How to choose the right property developer before committing to a project in Mauritius?
Alongside its idyllic landscapes, Mauritius is renowned for its attractive tax system and real estate programmes, which encourage many foreigners to invest in the country. However, becoming the proud owner of an apartment or a villa in Mauritius is not necessarily as easy as one might think, it is necessary to complete certain formalities and find the project adapted to one’s needs. Nevertheless, remotely – and even by making a few trips to Mauritius – it is not always easy. This is why it is important to surround yourself well from the outset and choose the right property developer. Indeed, the role of the latter is to help a buyer to find the rare pearl and to carry out all the necessary steps to validate and finalize their purchase. As a specialist, he or she is familiar with the Mauritian market, the rules and procedures to follow and can therefore facilitate the purchase of a property. But still, it is necessary to contact the right person. To do this, it is essential to take stock of your needs and your project beforehand, and then take the time to find out about it so as not to select a professional at random.
Setting out your needs to find the ideal property on the Island
To summarize the work of a real estate developer, one could write that he or she deals with the purchase of building land in order to develop programs on it. This involves both the drawing up of plans in collaboration with architects and the promotion of the residences that are to be built. In Mauritius, several developers are present on the market, including our team, and offer their expertise to investors. But before contacting them, you need to be sure of your project. Therefore, it is necessary to list your needs, your budget and your desires. For example, the geographical location, the surface area of the property, its destination (is it to be rented out? Will it be for retirement? Will it be used as a second home). The property’s value is also a key point in case of resale. Then, from this list, it will be easier to look for a specialist, to explain the project to him/her and to know which program is the most suitable.
Find out more and always contact a real estate professional
Investing in a property in Mauritius with the assistance of a developer secures the transaction, and guarantees that you will be advised and supported in the process. To make the right choice, several criteria are to be taken into consideration. A good developer must be able to present their work, their current or previous achievements. It is necessary that he/she is attentive, that he/she can answer all the questions related to an acquisition, to a real estate investment and this, even remotely by e-mail or by telephone. This person must also be able to provide the technical and legal details of a project, its financing conditions and all that concerns the guarantees – perfect completion, ten-year guarantees, etc. – that are required. – and liabilities. It is therefore necessary to inquire, to ask questions, to research online or with other buyers in order to obtain their opinions. Ideally, it is best to have him/her based in Mauritius. Most importantly, it is essential to seek the advice of a professional to ensure that you buy a property in complete safety and confidence.
A further reason for the strong growth of the Mauritian market, is the interest rates which are rather low and therefore, which encourage foreign buyers to invest. For example, in September 2019, outstanding bank loans for property purchases reached 1.75 billion euros!
Thus, for foreign investors (who are more and more demanding and want to benefit from goods that respect nature while having top-of-the-range services), real estate in Mauritius is a stable and profitable sector. Similarly, premises are also benefiting from the good growth of the market by acquiring modern goods and services.
