Known for its bespoke 5-star resorts, championship golf courses, exquisite dining establishments, and luxury properties across the island, Mauritius offers an ideal destination for connoisseurs seeking exclusivity, privacy, and unparalleled beauty.
With a well-established reputation as a luxury hotspot, Mauritius now ambitions to lead the luxury market in the region. Partnering with the European Union, the Economic Development Board (EDB) of Mauritius has embarked on a project to attract investments in the manufacturing of luxury goods. The ultimate goal is to establish Mauritius as a premier destination for high-end products and solidify its position as the ultimate ‘Hub’ for the luxury market.
According to the EDB, the luxury sector offers a remarkable opportunity for companies aiming to gain a competitive edge. Europe reigns supreme in this global market, experiencing an impressive growth rate of 19% to 21% in 2022. Projections further suggest that the luxury industry could witness a consumer base ranging from 400 million to 500 million by 2030.
In light of this, alongside its luxury property sector, Mauritius aims to enhance its manufacturing sector’s competitiveness, enabling it to venture into higher-value product segments, target affluent consumers, and command premium pricing. These luxury segments include textiles and apparel, leather, cosmetics, ship models, watches, jewellery, sugar, coffee, and spirits.
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The luxury property market in Mauritius is, indeed, thriving, with foreign direct investment amounting to Rs 15.4 billion in 2022, constituting 54% of the total FDI inflows for the same year.
As a key player in the luxury property market, Mauritius Sotheby’s International Realty has not only surpassed projected sales values for the fiscal year ending June 2023 but also has several high-value sales lined up for the upcoming fiscal year of 2023-2024.
The voice of luxury on the island, Mauritius Sotheby’s International Realty is the promise of an unrivalled lifestyle whether you’re beach and nature enthusiasts or golf aficionados. Expert agents, we have the connections, we know the market and we know your taste.
If you are looking to buy, sell, or rent a property, do not hesitate to contact us.
Published on July 28, 2023 by Laetitia Melidor