The news of the covid-19 pandemic still holds everyone’s attention. For Mauritius, the time is now for the country’s economy to revive, completely damaged during a long period of confinement. For foreign investors who plan to develop business abroad, Mauritius remains an upscale destination.
Real estate dynamism reborn after confinement
After being put on hold for several months, following the covid-19 pandemic, the Mauritian real estate market is gradually rising from its ashes. With the current global economic crisis, many real estate projects have been put on hold. But with the deconfinement, property visits resume and administrative procedures are also accessible again.
For some real estate developers, this health crisis has made it possible to set up new projects. For the Mauritian authorities, to reflect and launch new accompanying measures for the next investments to come. For those who wish to buy or rent, change country or acquire a second home abroad, Mauritius intends to open its borders soon.
A dream destination for investing in real estate and land
Particularly popular for its idyllic landscapes, it’s largely sunny tropical climate and the many investment opportunities it offers, Mauritius remains a perfect destination for investing in real estate after the coronavirus. Nestled in the heart of the Indian Ocean, the island has all the assets to fully enjoy a life by the sea and fulfill your dream of becoming the owner of a property abroad.
With deconfinement, Mauritius is gradually launching its rental and purchasing activities. The real estate market is regaining its dynamism thanks to the support of local authorities and the digitization of procedures. Launched in mid-June 2020, the switch to new digital uses in the real estate sector has already led to a significant increase in requests, especially from European investors. After severe confinement in all European cities, many Europeans wish to invest in a tropical island, and Mauritius offers a wide choice of investments, accessible to all budgets.
New measures to invest in real estate in Mauritius
After the coronavirus, Mauritius offers several shopping opportunities at a price that is much more accessible than before. Faced with a strong increase in demand, the real estate supply is also experiencing a sharp increase throughout the territory. For online rental management agencies, deconfinement also portends excellent news. Rental demand is increasing gradually, with around 47% of requests for additional visits recorded on the various advertisements. A much more favorable figure compared to the number of requests for visits recorded before confinement for rental housing.
Towards a digitalization of the Mauritian real estate market
At present when the end of the pandemic is partially announced in Mauritius, new investors are called upon to use electronic services to limit the risks of contamination. The digitalization of the real estate market also makes it possible to facilitate the administrative procedures related to a real estate purchase. Many developers offer online tours of their properties, allowing buyers to make an initial selection for a future purchase.
Real estate, still a safe haven despite the crisis
Mauritius enjoys, outside, the image of a country that has managed to manage its health crisis well and we now perceive it as a refuge with a good level of governance, which explains why the interest aroused by our island is far from being cooled. In addition to this refuge island image, in the current context, more than ever, real estate remains a value offering a more lasting and less volatile solution than certain financial investments. Unlike marketable securities, real estate is tangible and also enjoys timeless value: whether for rent or for purchase. In addition, a real estate investment is less subject to fluctuations linked to the economic climate, as is the case for the stock market, “according to Trimétys. A position fully shared by David Martial, emphasizing the constant evolution of the value of real estate, an inseparable factor of the narrowness of a territory. On the other hand, the choice of the project as well as the credibility of the developer remain decisive in order to optimize the return on investment as well as its growth potential over time
Buy land in Mauritius
Buying land and building a house sometimes represents the sacrifice of a lifetime, so trust the professionals in the real estate world in Mauritius not to make mistakes.
Always ask for the deed and verify that the seller is the owner of the property he is selling.
Ask for a “site plan” and make sure that the plan corresponds to the land that is for sale.
Have a sworn surveyor verify that the plan presented to you corresponds to reality.
Check that there are no rights of way and that the land is constructible.
Make sure that water and electricity are available or that it can be installed at low cost.
Make sure that the property for sale is not encumbered with any mortgage or security.
Make sure there is no noise nuisance in the neighborhood. The smells of a poultry farm or the noise nuisance of a ballroom can poison your life.
If you have any doubts, have a soil survey done to make sure you are not in a floodable or swampy area.