The Mauritian property market can boast its dynamic nature thanks to new real estate projects as well as properties for resale and for rent. LexpressProperty.com has assessed the various investment opportunities pertaining to offer and demand in Mauritius - urban, close to nature, near shopping centres, villas, apartments, penthouses, plots of land, office spaces and for commercial use.
Opportunities for all!
Offers are skyrocketing on the local property market which provides new products following demand from the Mauritian as well as foreign buyers. With an ever-growing residential offer, and following a scarcity of available plots of land, agricultural areas are converted into residential lots by their owners. Often located in regions which are becoming business hubs (Ebene and Moka or Smart Cities scattered around the island), they offer greater investment opportunities.
When talking about plots of land, we also think about building a house or villa . Individual houses, villas and semi-detached houses can found in the coastal regions and inland alike. As for apartments, duplexes and penthouses, though are often considered as more expensive than some houses regarding the available surface area, demand is relatively high - specially in historically-popular towns like Curepipe, Quatre-Bornes, Rose Hill and Port-Louis, and, of course, along the coasts.
To this offer, we can add office spaces in the island’s hubs and co-working areas. Business parks have thus now propose such products, like Mon Trésor Business Gateway and Uniciti Office Park.
We have delved into the matter by asking two questions to our partners:
1. What are the most sought-after properties by Mauritians and foreigners?
2. Do see a trend towards premium products, or rather less costly ones?
DISCOVER THEIR ASSESSMENT>>
1. Mikaël Le Luron - Head of Marketing, ENL Property
"Through demand for our IRS projects - La Balise Marina, Heritage Villas Valriche or in the heart of Moka Smart City, with Les Promenades d’Helvétia -, we can see that foreign as well as local clients are more and more looking for properties in integrated and planned developments.This goes beyond the framework of traditional property products, with a mastered environment, respecting nature, encompassing a better quality of life and securing long-term investments. Up to now, an access to the sea and the Northern region of the island were the most important criteria for the international clientele. However, we can see that the South and the West are also attractive to clients looking for a natural and typical environment. Moka is also very much in-demand by the local and and international clients for the same reasons, as well as the fact that it is close to the major financial centres and it offers various urban amenities (shopping malls, sports and wellness infrastructures and movie theatres…)."
2. Olivier Babet - Barnes International Realty, Marketing Manager
"There is an on-going growth in terms of demand in seafront regions. However, as the most popular regions such as the North and the West are experiencing a saturated market, less developed regions are becoming more and more attractive. Major developments, such as Pointe d’Esny Le Village, which is now being marketed, are no longer considered as holiday destinations, but actual key economic stakeholders. Buyers are also looking for property assets and investment opportunities with a proximity to the sea and various infrastructures (schools, shopping malls, restaurants, etc.). Owing to the current world economic trends, demand for premium properties is decreasing, even though some HNW clients still favour exclusive properties in Mauritius. Demand is higher for more affordable properties, such as apartments,and this has been more so with the new G+2 scheme, which enables foreigners buyers to own a home base in Mauritius."
3. Mevin Veerabadren - Davyland Properties, E-commerce Manager
"Demand covers the whole island. Newly weds mostly look for houses/apartments/plots of land in the Central region, near facilities such as schools, hospitals or shopping centres... In the case of an investment or to have a secondary residence, clients prefer apartments/penthouses and villas near the sea (beachfront or a few steps from the beach). The most sought-after regions are the North and the West. Demand also greatly tends towards properties in Pointe d’Esny, even though real estate products are scarce in this part of the island. Foreigners also choose beachfront properties to invest or for rental. The North is one of the most in-demand regions, but we also see a fondness for the East among foreigners – especially in the Belle Mare region. There is demand for premium products, but most Mauritians have a budget between Rs 25 million and Rs 3 million for a well-located plot of land. In popular regions, the prices range between Rs 4 million and Rs 6 million."
4. Thomas Mousseron, Offissimmo – Directeur
"When it comes to commercial properties, the most sought-after products are currently functional offices in the centre of the island: close to major road networks, with easy access, surrounded by green spaces and with parking options. More and more companies are planning to build their own offices and contact us to find an appropriate plot of land, mostly in the Centre or in the North. We can observe two types of profiles :
companies wishing to relocate in premium offices, to showcase a better image to their clients and partners.
companies, often local ones, which do not need exposure and looking for a good deal in a nice environment for their employees, even if they would be in remote and less central areas."