An overview of the property market in Mauritius

Category: Mauritius Real Estate

Mauritius has long been a popular destination for property investors, due to its beautiful beaches, tropical climate, and stable economy. In recent years, the property market in Mauritius has seen significant growth and development, with a strong demand for both residential and commercial properties.

One of the key trends in the Mauritius property market is the growth of the tourism industry. This has led to an increase in the number of luxury resorts and high-end properties being developed, particularly in popular tourist destinations such as Grand Baie and Belle Mare.

Another trend is the increasing demand for properties suitable for retirees and second-home buyers. Places like Tamarin, Black River and Pointe aux Piments have seen a growing number of villas, apartments and luxury homes being developed.

In recent years, there has also been an increase in the number of foreign buyers purchasing property in Mauritius, particularly from countries like France, South Africa, and India. This trend is expected to continue in the future as Mauritius becomes increasingly popular as a destination for investment and vacation properties.

On the other hand, the oversupply of new housing projects in certain areas has led to a decrease in prices in some regions. However, the market continues to be stable, and the government has announced plans to increase the number of affordable housing projects to help sustain the market.

The Mauritian government has also implemented a lot of policies to support the property market, such as the establishment of a fund to provide mortgage guarantees to first-time buyers, and the setting up of a special economic zone to attract foreign investment. These measures are expected to help to further boost the property market in the future.

In conclusion, the property market in Mauritius is currently showing strong growth and development, driven by the tourism industry, increasing demand for properties suitable for retirees and second-home buyers, as well as foreign buyers. Government policies and plans to increase affordable housing are expected to sustain the market in the future. However, there could be an oversupply of new housing projects in certain areas and a decrease in prices in some regions, it is recommended to consult professionals and experts in the field to understand the current market conditions.

So that they can help you with your enquiry, email the team at office@propertyfinder.mu.

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Karen Thornalley

2023-01-10 11:48:17

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