Mauritius: An increasingly attractive market?

Published on the

We interviewed four experts to assess the reliability and attractiveness of Mauritius as a property investment destination. With confidence, our partners share their optimism about the economic activity and the progressive reopening of our frontiers.

Bénédicte Duvivier, Fine & Country

“The Mauritian market has proven itself to be a reliable investment destination, regardless of the challenging circumstances. We noted a steady increase in queries and visits over the last few months, both from within Mauritius and from international markets. We have even been able to successfully close some of our transactions remotely as a result of our professional and tireless assistance.

Furthermore, we have observed a strong interest from local clients for holidays rentals, and the enthusiasm of foreign clients for expatriation. This encourages investors who seek to achieve a stable rental income. It also ensures that they cover the charges linked to their property, but also guarantee a minimum rental profitability.

Besides the local market, which remains as dynamic as ever, many foreign clients await the opening of our borders to pursue their property acquisition projects, thereby proving that Mauritius is indeed a popular destination for foreign investors.”

Sébastien Bax De Keating, Horizon

“As from October, new opportunities will arise with the arrival of travellers in the country having full access to the market. The rise in foreign currencies (notably the Euro, Rand and Dollar) brings real estate to a very attractive price for foreigners.

As a result, the process of opening up the country will encourage a gradual increase in prices. The impact of inflation on the cost of construction is significant and will keep rising: prices per square metre will be higher and living areas will be scaled down to fit within budgets.

Property investment opportunities are likely to emerge. At the moment, the supply exceeds the demand. It is advisable for prospective investors to look at the opportunities available on the market now. Over the long term, the destination can boost its reputation as an investment location. Authorities are in the process of removing the country from the FATF and EU lists. This would position the country as a safe and secure destination once again.”

Séverine Dalais-Pietersen, SEEFF

"Real estate has always been a safe bet, and Covid has reinforced this fact. In this respect, we have witnessed the growing interest of Mauritians towards buying land. The attractiveness of Mauritius to foreigners is constantly evolving but, since they cannot travel as easily to Mauritius, we find it difficult to conclude our ongoing files. Indeed, purchasing property remains an emotional choice and making a decision from afar is quite complex. The economic recovery of the sector is driven by the decrease in prices of some developers, forced to reinvent their businesses due to Covid, and by the new favourable budgetary measures. This is noticeable through the incoming applications from abroad. The present fall in interest rates is also a factor. Last but not least, though the exchange rate fluctuations do not benefit Mauritians, the opposite applies to foreign buyers, who obtain more value for their own currency. Which makes buying in Mauritius even more attractive. We believe all these key factors are presently driving property investment.”

Chris Lazare, Sotheby’s International Realty

“Real estate has been one of the least impacted sectors by the pandemic. In 2020, real estate accounted for 70% of foreign direct investment in Mauritius. One of the reasons behind this strong performance is the good management of Covid-19 and the resulting safety of the inhabitants.

Needless to say that the Budget 2021-2022 measures reinforce Mauritius’ inclusive policy, namely with the granting of an Occupation Permit to an investor and his/her family. This is expected to boost the market for property sales and rentals. On top of this, efforts are being made to digitalise the public service of the country, which will definitely be an advantage for those who want to relocate to Mauritius for work purposes. By the way, I also take note of some strong measures to encourage retirees to take advantage of life under the Mauritian sun.”