Lexpress Property Trends Lexpress Property Trends EN Light Version | Page 25

THE MAURITIAN MARKET AND ITS SPECIFICITIES: PROPERTIES ACCESSIBLE TO FOREIGNERS
WHO INVESTS IN
MAURITIUS?
Trends observed on LexpressProperty.com are quite similar to those
presented in the EDB’s report about Hospitality and Property Development.
Among other things, this report points out that foreigners who invested in real
estate in Mauritius are mainly French ( 2%), South African (22%), English ( %),
Malagasy ( %), Belgian (3%) and Swiss (3%). Down on the list are also Russians,
Indians, Americans, Australians, Italians and ermans. It is, however, important
to bear in mind that Mauritians ( %) also invested in the same projects.
T
he Hospitality and Property
Development
Report
from
the EDB also points out that
European citi ens, as it has always
been the case (and this trend is backed
by the website s statistics) have been
major investors, accounting for 5 %
of investment. The average age of
these investors varies between 58 and
65 years, reinforcing the position of
Mauritius as the ideal destination for
people seeking a high standard of living
and an enjoyable environment towards
the end of their career. that foreigners who invest in Mauritius
tend to look for villas and 3-bedroom
apartments
( %)
or
-bedroom
properties (33%), and 5-bedroom
properties (13%). uillaume Merle from
Prime Home Properties enlightens
us with regard to this issue: Foreign
investors looking for vast spaces have
this preference because they are
often accompanied by the family. By
purchasing 5-bedroom villas, they are
looking for the experience of high-
end real estate which gives them the
space they need.
It is also a fact that over 0% of foreign
investors who purchased a property in
Mauritius did so to have a holiday home,
just to spend their vacations there. Data available from LexpressProperty.com
have also denoted emerging markets
such as Turkey (with the arrival of Turkish
Airlines in Mauritius) but also Australia,
a country with an important Mauritian
diaspora. However, this potential trend
has yet to be established in the future.
It is, however, quite interesting to note
that 10% of foreign buyers later chose to
invest in further professional activities in
Mauritius.
Many professionals highlight the
importance of indicating that it is quite
frequent to come across repeaters
(those who choose to invest in a 2 nd or
3 rd property) albeit there are, to this day,
no precise statistics concerning this
subject.
One must also be aware that the country
from which the investment emanates
does not necessarily entail that it is the
nationality of the buyer. For instance, in
the case of financial influx that transits
through Dubai.
Investing in Mauritius also depends
on a key factor: the language (and the
potential barrier it may represent).
Assesssing the property market's
The website’s general trend indicates
e have, for 5 years, recorded at
least 20 sales from China on the whole
Mauritian market”, explains Sachin
Mohabeer from the EDB.
e approved
5 projects from Chinese developers.
But Chinese people do dot purchase
off-plan properties only completed
projects. This approach which puts
construction as the first step and sale
as a second brings forth a different
perspective on newly-built real estate.
Alteo Properties CEO Patrice Legris
states that: The sources of tourist
markets and real estate are parallel
ones. Since we, Mauritians, speak
mainly English and French, it is harder
for foreigners who do not master these
languages - for example the Chinese -
to come to Mauritius. This dual obstacle
- cultural and linguistic - should not be
overlooked.
Finally, according to the report of the
EDB, the average prices of residential
units were as high as Rs 5 million per
unit in 2006 to decrease to Rs 1 million
in 2012, growing back up to 35 million
in 2018.
Nonetheless, ENL Property’s Head of
Marketing Mika l Le Luron suggests that
the current trend points to a price range
of less than Rs 26 million, representing
70 to 75% of demands, as compared
to the demand for properties of over
$ 1 million which represent 25% to 30%
of the demand.
LEXPRESSPROPERTY TRENDS
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