Lexpress Property Trends Lexpress Property Trends EN Light Version | Page 35

GENERAL ASSESSMENT: PROPERTIES FOR SALE ACCESSIBLE TO FOREIGNERS (IRS, RES & PDS)
welcoming the Mauritian diaspora and
this could explain the leads coming
from this country). In 2018, a stronger
activity from Turkey and South
Africa can be observed (the recent
introduction of direct flights between
Turkey and Mauritius may explain this).
See in more details, our overview on IRS
villas on one side, RES/PDS on the other
side, in the fig res ith comments on the
following pages (see pages 99 & 107).
The IRS, RES and PDS market:
Apartments
Regarding apartments for sale, nearly
1,500 listings were listed online in
2018 on LexpressProperty.com. The
number of searches done by potential
clients neared 4 million in 2018. Those
searches and potential customers have
resulted into nearly 1,100 leads, sent
through information request forms to
providers of those different properties.
Supply is mainly constituted of the
3-bedroom format (63% in 2018), or 2
bedrooms (25%). A peak of 9% of supply
of 4 bedrooms can be observed in 2018.
More than 90% of those apartments have
access to a pool, majorly communal.
If leads in the past have been largely
skewed towards apartments with
private pools, it has been less so in the
last 2 years, and in 2018, a peak of 25%
position at 17% in 2018. Luxembourg,
third in 2015, has been replaced
by United Kingdom at 11%. Is this the
Brexit effect
of leads towards apartments without
pools (9% of supply) can be observed.
The North has developed a dominant
share in terms of supply (51% in 2018),
ahead of the West (38%), on the
increase since 2016. The East’s share
has been on the decline as from 2014.
After having leaned towards the East
in 2014 and 2015, demand is skewed at
85% towards the North and the West
since 2018.
See in more details, our overview in the IRS
apartments on one side, RES/PDS on the
other side, in the fig res ith comments on
the following pages (see pages 100 & 108).
The Top 5 towns regarding supply of
apartments: Grand Bay and Tamarin
are ahead, followed by Black River,
Pereybere and Flic en Flac. Demand
follows the same pattern as supply
for the Top 5. The North and the West
remain the most dynamic regions.
Key Facts :
• The number of marketed proper-
ties (new or resale) is experiencing
an important growth.
• Apartments represent a growing
share of supply of properties
accessible to foreigners.
In 2014, 57% of apartments were for
sale between Rs 10 and 25 million. They
are only at 45% in 2018. A noteworthy
increase of properties at less than
Rs 10 million (18% in 2018), and the
development of supply between Rs 25
et 40 million (23% in 2018 vs 15% in 2014)
can be observed. Demand is skewed
towards more accessible prices: 33% of
leads are for properties of less than Rs
18 million in 2014 compared to 78% in
2018 (45% of supply in the same year)!
• Countries favoured by the Mau-
ritian diaspora as well as the coun-
try of origin of tourists lead the
markets of those most interested
by real estate in Mauritius.
• Demand is skewed towards most
affordable prices. The real estate
market accessible to foreigners
is therefore more open to the mid-
dle market, whereas a few years
back, it was focused on the high-
end market.
Regarding the countries of origin of
foreign leads, France, which accounted
for 45% in 2015 has droped to 33%
in 2018. South Africa is stable in 2 nd
2014 -2018 : SALE OF PROPERTY ACCESSIBLE TO FOREIGNERS*
Assessments conducted on 4,151 listings and 4,161 leads emails received over 5 years for the same properties
(excluding telephone calls and complementary marketing campaigns on LexpressProperty.com)
SHARE BY TYPE: VILLAS/APARTMENTS
Apartments & Penthouses
Villas & Townhouses
SUPPLY - LISTINGS
64%
62%
61%
DEMAND - LEADS EMAILS
56%
51%
87%
36%
38%
39%
44%
50% 44% 47%
50% 56% 53%
67%
49%
33%
13%
On the IRS, RES and PDS market, apartments have increased from a third to half
of the properties listed over the last 5 years
Nearly solely skewed towards individual houses 5 years ago, demand is spread
in 2018 into 47% for individual houses and 53% for apartments.
LEXPRESSPROPERTY TRENDS
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