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.