Lexpress Property Trends Lexpress Property Trends EN Light Version | Page 34

GENERAL ASSESSMENT: PROPERTIES FOR SALE ACCESSIBLE TO FOREIGNERS (IRS, RES & PDS)
PROPERTIES
ADAPTED TO ALL
INVESTMENT TYPES
In 2002, in line with its strategy of economic diversification and understanding
the significant contribution of Foreign Direct Investment to its real estate
sector, the Mauritian government introduced the Integrated Resort Scheme,
the first investment scheme which allows foreigners to acquire property in
Mauritius. In 2007, the RES (Real Estate Scheme) was also introduced. As from
2015, those two have combined into one same scheme for its new residential
programmes, the PDS (Property Development Scheme). Nowadays, demand
is skewed towards supply of more affordable prices and supply is adapting
to every budget. Mauritius is not a real estate destination reserved to wealthy
customers anymore.
*See more about all the real estate investment schemes: page 52
The property market of IRS, RES, PDS:
Houses Nearly all houses are for sale with
pools.
Regarding only IRS, RES or PDS houses,
nearly 1,500 listings have been posted
on LexpressProperty.com in 2018. The
number of searches has reached about
6 million in 2018. Those searches and
potential customers have resulted
in nearly 1,000 leads emails, sent to
providers of those different properties. Over five years, the North has increased
its leadership and has accounted in
2018 for more than half of the houses
for sale, followed by the West at 28%,
with the East (15% in 2014) and the
South each accounting for about 10%
of supply in 2018.
Supply of houses is majorly made of
3-bedroom formats (48%) et 4 bedrooms
(38%). Over 5 years, demand has adjusted
itself to supply, with however a peak
of demand in 2018 (13% of leads) on
5-bedroom or more formats, the highest
score since 2014.
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LEXPRESSPROPERTY TRENDS
In the Top 5 towns on the supply
side: Grand Bay, Black River, Tamarin,
Pereybere and Bel Ombre. In terms of
demand, Beau Champ joins the Top 5
at the expense of Bel Ombre.
Regarding sale prices range, houses
between Rs 25 to 80 million which
represented 41% of supply in 2014, has
increased to 56% in 2018. The share of
houses of less than Rs 25 million is on
the decline. As for demand, 41% tend
towards properties of less than Rs 25
million, which represent less than 30%
of properties listed online. An increase
in the number of properties of more
than Rs 80 million can be observed. In
general, demand towards affordable
prices is on a downward trend.
While France (51%) and the United
Kingdom (15%) topped the countries
from which foreign leads came from 4
years ago, their share has decreased
to 30% and 11% respectively in 2018,
the second place being taken by
Australia (Australia which is a country