How to buy a property in Mauritius.
Buying a property in Mauritius is quite easy but can quickly waste your time and money if you are not well advised whether you are a Mauritian or an expat.
The process of buying a property in Mauritius is fast enough, it still takes an average of 3 to 6 months between your decision, dear buyer (the purchase offer accepted by the seller) and the final deed of sale so your receipt of the keys.
The speed of the process depends of course on the reactivity of your real estate agent (Westimmo makes a point of honour and is often congratulated on this) but above all on your choice of notary. Because, yes, it is the buyer who chooses the notary.
Real estate prices in Mauritius
Over the last twenty years, Mauritius has been evolving more and more rapidly: new infrastructures, new highways, new schools and universities, new sustainable projects. We also note a change in the behavior of Mauritians who wish to acquire a property in majority and this from a very young age. To encourage them, the government offers facilities such as tax exemption or refund of RS 500,000 under certain conditions which will certainly save you money.
The prices of land, houses, villas, apartments or any other purchase vary from simple to double depending on the sector. The waterfront villas are only accessible to Mauritians except for the PDS paths like Manta Cove in Tamarin.
To encourage the purchase and investment of foreign nationals, following a sharp decline in the Covid the Mauritian government has lowered the amount of access to the title of resident through the purchase of a property under the regime of PDS from 500,000 US to 375,000 USD which has opened greater opportunities to access a peaceful life on the pearl of the Indian Ocean.
How to buy land in Mauritius
Buying a piece of land is the easiest way to create your real home, to build your house and arrange it the way you want. But it can also be a long process where you will waste your time and money. By knowing the ….. Westimmo by knowing the market warns you to choose well your construction company, your contractor, architect etc.
For expatriates: The land available to foreigners is only in programs like Smart City Tamarin, Anaita, Valriche etc. You cannot buy just any land on the island as an individual.
Buy a property to resell it
You are a property dealer or want to become one? Are you an investment, wealth management or other company? You are an individual and you have funds that you would like to invest?
Note that in Mauritius there is no capital gains tax so it can be very advantageous provided you choose well and have good calculations to have the highest rate of return. Our selection of apartments and villas on plan are ideal for this kind of investment.
There is also another way to make money on resale: Buy old, refurbish and resell. This solution is only available to Mauritians and requires a personal investment.
Contact Westimmo helps you succeed by assisting you in choosing properties and projects that will increase in value over time.
Buying on credit? The real estate loan rate in Mauritius
How to make a credit in Mauritius ? This is a very common question asked by our customers.
Il y a peu de temps encore le taux de remboursement pour contracter un prêt immobilier était très élevé à Maurice mais depuis peu les banques commencent à proposer des prêts à 3,5 ou voir même 2,9 %.
Many of our clients opt for a home loan, at least in part.
Westimmo is not a simple real estate agency but first and foremost your guide to Mauritius.
To have all the chances on your side, contact us!
Milena
