Things to consider when buying a property in Mauritius
Mauritius has seen, in recent years, numerous high end residential projects being built in recent years. Foreign investors, as a result, are being given a wide choice among villas, penthouses and apartments. Let’s seize the occasion to focus on what the island has to offer in regards to real estate properties.
Most of the properties classified into this category consist of luxurious villas nestled in luxuriant parks. These residential projects also include leisure infrastructures such as spas, restaurants, pools and gyms among others.
These common spaces aim to favour exchanges and encounters among residents in a secured and privileged setting. The most popular projects are situated next to white sand beaches in the North and West region while others offer a breathtaking panorama on golf courses and mountain chains.
The price tag for these up-market properties starts at USD 500 000.
Until recently, foreign investors could only buy properties classified under the PDS scheme. The Mauritian government has since amended the Non-Citizens (Property Restriction) Act so as to enable foreigners to purchase apartments in condominium developments of at least two levels above ground (G+2). It should be noted thought that foreign buyers will still need to be registered with the Mauritian Board of Investment (BOI) and obtain a security clearance.
The amount payable for the acquisition of an apartment must not be less than Rs 6 million and the new legislation allows non citizens with or without Occupational Permit in hand to acquire more than one unit and allows for the renting out of the apartments for rental return.
The acquisition of an apartment in Mauritius does not grant the buyer with a Permanent Residence.
For more information on the various investment opportunities in the residential real estate sector in Mauritius, contact Diamond Estates who will guide you in your project implementation.