- Sarah Kaplan
Investing in Mauritius?
In my case, arrived in October 2020, I had signed my villa off-plan in November.
I knew what I wanted, but above all I knew what I didn't want!
I know what you’re thinking: she's crazy! But today I am writing this post from my terrace in front of my swimming pool.
That's actually how I got into real estate with http://www.villabee.mu/, everyone I met asked me how I did it, the price, the laws, the taxes... and I would refer my friends to agencies and finally they would come back to me to ask me what I thought. It is true that I have loved real estate for a long time (All these years watching real estate TV shows!)
What do you need to know when you want to buy your villa, your apartment, your house in Mauritius?
Mauritius has been attractive to foreigners for many years, indeed its political stability, economy and tax advantages make it an interesting country in real estate investment. Even if you buy a property and you do not stay, you know that you will have an interesting profitability in rental (5%). It is mostly a touristic island.
So whatever happens in your life, you are unlikely to invest at a loss!
Since 2015, the Mauritian government has set up a regime whereby non-Mauritians can acquire property on the island, but with certain constraints to follow.
This system protects the interests of local communities. And yes, as a non-Mauritian you can't buy anything you want.
The property for you will be either a resale (already built) or an off-plan property under PDS / IRS etc. schemes. See the full list of possibilities on www.villabee.mu/fr/mauritian-laws. These are residential construction programs for foreigners.
If your property is valued over $375,000 you will be eligible for permanent residence for you and your family and you will be eligible to work in the country.
Resales (Houses, Villas, apartments)?
Buying an apartment or house in Mauritius is a dream. You must be surrounded by the right team. At www.villabee.mu our real estate agency offers you houses, villas and apartments based on your budget, your tastes and your expectations. We make tailor-made property searches since your project is unique and we are here to help you in your questions according to your lifestyle, your family and your hobbies.
The desire to quickly have your house already built is a luxury, it was my choice when I arrived, not the hassle of an off-plan purchase and the long wait (between 1 year and 18 months). Especially when you do not know the promoters and the quality of the construction work especially in Mauritius (humidity, cyclones, rain) But I quickly realized that I would not have what I wanted with my 4 children (what was I thinking having 4!)
The acquisition of a property in Mauritius is not complicated; notaries and lawyers are good, you just have to have the right people around you but that's the same everywhere! Personally, I was lucky. With my clients, thanks to my recent experience, I know how to support them at all stages, not just house viewings. You need support from a trusted person who knows the island, and all the stakeholders (not very difficult, the island is small) to guide you and help you make the right choices when you arrive.
Why buy off-plan?
I would say, as a priority, to make sure you have exactly what you want. Most developers now make houses, villas for people who live here, to their liking and not just for a holiday home (where all the houses are the same). But also, last but not least, the fact that waiting between 1 year and 2 years for your property means that you buy it about 25% cheaper, as soon as it is finished you could in theory sell it with a capital gain of 20%. http://www.villabee.mu/fr/off-plan
As you can see, buying property in Mauritius is not complicated, you just have to know the market well and especially be surrounded by the best team on site.
If you want to discuss it with me, it would be a pleasure for me to help you in your research for a future project, with the help of my partners. I am not an agent, I am here to find the house of your dreams but also for the rest (the process, the move, the paperwork, schools etc.)
Do not hesitate to contact me firstname.lastname@example.org