Mauritius, a paradise for golfers

Beaches, lagoons, sunshine, fiscal sweetness and political stability. Many French people are tempted by the appetizing cocktail offered by Mauritius. No need to be a millionaire to taste this corner of paradise in the Indian Ocean. In recent years, real estate, especially new, has been accessible to all budgets. To avoid excess, the authorities supervise real estate programs where foreigners can buy.

reassuring political stability, benefits from regular direct flights services with only two hours of jet lag with Paris and has a French-speaking population. As an icing on the cake, local taxation is attractive.

In order to support the economic boom of the island, the Mauritian government has, for ten years, decided to encourage the arrival and installation of foreigners by making their real estate investments possible. “To avoid land speculation harming Mauritians, the country has chosen to direct the investment flows of this international clientele,” explains Julien Faliu, CEO and founder of the Expat.com website and resident of Mauritius. Thus, their purchases cannot be made everywhere on the island. Impossible to buy a house directly from a Mauritian individual.

Foreigners can only access dwellings registered in official development “schemes” baptized, over the years, by various acronyms (IRS, RES, PDS). These are new programs sold on plans. These private complexes include at least 5 lots with integrated services. Recently, non-local clients have been able to access smaller operations, dubbed “R + 2”. These are small new apartment buildings of at least 3 lots on at least 2 levels.

possible to find new goods recently delivered,” adds Brett Gregory-Peake, director of Liaison, a real estate consulting company.

Various budgets

Faced with an influx of buyers of different nationalities (French, South Africans, and Middle Easterners), the supply of goods on the market is more and more varied. It caters to all tastes and above all to all budgets. “This ranges from the 2 bedrooms apartment of 80 m² at 200,000 euros inland to the 300 m² villa of 2 million euros with a beachfront, or even the duplex or the penthouse from 500,000 euros, “says Karen Angus. Prices soar in some very luxurious programs. Thus, at Anahita properties, contemporary villas, designed by renowned architects (Jean-Michel Wilmotte, Alister Macbeth), are offered between 3 and 15 million euros.

With swimming pools and services, standard private residences have joint ownership costs (security, trustee, maintenance of green spaces, insurance) of between 100 and 200 euros monthly. “However, the bill can go up to 400 euros monthly, or even more, for high-end villas in five-star hotel complexes with a golf course, spas, a fitness center, tennis, a club house, a boat house, restaurants, ”explains Lionel Magisson, director of Immodir Limited Real Estate & Investment International.

20% resale rate

“In a dynamic market where prices are stable, there is a large supply. As a result, it is often possible to negotiate the price with the promoter, ”says Brett Gregory-Peake. Less abundant, the market for the old (especially the recent) also exists. “Last year, 20% of the international properties sold were sold again,” said Jennifer Hirst, representative of Sotheby’s International Realty on the island.

In Mauritius as everywhere else, the choice of location is decisive. “For more convenience and for an easy resale, it would be better to avoid areas that are too eccentric or isolated and favor the north around Grand Baie and the west of the island towards Tamarin, two spots popular with foreigners. Even if these sectors are more expensive, the proximity of a city, shops and services are assets that appeal”, advises Laurent Tyack, director of the ORPI agency in Mauritius.

Tax sweetness and reduced fees

It is impossible to talk about Mauritius without addressing its attractive tax system. There is neither housing tax, nor property tax, nor capital gain tax. Income and corporate tax is 15%. There are also no inheritance tax.

A tax treaty between Mauritius and France allows French taxpayers to avoid double taxation. In the event of the purchase of property worth more than 447,000 euros, the owner will automatically obtain a residence permit. And if the latter stays six months plus a day in Mauritius, he will benefit from local taxation in terms of income tax.

Formerly occupied by the French, Mauritius has preserved and adopted certain hexagonal laws and regulations. As in France, when buying on plans, there is a financial guarantee of completion and a ten-year guarantee. In the old as in the new, the costs linked to the acquisition amount to 1.5% of notary fees plus 5% of registration fees, called transfer fees.

Real estate abroad: beware of the boomerang effects of taxation

Return on investment

For those who wish to make all or part of their property profitable during their absence, the seasonal rental solution is a winning formula. “Due to the mild climate throughout the year, there is a continuous flow of foreign tourists from all continents. It is therefore easy to rent, ”recognizes Julien Faliu.

Most real estate developers offer “turnkey” rental management formulas (central reservations, delivery of keys, cleaning, etc.). The short-term tenants remunerate them through a commission integrated into the rental price. “Apartments and duplexes are best suited to short-term rental demand,” says Laurent Tyack. The yield is around 4% to 6% with “an annual filling rate of 65%”, adds Karen Angus.

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Ile Maurice

Sunset Boulevard, Grand Baie
Mauritius

+230 5856 9160

Ile Maurice

Sunset Boulevard, Grand Baie
Mauritius
+230 5856 9160

© 2019 Conçu par Ebox

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