Lexpress Property Trends Lexpress Property Trends EN Light Version | Page 29

GENERAL ASSESSMENT: PROPERTY SALE EXCLUSIVELY TO MAURITIANS
more than 3,000 listings have been
published in 2018 on LexpressProperty.
com and this number has more
than doubled over the last 5 years.
The number of searches done by
potential customers has increased
more than six-fold in the last 5 years
to exceed 12 million in 2018.
Those searches and potential clients
have resulted in nearly 6,000 leads sent
through information request forms to
providers of those different properties.
The core of supply is constituted of
apartments with 3-bedrooms (63%) or 2
bedrooms (25%). Demand for 3-bedroom
apartments has remained stable around
53%. Demand for 1-bedroom apartments
( % in 2018) and -bedroom ones ( % in
2018) are however clearly increasing.
Half with pools and half without Over
the last 3 years, listings with communal
pools have increased at the expense of
private pools. Regarding the presence
of pools, demand follows the same
trend as supply.
Apartments for sale are mainly located
in the Centre ( 1% in 2018), the
est
(2 %) and the North (27%). The South
and the East are scarcely represented.
Demand has gradually adjusted itself to
supply and follows a similar trend.
The most popular towns are Flic en
Flac, Curepipe, uatre Bornes, Floreal
and Pereybere. Demand denotes a
rather comparable Top 5. Flic en Flac
leads markedly compared to other
towns whether in supply or demand
for apartments. Hence the
est
and the Centre lead the apartment
market ranking.
Over the last 5 years, the high-end
segment has developed at the expense
of the entry segment: from 46% to 38%
of apartments listed at less than Rs 5
million. Demand remains predominantly
oriented towards apartments at less
than Rs 5 million despite its decreasing
trend: 84% in 2014 to 64% in 2018.
However, a contrasting trend in the form
of a significant increase in demand for
properties between Rs 5 million and
10 million can be observed – which
represented 8% of leads 5 years ago,
compared to 24% last year.
hile the average market entry sale
prices, by price range, are rather stable
over the last 5 years, albeit slightly on
the decrease in 2018, the high-end
apartment segment, in contrast, records
an increase and sees its average price
first somewhat decrease between
201 (Rs 27.8 million) and 2016 (Rs 25.3
million), before significantly increasing
to reach nearly Rs 32 million in 2018.
Regarding more specifically 3-bedroom
apartments, the average prices per
price range are quite stable, except for
the high end (more than Rs 20 million)
whose average price has significantly
increased since 2017. e can assume
that the creation of the
2 acquisition
scheme for foreigners in 2016 has had
an immediate effect on the high-end
segment prices.
The median price of 3-bedroom
apartments for sale in 2018 is at Rs 6.5
million. The lowest quarter of the market
is for sale at less than Rs .5 million,
while the highest quarter of the market
is at Rs 12 million.
Key Facts:
Both supply and demand in cons-
tant growth on Lexpress-Property.com.
Relatively stable average prices,
except for the high-end market
where they are on the rise.
Demand is primarily skewed
towards more accessible proper-
ties while the price of the properties
for sale remains high.
Hence, a mismatch exists between
supply and demand price. Real es-
tate remains too expensive com-
pared to the purchasing power of
Mauritians.
2014-2018 - PROPERTIES FOR SALE EXCLUSIVELY TO MAURITIANS *
*Statistics include: apartments and houses
Assessments conducted on 17,626 listings over 5 years and 40,153 leads emails received during the same period for the same properties (excluding telephone calls and
complementary marketing campaigns on LexpressProperty.com)
BREAKDOWN BY TYPE: HOUSES/APARTMENTS
Apartments & Penthouses
SUPPLY: LISTINGS
For properties for sale for the local market, while individual houses remain
predominant and represent 58% of supply in 2018, the share of apartments has
been constantly increasing over the last 5 years.
Houses & Townhouses
DEMAND: LEAD EMAILS
Demand is more stable and is skewed on average, at 60% towards individual
houses compared to 0% for apartments.
LEXPRESSPROPERTY TRENDS
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