town on the island. So rainy that Mark Twain, at the turn of the 19th century, coined it, “the wettest and rainiest place in the world” so be sure to carry an umbrella. Another natural wonder of the area is the Trou aux Cerfs crater, a dormant volcano of old.

Colonial architecture is seen at the town hall, St. Thérèse chapel and the Arcade Currimjee, the neighbourhood shopping centre. Domaine des Aubineaux is a turquoise windowed colonial mansion in the nearby suburb, Forest Side, and one of the stops on the ancient Tea Route.

Curepipe is more developed than other areas in this district. Locals recommend it as it boasts some upmarket and wealthier areas, namely Floreal and Phoenix, that are famous for an artisanal glass-blowing tradition. The nearby Quatre Bornes is renowned for craft markets held every Thursday and Sunday close to the St Jean Road. Shopping is a definite favourite in this vibrant region!

Moka and its Mountains

The Moka District is a shopping mecca for all residents of the Central Plateau and the island over with its large mall, food court, restaurants, bars and local entertainment. The weekend activity is always buzzing here as locals flock to the most popular shopping mall on the island.

For something different, the Moka mountain range is a special place to visit. Once an ancient chain of volcanoes, this range bears the island’s highest peaks, notably Pieter Both and the thumb-shaped Le Pouce. Charles Darwin once explored this territory and climbed its summits recording his wondrous experience is his influential book, The Voyage of the Beagle.

Grand Bassin and Surrounds

Grand Bassin also known as Ganga Talao is the island’s mythical crater lake, thought to have been created by raindrops from the River Ganges. Surrounded by spectacular tropical greenery, it was once a colonial hunting ground. 

Grand Bassin is now a sacred Hindu site. Small altars and burning incense can be seen everywhere as well as a staggering 10-meter statue of Shiva that welcomes you at the entrance of the Hanumanji temple. So popular a site for pilgrimage, there is a multilane highway to provide greater access for the island’s Hindu festivals. 

The largest of these festivals is Maha Shivatree, certainly one of the most significant Hindu celebrations outside of India. Here you will see devotees dressed in white, colourful flower wreaths, fruit and other religious offerings on display.

Tamarin Falls

Take a drive with the family to Tamarin Falls, and you’ll discover the highest waterfall in Mauritius, peaking at 293m. Also known as the “Seven Cascades“, the water runs in series down of seven larger falls, but there are eleven in total. You can glance at some of the falls from Henrietta village, but you’ll have to take a walk to see them in all their glory. 

Make it to the top, and you’ll be rewarded mountain pools, canyoning, abseiling and cliff jumps with the kids. But make sure to book with a professional guide for the safest experience as some of the climbs are rather technical.

Author: Rawson Property Group

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Decorating? Here’s how to do it without losing your depo

Decorating? Here's how to do it without losing your deposit
Here are some clever ways on how you can add a little charm to the home you're renting - without the risk of losing your deposit and upsetting the landlord.

Ask the landlord

Sometimes all you have to do is ask… So, chat to your landlord or the letting agent about what you’re allowed to update and how much you can change. Very often landlords are happy for their tenants to paint the property and varnish the doors.

Having said that though, it’s probably good to know that a landlord is not likely to change the kitchen cabinets or retile the bathroom. But asking if you’re allowed to hang picture frames, paint an accent wall and plant new shrubs in the garden are likely to get two thumbs up from your landlord.

Hang picture frames

One of the easiest ways to bring your personality into a home is to hang picture frames with personal photos and art works that resonate with you. Make sure it’s done well, though, by using an accent wall in the lounge or dining room or even your bedroom as your gallery.

This only requires a few holes in the walls, which is easy to fix with some filler and paint when you move out. If your landlord isn’t too happy for you to drill holes in the walls, you can always use stick-on nails to hang your pictures – chat to your local DIY store for some solutions. Another great aspect of hanging picture frames is that you can easily update them with new pictures and artworks, depending on your mood and/or current décor.

Upgrade the light fixtures

It’s not uncommon for rental homes to come with stock-standard light fixtures – and truth be told, they can often be a sight for sore-eyes and/or can emit unflattering fluorescent light. While it’s impractical and can be costly to change every light, it’s worth looking at updating the light fixtures in the most-used rooms, like the living area and the main bedroom.

Be sure to choose a fixture that goes with your personal décor style and that emits good light (softer light does far more for the aesthetic of a room than those bright, fluorescent white light). Don’t forget to budget for a professional electrician to install the light if rewiring is required – this will ensure that no damage is done, which can cost you the security deposit. And remember to keep the original light in a safe place to put back in before you move out.

If you’re worried that changing out the light fixtures will damage the property and cost you the deposit, then rather spend your money on lamps – a few stylish lamps in a room, like the lounge, can do wonders to update the look and feel. And with so many options available nowadays, it’s an easier and cost-effective way to bring your own style into your rental property.

Make small updates

As mentioned, your landlord is not likely to change the kitchen’s cabinets, knock out walls or retile the bathroom. That, however, doesn’t mean you can’t make small décor changes that will leave a big impact, such as changing door handles and cabinet knobs – it’s a great way to give a room an update also injecting your own personal style.

Don’t forget to make a list of all the items you switch out and to keep the originals in a safe place, so that you can restore it to its original state when moving. We even recommend chatting to your landlord before making these updates, as they might be happy for you to make these minor changes and leave them when you move out.

Dress your windows right  

Transforming a space starts with the right window-dressing – it can help create a cosy-look and feel as well as help you put your own personal stamp on your rental property. While your landlord might not be open to you removing those vertical blinds that makes your home feel like a 1980s office space, it doesn’t mean that you have to use them as your primary window-dressing.

Instead, opt for curtains that come in a neutral shade that matches the rest of the room’s decor. If your rental comes with curtain rods installed, consider lifting them and installing them a bit higher from the window frame – this will create depth that will make the room feel bigger and more impressive (make sure you hang extra-long curtains). Soon, your rental will truly feel like a home.

Lay down a rug

The floors in most rental properties’ are generally tiled or even carpeted in highly durable colours and materials – in other words, not flattering or complimentary to your personal décor style. Luckily this is easily fixable with a loose rug. Not only is this a great way to bring your own style and colouring into your home, but you can also take it with you when you move again. Plus, you need not worry that your deposit will be impacted at all by adding your own personal touch.

Happy home-making!

Author: Rawson Property Group Mauritius

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How to Make Moving Home Stress-Free

How to Make Moving Home Stress-Free
With a little planning and preparation, you can take the anxiety, tension and pressure out of moving. Check out these five ways you can easily minimise moving stress for a smoother, happier and more positive experience.
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Draw a budget

Moving home is not only a stressful experience, but can also turn into a costly one. To avoid unnecessary spending, your first step is to look at how much you have to spend on the actual moving process. By drawing up a budget, you will have a better idea on how much you can spend on moving services and how much you can spend on packing requirements like bubble wrap, boxes and tape. It should also give you a good idea if you can splurge on a packing service or if you may need to arrange that yourself.

Decide on DIY or Professional Movers

Once you know how much you have to spend on the move, it’s time to decide on whether you will make use of the services of a professional mover or if you will do it yourself. Keep in mind that a DIY move isn’t always the easiest, best or most cost-effective option – especially if you’re moving a fair distance that will require you to make several trips back and forth. Aside from renting a trailer or truck, you will also have to hire labour to assist; and this can become an expensive exercise.

Instead, ask your friends and family (Facebook is a great place to start, too) to recommend movers they’ve used in the past – there might be smaller and independent movers that you might not know about and that might fit within your budget. Don’t just settle for the first recommendation either. Contact the various recommended companies for quotes; we’re almost certain you will find one that won’t blow your budget.

Once you’ve decided on what option works best, make sure you book it as soon as possible. Movers, in particular, are often reserved weeks in advance. Another pro-tip is to consider moving mid-week and mid-month; these are often cheaper, as the demand is lower.

Notify relevant people

Your move may not necessarily fall on a weekday, but you may still want to take time off before and/or after your move – as said, moving can be stressful, and downtime can be just what the doctor ordered. So, chat to your boss about the possibility of taking time off.

Also notify your close friends and family about your move, so that they can assist with babysitting and/or pet-sitting, lend a helping hand with the actual move or, even, send you and your family a warm meal after a long day of moving.

Pack like a pro

Once you know who is moving your home contents, it’s time to start packing. The key rule here is to start sooner rather than later: leaving things to the last minute will only add additional anxiety to an already stressful situation. Plus, working in advance of your move will give you enough time to sort through your possession, throw out or donate unwanted items, and wrap up and box the items that you’re taking with.

Here are a few pointers to pack like a pro:

Source supplies: make sure you have all the right stuff for packing. You can source boxes from your local grocer or purchase new boxes or re-useable plastic boxes from specialist suppliers or moving companies. Don’t forget the bubble wrap or newspaper to wrap up fragile items and tape to ensure your boxes are well sealed.

Keep track: Keeping track of what you’ve packed in which box is one of the trickier sides of starting to pack earlier. The easiest way around this is to pack the non-essential items room by room and clearly label each box with its destination in your new house and what some of the contents are – make sure you add the labels on the side of the boxes, so that you can still read them when they’re stacked. On the day of the move, make sure you instruct the movers to place the relevant boxes in the relevant room; this will prevent you wasting time lugging heavy boxes around yourself and will give you more time to focus on unpacking

Another pro-tip is to mark every boxed packed and, then, correlate the numbers (and contents, if you like) on a spreadsheet on your computer or physical notebook. This will make it easy to check that nothing gets left behind.

Action items the day before your move  

Turn your fridge and freezer off the night before you move, to allow sufficient time for it to defrost and to be cleaned out before your move. Make sure you empty the drainpipes and dirt traps on your dishwasher, washing machine and dryer; lock your valuables and very fragile breakables in your car the night before (please only lock your valuables away if you have secure, safe parking; alternatively, as a close family member to store them for you for the duration of your move). Don’t water your pot plants at least 2 days before your move, as this will make them heavier to carry and more likely to drip on or stain other items.

Lastly, don’t forget to keep a few essential items aside for the day of the move. These include a change of clothes; basic toiletries; a first aid kit with headache tablets and plasters; snacks and drinks to fuel up on the day of the move; a dustpan and brush; black bags; and a couple extra boxes and tape on hand. If you’ve not been able to arrange a babysitter for your kids on the day of day, make sure that you keep some toys, books and games aside that will keep them occupied while moving.

Article by Rawson Mauritius

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House Hunt like a Professional in Mauritius

House Hunt like a Professional in Mauritius
The current buyers' market seems like an opportune time for buyers to shop for property. But, finding the perfect home that suits your pocket still requires some skill
Equire Today

During the last few years, many foreigners have been turning to Mauritius to settle and/or invest in real estate. A wise choice when you know the tax advantages offered by the Mauritian government but also, the beauty of its landscapes and its cultural diversity. Yet foreigners’ interest in Mauritius impacts on its real estate market, which is in full expansion.

Mauritius is thriving and offers profitable investments. And recently, there has been a strong development of the luxury rental market – exceptional properties are highly sought after by the French, Swiss, Belgians, South Africans and English – and an increase in construction projects. Opportunities are still waiting to be seized, especially as the Mauritian government ensures that the programmes accessible to foreigners do not go overboard.

Steady growth in recent years

Years ago, the people of Mauritius were the ones handling the construction of housing. Consequently, this limited access to homeownership. Today, this has changed and the economic stability of Mauritius has contributed to the development of the real estate. The Government has also taken measures over the past 10 years to attract foreign investors and facilitate their settlement. These measures and legal frameworks have also helped to prevent land speculation for the inhabitants by limiting investment to new programmes. As a result, it is not possible to invest anywhere in the territory. Some formalities and conditions must be met to invest locally. In concrete terms, this has resulted in new operations and the demand for new housing has increased. In Mauritius, the real estate market has not only been growing steadily but has also been booming in recent years. According to figures from the Economic Development Board (EBD), between 2006 and 2019, 2737 transactions were carried out in the Mauritian archipelago, for a total amount of 1.84 billion euros.

A dynamic market dominated by an increase in property construction

Mauritius’s splendid paradise landscapes are not the only reason for investors to acquire a property. Its political and economic stability provides reassurance. Similarly, Mauritius’ tax regime is considered one of the most advantageous in the world. The increase in tourism is also having an impact on the real estate market, especially on the luxury rental market. Indeed, tourists appreciate villas and apartments offering a privileged geographical location (on the waterfront for example) and prestigious services. Consequently, new projects have been developed to meet this demand.

A further reason for the strong growth of the Mauritian market is the interest rates which are rather low and therefore, which encourage foreign buyers to invest. For example, in September 2019, outstanding bank loans for property purchases reached 1.75 billion euros!

Thus, for foreign investors (who are more and more demanding and want to benefit from goods that respect nature while having top-of-the-range services), real estate in Mauritius is a stable and profitable sector. Similarly, premises are also benefiting from the good growth of the market by acquiring modern goods and services.

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Mauritius booming property market

Mauritius booming property market

During the last few years, many foreigners have been turning to Mauritius to settle and/or invest in real estate. A wise choice when you know the tax advantages offered by the Mauritian government but also, the beauty of its landscapes and its cultural diversity. Yet foreigners’ interest in Mauritius impacts on its real estate market, which is in full expansion. Mauritius is thriving and offers profitable investments. And recently, there has been a strong development of the luxury rental market – exceptional properties are highly sought after by the French, Swiss, Belgians, South Africans and English – and an increase in construction projects. Opportunities are still waiting to be seized, especially as the Mauritian government ensures that the programmes accessible to foreigners do not go overboard.

Steady growth in recent years

Years ago, the people of Mauritius were the ones handling the construction of housing. Consequently, this limited access to homeownership. Today, this has changed and the economic stability of Mauritius has contributed to the development of the real estate. The Government has also taken measures over the past 10 years to attract foreign investors and facilitate their settlement. These measures and legal frameworks have also helped to prevent land speculation for the inhabitants by limiting investment to new programmes. As a result, it is not possible to invest anywhere in the territory. Some formalities and conditions must be met to invest locally. In concrete terms, this has resulted in new operations and the demand for new housing has increased. In Mauritius, the real estate market has not only been growing steadily but has also been booming in recent years. According to figures from the Economic Development Board (EBD), between 2006 and 2019, 2737 transactions were carried out in the Mauritian archipelago, for a total amount of 1.84 billion euros.

A dynamic market dominated by an increase in property construction

Mauritius’s splendid paradise landscapes are not the only reason for investors to acquire a property. Its political and economic stability provides reassurance. Similarly, Mauritius’ tax regime is considered one of the most advantageous in the world. The increase in tourism is also having an impact on the real estate market, especially on the luxury rental market. Indeed, tourists appreciate villas and apartments offering a privileged geographical location (on the waterfront for example) and prestigious services. Consequently, new projects have been developed to meet this demand.

A further reason for the strong growth of the Mauritian market is the interest rates which are rather low and therefore, which encourage foreign buyers to invest. For example, in September 2019, outstanding bank loans for property purchases reached 1.75 billion euros!

Thus, for foreign investors (who are more and more demanding and want to benefit from goods that respect nature while having top-of-the-range services), real estate in Mauritius is a stable and profitable sector. Similarly, premises are also benefiting from the good growth of the market by acquiring modern goods and services.

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Invest

The performance of the Mauritian property market

The performance of the Mauritian property market

The Mauritian property market has improved leaps and bounds since allowing foreign ownership, where the first legislation, the Investment Promotion Act, was introduced in 2000. Thereafter, the first Integrated Resort Scheme (IRS) was launched in 2006, and in the last 10 years has seen capital growth over 300%.

With the opportunity for foreigners to invest in Mauritian property, from 2007, this continent has had a growth of up to 160% of US Dollar Millionaires (USDM); making it one of the top 5 performing markets in the world over a period of time. By the end of 2015, there were an estimated 3200 USDM living in Mauritius with a combined wealth holding of $12 billion. The growth of USDM’s within Mauritius by 2025 is seen to expand to about 7200.

 

 

 

Property price growth in 2016 saw 6% growth, with expectations for the next 10 years seeing 40% growth. Over the last 10 years, French foreign property investors have made up approximately 44,6% of the market, the next highest foreign property investors come from South Africa, with around 21,7%. South Africans have always been drawn to Mauritius for numerous reasons, some include that it is only a four-hour flight, the economy is stable and continues to grow, the secure ownership, tax benefits, as well as Mauritian residency.

 

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Mauritius Board of Investment

Mauritius Board of Investment

Knowing the investment potential that Mauritius offers to foreigners, the government of Mauritius created an investment promotion agency, otherwise known as the Mauritius Board of Investment (BOI). The task of this division is to mandate investment into Mauritius, as well as promote doing business and encourage live-work opportunities within the country.

It was reported in May 2016, that the BOI was planning to open a Johannesburg office in the near future. Niramala Mahadeo-Jeetah from the BOI shared with MoneyWeb, “The objective of opening up the office, together with the Ministry of Foreign Affairs, is to create more visibility about Mauritius, about the investment opportunities that it provides and how best the Board of Investment can facilitate investment in Mauritius.”

Since its independence in 1968, Mauritius was one of the few African countries to enjoy political stability. Mauritius is a parliamentary democracy with a multi-party system and with general elections are democratically held every 5 years. 

Mauritians highly value democratic norms and practices and no incidents have been reported over the past decades to indicate otherwise. All the successive governments have been strong champions of a market-driven economy where free enterprises can succeed and foreign investment thrives.

Since its independence in 1968, Mauritius was one of the few African countries to enjoy political stability. Mauritius is a parliamentary democracy with a multi-party system and with general elections are democratically held every 5 years. 

Mauritians highly value democratic norms and practices and no incidents have been reported over the past decades to indicate otherwise. All the successive governments have been strong champions of a market-driven economy where free enterprises can succeed and foreign investment thrives.