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Living in Mauritius, a dream come true

Perspective

24/10/2018

The voice of Outi de Falbaire, Associate Director of BARNES Mauritius, rises with enthusiasm when she talks about the many benefits that the island’s new residents experience on a daily basis.

Out de Falbaire disclosed to us that since 2002, the luxury real estate market in Mauritius has been growing considerably among a foreign clientele. The island’s new regulations, such as the Property Development Scheme (PDS), has opened the real estate market to foreign investors. As a result, non-Mauritians can acquire property on the island and benefit from many tax advantages.

With its idyllic climate and welcoming population, the island of Mauritius has always attracted visitors from all over the world. Its political and economic stability, excellent healthcare and education system, and French-English bilingualism draws in foreigners to relocate or buy a second home in Mauritius.

Who are these new residents?

The French have always been fond of Mauritius and, to show their affection, represent 45% of buyers. South Africans are the second largest group, with their 30% share. The remaining 25% is mostly comprised of European, Swiss, Belgian and English investors.

Let’s not forget that Mauritius is located in the European time zone, specifies Outi, which is a considerable advantage for entrepreneurs interested in establishing their principal residence and company on the island. In addition, the airport services flights to major international capitals on a regular and daily basis. For South Africans, Johannesburg is only a 3-hour flight away and Cape Town reached in 5 hours.

The island attracts 3 types of buyer’s profiles, Outi de Falbaire tells us. Firstly, there are families looking for a change of scenery and lifestyle, as well as a great education for their children, such as the Lycée Français and international schools. Next are the recently retired and investors who buy second homes in Mauritius. When out of town, they rent out their properties. The island’s beauty and idyllic climate ensures a rental profitability that will cover all costs. Moreover, the Associate Director of BARNES Mauritius says that 40% of tourists today prefer to rent a fully-serviced apartment or villa (concierge, maintenance, chef) as opposed to staying in hotels. The BARNES agency manages the total rental process of clients’ properties.

Which properties are the most in-demand?

Villas with 3 to 4 bedrooms, a swimming pool, on a golf course or situated close to town, shops and schools are the most in-demand. Villas closest to the lagoon don’t necessarily have a swimming pool, rather a refreshing pool of natural water nearby. Coastal apartments in high-end developments are highly requested by foreign investors. They are easy to manage and in high demand in the rental market.

Outi de Falbaire revealed a pioneering project breaking ground near the island’s prettiest lagoon: Pointe d’Esny Le Village. The expert team at BARNES Mauritius has already begun to advertise this new real estate development: It offers 168 acres, luxury villas, apartments, and duplexes with swimming pools on an incredibly beautiful site surrounding natural ponds. Property prices range from 375,000 to 1.5 million euros.

This hidden corner will benefit from all the amenities and advantages of a village: pre and primary school, shops, restaurants, 30 acres of green space, several ponds, a sports centers, and private access to the beach and beach club for homeowners. Pointe d’Esny Le Village is a unique project with the potential and criteria to become one of the most pleasurable living environments in Mauritius.

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