Mauritius Real Estate Market Review

Initially, tourists from all over the world came here in pursuit of a paradise vacation. The main treasure of Mauritius is nature, stunning in its beauty. Covered with dense tropical greenery and sugarcane valleys and mountains, magnificent sandy beaches and cozy coves, coconut trees soaring into the skies, waterfalls and colored sands of Chamarel, sparsely populated areas with wildlife in the south of the island, where a small population of unique pink pigeons live in Red Book. All this splendor is framed by the purest waters of the Indian Ocean, shimmering with all shades of blue, turning into emerald. And, unlike many exotic places, there are no dangerous insects, animals and related diseases in Mauritius - that's why you don't need to get any vaccinations before visiting the island.

Every year, the demand for local real estate is growing more and more: having come to Mauritius several times on vacation, many decide to settle here for a longer time than the time frame of a regular vacation allows. In addition, an important factor for Russians working remotely is the fact that the difference with Moscow time here is only one hour. Citizens of the Russian Federation do not need a visa to enter Mauritius if the purpose of the visit is tourism, and the period of stay in the country does not exceed 60 days for each entry. At the same time, in total, Russian tourists can stay in Mauritius for no more than 90 days within six months, and a visa is issued directly at the airport.

Geography of Mauritius

North Mauritius is the most populated area of the island, as it is here that the capital of the state of Port Louis is located, where all government offices, offices of local and international banks, insurance and trade companies, as well as a university and several museums are located. The northern part of the island is also called Grand Baie - it is both a city, a resort and a beach, where restaurants, clubs, cafes and discos sometimes work around the clock. People considering purchasing real estate in this part of Mauritius are businessmen who plan not only to spend vacations in Mauritius, but to work, live and do business in Mauritius or remotely, permanently residing on the island or visiting regularly. Residential developments such as Bel Air, Benares, Savanah or KI Residences can be ideal choices for these potential buyers.

The west of the island is also known for its stable hot climate, so even in winter (in the southern hemisphere this is the period from June to August) the temperature here often reaches 28-30 degrees. This part of Mauritius has an excellent balance between urbanization and natural beauty. There are famous beaches, golf clubs, a well-developed surfing and deep-sea fishing infrastructure, numerous shopping centers, three private schools and a hospital, pharmacies and sports clubs, mountains and a safari park. In the western part of the island are located such luxury residential complexes as Marguery Exclusive Villas or La Balise Marina - the only marina on the island with full yacht infrastructure deep in the natural harbor.

The southwestern part of Mauritius is known as the Lemorn Brabant region - it is a peninsula, a village, and a mountain of the same name. Here is the most beautiful nature of the island, the longest white wild beaches that attract kiters and surfers who come here to catch waves from all over the world. Of the famous residential complexes here, one can note Belle Riviere or Bel Ombre, located on a huge area of several hundred hectares. De Bel Ombre is built on the former plantation of the Place du Moulin sugar factory and includes the residential Villas Valriche residences, two luxury golf clubs with spa facilities, a magnificent 18-hole golf course, and a beach club.

The east of Mauritius is the quietest and most peaceful part of the island, where magnificent nature also reigns with limited access to the benefits of civilization outside the territories of residential complexes. However, the properties themselves offer a wide range of services - restaurants, golf clubs, fishing, souvenir shops, first-aid posts and servicing of hotel-type apartments and villas. In the east of Mauritius, the golf infrastructure is especially well developed: it is in this part of the island that the Ile aux Cerfs Golf Club is located, one of the best not only in Mauritius, but also in the world. Recently, the development of the territory has begun, where the most expensive villas in Mauritius (from 10 million euros) will be located - the Les Veneures - Anahita complex.

In addition to housing under construction in Mauritius, there are options for the acquisition of secondary housing, which will cost the buyer more - due to the limited supply. Mauritius is a relatively new investment destination, booming only over the past ten years. And in the future, real estate on the island will only get more expensive.

Prices and residence permit

One-bedroom apartments in Mauritius can be purchased for 365,000 euros, a three-bedroom townhouse will cost 825,000 euros, prices for duplexes with an area of about 220 square meters with three bedrooms start at 1 million euros, and it will already cost to become the owner of a luxury villa or penthouse in the amount of 1.5 million euros and more.

In Mauritius, the basis of the legal system is the legislation of England and France, therefore, the leadership signed agreements on the abolition of double taxation with 33 countries, including Russia. In addition, there is no progressive taxation system in Mauritius and the acquisition of residential real estate by foreign citizens is encouraged - here you can get a residence permit with investments of more than 500,000 euros. Staying in the country for 183 days, it becomes possible to become a tax resident - the single tax rate is 15%, but inheritance and real estate gains upon resale are not taxed.

Thank you for your help in preparing the material:

Yuri Serzhantov, managing partner of Stone Investment RUS