Rental Properties in Mauritius – The Guide

Rental Properties in Mauritius - The Guide

Season 2 | 2-Minute Tuesdays

Rental Properties in Mauritius - The Guide

Welcome to a fresh episode of 2-Minute Tuesdays, where we’ll dive into rental properties in Mauritius. This is especially valuable if you’re considering a move to Mauritius and wish to explore the island before making a long-term commitment to property ownership.

Rent a Property in Mauritius

Timo Geldenhuys: What a privilege to be standing in these beautiful gardens at Chateau Bel Ombre. Part of the heritage domain, here stands a beautiful property development called Heritage Villas Valriche. 

One frequently asked question concerns rental properties in Mauritius. The motivations for coming to Mauritius vary, and not everyone arrives with the intention to purchase property immediately. Many individuals prefer to test drive the island before committing to a long-term stay, and others come for job opportunities, prompting the need for rental properties.

A Diverse Market

Navigating the rental market in Mauritius is both diverse and challenging. Presently, demand significantly surpasses supply, particularly in the two primary areas we operate – the West Coast, covering the Black River and Tamarin area extending up to Cascavelle, and the North, encompassing the greater Grand Baie area. 

Both those regions have a shortage of stock, and one of the reasons for that is that during the COVID period, construction came to a standstill, and subsequently Mauritius has relaxed its restrictions and made it easier for people to come, live and work in Mauritius. As a result, there’s been an influx of people and the demand is just outstripping the supply.

When Should You Start Your Property Search?

For prospective renters, my recommendation is to plan ahead when searching for rental properties in Mauritius. Regarding property types, we offer a diverse range of options in Mauritius, primarily including apartments, duplexes, and villas. Additionally, the pricing spectrum is extensive, providing flexibility to suit various budget considerations.

Discover Sunshine Coast

Discover this exceptional 2-bedroom penthouse – MUR 120 000 | Month
Available for rent immediately

Rental Property Prices In Mauritius

In our operational market, a one or two-bedroom apartment can be secured for around MUR 40,000, while a beachfront villa may range from MUR 250,000 and beyond. Our focal point lies in spacious 4-bedroom family homes, a sought-after option priced between MUR 80,000 and MUR 120,000. This range facilitates the inclusion of amenities such as a pool, space for pets, and a comfortable environment for children.

What Areas Should You Rent A Property In?

For those desiring a more lavish and secluded lifestyle, consider areas like Heritage Villas Valriche on the West Coast. As for the East Coast, developments like Anahita are available, and there is also Blue Bay down South. Of course, popular choices include predominant areas like Tamarin and Black River, while the North, with its schools, major healthcare services, and shops, naturally attracts a substantial expat community.

Live in Mauritius

If you have any property-related inquiries or needs, please don’t hesitate to get in touch with us at Mauritius Sotheby’s International Realty.

If you have any questions, contact us – info@sir.mu 

Can A Foreigner Acquire A Beachfront Property in Mauritius?

Beachfront Property in Mauritius

Acquire A Beachfront Property in Mauritius

Can Foreigners Live The Unique Mauritian Beachfront Experience?

Sea, sun and sand await in one of the most sought-after island destinations in the Indian Ocean. If living on an island is a privilege, imagine living in a beachfront property in Mauritius! 

With incomparable views and the soothing tranquility of crashing waves, owning a beachfront property in Mauritius offers unmatched relaxation for both the mind and body, and the possibility to enjoy unique boat trips.

Though beachfront leasehold acquisition is available to Mauritians only, there are many options for foreigners to acquire property in oceanfront developments.

Let’s have a look. 

Can You Live in a Beachfront Development?

Truly paradise at your doorstep and a smart investment in terms of capital gains and rental value, owning a property in a beachfront development is always a good idea. 

Foreigners have the possibility of acquiring properties in various property schemes, and can obtain residency for a minimum investment of USD 375 000.

Generally, acquiring a standalone house or villa on the beach is not directly accessible to foreigners, however, you can easily buy a villa, penthouse, apartment or duplex in a beachfront development that falls under a property scheme. “Living in a beachfront development definitely has its perks, because you can have direct access to the beach and use the various on-site facilities like beach clubs, boat parking solutions, restaurants and so much more. Also, you will be safe as the developments are usually gated. Another important factor, your property value increases because of the sea views and, of course, you can walk to the beach” says Lee Lazare, Property Consultant at Mauritius Sotheby’s International Realty. 

Acquire a Beachfront Property In A Hotel Resort

A foreigner can also acquire a villa under the Integrated Hotel Scheme ( IHS), which is a property scheme allowing hotels to put their villas, apartments or penthouses on sale, and accessible to foreigners. 

Depending on the specific terms, you may have the option for year-round personal use of your villa. In other instances, the emphasis is on an investment-centric approach, allowing you to purchase the property and use it for a specified period. Afterwards, the property becomes part of the hotel’s rental pool, ensuring a fixed return on your investment.

The key advantage of this arrangement lies in the comprehensive on-site property management services. These services encompass everything from cleaning and maintenance of the villa to handling its rental. Your primary role is to reap the benefits of your investment. During your periods of villa occupancy, you will also enjoy unrestricted access to all the hotel’s facilities, effectively affording you a 24/7 hotel living experience. This includes a butler service and privileged access to the spa, restaurants and so on”, says Lee Lazare.

Live in Mauritius

If you’re looking for a property to rent or buy in Mauritius, contact us – info@sir.mu

Real Estate Industry: Flagship of Investment in Mauritius

Real Estate Industry: Flagship of Investment in Mauritius

Season 2 | 2-Minute Tuesdays

Real Estate Industry: Flagship of Investment in Mauritius

Welcome back to the second season of 2-minute Tuesdays, your weekly briefing of the important facts and updates of the property market in Mauritius. It’s in beautiful Chamarel, where panoramic views await, that Timo Geldenguys, Director of Mauritius Sotheby’s International Realty, will bring you up to speed with the latest developments in the Mauritian property sector.

Property Market Performance in Mauritius

Timo Geldenhuys: Notably, 2022 was a phenomenal year for property in Mauritius, mostly considering that for the years preceding the Covid-19 times and 2021, we had up to about just under 400 sales in regulated schemes.

But then, 2022 came along and over 600 units were sold. That’s apartments, villas, duplexes… across all regulated schemes, amounting to a total sales value of about MUR 15.4 billion.

Now, the good news is that 2023 is superseding that as we’re anticipating a growth of about 1.8%. Indeed, in the first quarter of 2023, we have already exceeded MUR 4 billion in sales, and it’s been nothing short of phenomenal.

Where Are The Buyers From?

The markets that are consistently fueling this demand include the French market and the broader Francophone markets which continue to be the primary drivers of property investments on the island. There is interest from South Africa obviously. The Middle East is coming through as a market and what’s interesting is that because of the geopolitical issues in the Northern European area, we’re seeing an increase in demand from countries like Germany.

Off-Plan versus Built Properties, What’s Working Best?

A particularly interesting observation in the post-Covid era, and one of the key takeaways from recent developments, is the shift in property market preferences. Before covid, there was a substantial demand for off-plan properties, with comparatively less interest in already built properties.

However, this trend has now reversed, with demand for already completed properties matching that of off-plan properties. The resale market is thriving, and this can be attributed to people’s desire for instant gratification. Buyers are looking for properties they can purchase and move into within a short span of 2 to 3 months.

This change in dynamics represents a notable transformation in the real estate market.

Real Estate - Driver of Foreign Direct Investments In Mauritius

Timo Geldenhuys: We are witnessing significant growth, and the real estate sector is making a substantial contribution to the national GDP. So far in 2023, over 50% of the Foreign Direct Investment (FDI) flowing into the country is attributed to real estate sales. This gives you a quick snapshot of what has been unfolding since my last update.

These dynamics are truly fascinating, and in the upcoming weeks, we’ll delve into a range of other interesting topics. In the meantime, it’s great to be back. If you have any property-related inquiries or needs, please don’t hesitate to get in touch with us at Mauritius Sotheby’s International Realty.

If you have any questions, contact us – info@sir.mu 

Discover Ariza Duplex – Nature Lover

Discover this 3-bedroom duplex for MUR 21,500,000
Foreign ownership, access to Mauritian residence permit and a favorable fiscal climate

Property Acquisition in Mauritius for Boat Owners

Buy Property in Mauritius as Boat Owner

Property Acquisition in Mauritius for Boat Owners

Dive Deep Into Islander Living

Exclusivity at its best, the benefits and beauty of living in a waterfront home are as boundless as the captivating, uninterrupted vistas that grace these homes. For those who enjoy activities like fishing and sailing, living in an oceanfront development, in or near a marina, or even close to a riverbank, is a dream come true. 

Especially on the North and West Coasts, buying a property in Mauritius as a boat owner is commonplace mostly that the best way to enjoy the turquoise waters of our island is indeed, to set sail.

Buy Property in Mauritius as a Boat Owner

One of the perks of waterfront living is the unique offering and distinctive lifestyle it offers. Tied to a geographical location, like Mauritius, owning such a property is a definite win! However, you need not necessarily buy a waterfront property if you’re a boat owner as there are myriad options for boat parking and maintenance in coastal regions of the island. “If you are a boat owner, you need not necessarily reside in a beachfront development; you can, for instance, join a yacht club and use their facilities, including boat parking, mooring, or boat maintenance services. Additionally, several residential developments like Azuri, St. Antoine, and others offer on-site boat parking or mooring services“, says Lee Lazare, Property Consultant at Mauritius Sotheby’s International Realty. 

Now, if the development you live in does not offer these on-site services, you can still pay for a mooring spot in your area and contact the relevant reputable service providers. So, all in all it’s hassle-free to buy a property in Mauritius as a boat owner.

State of the Market

Typically, the demand for waterfront homes and residential units in coastal areas surpasses the supply due to their immense popularity. “ The demand is substantial, encompassing various markets, including European and South African buyers. Regrettably, there aren’t enough waterfront properties to meet this demand, which is why it is a specially niche market. Nevertheless, if you aspire to buy property in Mauritius as a boat owner, you can invest in any development accessible to foreigners while securely mooring your boat elsewhere.” adds Lee.

Mauritius, A Paradise for Boat Owners

Mauritius is an ideal playground for boat owners, particularly those who relish watersports. Here, you have the opportunity to reside in locations such as La Balise Marina, secluded coastal areas like Pointe d’Esny, or areas close to rivers.

With glorious skies, breathtaking views, and a high degree of privacy and seclusion, what’s not to love?

If you’re looking for a property to rent or buy in Mauritius, contact us – info@sir.mu

API Mauritius Property Forum: Open Door for Niche Property Sales

Niche Property in Mauritius

API Mauritius Property Forum

``There is an open door for niche property sales in Mauritius,`` says Timo Geldenhuys

Exploring prospects and market trends, the API Mauritius Property Forum, held on September 14th, attracted 250 participants, including international and local real estate developers, investors, property experts, hospitality operators, and prospective homebuyers.

Themed “Sustainable Cities and Real Estate Development,” the event featured over 50 speakers, including Timo Geldenhuys, Partner at Mauritius Sotheby’s International Realty, who shared their insights on the performance of Mauritius’ real estate market and the potential for niche property sales in the country.

Market Performance

In 2022, the property sales value in Mauritius witnessed an impressive growth amounting to MUR 15.4 billion. Also, a sectoral growth of 1.8% is expected in 2023

Notably, Mauritius is becoming increasingly appealing to High Net Worth Individuals (HNWIs) seeking niche properties, whether for relocation, investment opportunities, or holiday homes. “ While USD 10 million property sales may not become a recurrence, there is undoubtedly a growing demand for properties valued between USD 5 million and USD 10 million, driven by emerging markets. Additionally, Mauritius boasts renowned international luxury property brands, attracting a discerning clientele to the island,” remarks Timo Geldenhuys.

Discover: One & Only, Le Saint Géran- The Harmony

Price: USD 6 700 000

Ecological Development in the Property Sector

While property developers are progressively adopting eco-conscious practices and incorporating green features into their developments, the current demand for fully sustainable homes on the island remains relatively low, primarily due to associated costs and potential effects on final pricing. However, this remains a trend to be closely monitored.

Niche Property in Mauritius

Live in Mauritius

If you aspire to embrace a luxurious and comfortable lifestyle under the tropical Mauritian sky by purchasing or renting a property, please don’t hesitate to contact us at info@sir.mu.

Golf Homes in Mauritius | A Unique Lifestyle

Golf homes in Mauritius

Golf Homes in Mauritius

Embrace a Unique Lifestyle

More than a sport, golfing is a lifestyle and living on a golf course is a privilege. For some, it’s envisioning themselves on the fairway while sipping morning coffee. For others, it’s enjoying family amenities often found on golf estates. And then some are ardent golf enthusiasts.

In essence, acquiring a golf home in Mauritius isn’t just a property investment; it’s embracing a distinctive lifestyle. It caters to various aspects of living – from family-oriented experiences and vibrant community life to the serene pleasures of retirement and the allure of private living.

Championship Golf Courses in Mauritius

Mauritius is known for the beauty of its championship golf courses artfully designed by some of the world’s best, including golf legends like Ernie Els, Peter Matkovich, or Bernhard Langer. These courses not only open up to breathtaking sea views but also come complete with top-tier, on-site amenities, such as luxurious hotels, spas, gourmet restaurants, and much more.

From the exclusive Mont Choisy La Réserve in the North to the exquisite Anahita Mauritius on the East Coast, and the prestigious Heritage Villas Valriche on the South-West Coast, the island offers a multitude of choices for those seeking golf homes in Mauritius.

Why Choose A Golf Home in Mauritius?

Offering an appealing lifestyle, the demand for golf homes in Mauritius is increasing. “Interestingly, it’s not only golfers that opt for the golf estate lifestyle, because there’s usually a lot more going on than just the course. The estates are extremely spacious, for those who wish to avoid dense or compact complexes, and also abundant in flora, bird life and occasionally small game, which makes places like Heritage Villas Valriche, for example, a nature lover’s paradise”, says Jennifer Hirst, expert real estate consultant for Mauritius Sotheby’s International Realty.

The amenities are definitely an advantage, “you will have other resort-type amenities on site or close by; hotels, restaurants, the beach and spa, which of course add to the offering, coupled with leisure activities such as cycling, walking trails and water activities to name a few, which are also readily available. In short, safety, beautiful surroundings, clean air and large open spaces – what’s not to love!”, adds Jennifer. 

What’s the State of the Market for Golf Homes in Mauritius?

Mostly as a primary home, as an investment or for long vacation stays, owning a golf home in Mauritius is definitely a wise choice to make. “The market for golf homes in Mauritius is growing for various reasons including the country’s attractiveness as a luxury destination. As more high-net-worth individuals and investors are drawn to the idea of owning properties on the island, they are particularly attracted to golf homes as a second home or an investment opportunity”, explains Sacha Bouic, expert real estate consultant for Mauritius Sotheby’s International Realty.

Live in Mauritius

If you’re looking forward to living this incredible experience, Mauritius Sotheby’s International Realty has an inventory of extraordinary private golf homes, awaiting your visit.

Contact us, info@sir.mu

Mauritius: The Rising Star of Luxury in the Region

Luxury Property Mauritius

Mauritius: Rising Star of Luxury in the Region

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.

The Global Success of the Luxury Sector

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.

Discover: Amara - Villa Signature

Price: MUR 42 500 000

The Luxury Property Sector Booming in Mauritius

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.

Live in Mauritius

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.

Mauritius Sotheby’s International Realty Sets New Record With Top Property Sale

Buy property in Mauritius

Record Breaking

Mauritius Sotheby’s International Realty Sets New Record With Top Property Sale

With experience that extends locally and globally, Mauritius Sotheby’s International Realty has surpassed projected sales values for the fiscal year ending June 2023. Notably, we achieved a remarkable milestone with the sale of a breathtaking beachfront villa at One & Only, St-Géran.

Excitingly, Mauritius Sotheby’s International Realty already has several high-value sales lined up for the upcoming fiscal year of 2023-2024, positioning us to surpass previous achievements and make this new financial year our most successful to date. If you’re looking to buy property in Mauritius, we are the ideal agency. 

Positive Market Trends

Amidst favorable market conditions, Timo Geldenhuys, Director of Mauritius Sotheby’s International Realty, provides his analysis for the upcoming financial year. “In the fiscal year ending June 2023, we witnessed a significant increase in demand for high-end luxury properties, positioning Mauritius as a secure environment amidst current global economic fluctuations. Additionally, real estate remains a reliable investment option for affluent buyers.”

Timo highlights that not only is the high-end property sector experiencing positive growth, but Mauritius, as a destination, is also attracting more investors seeking property acquisitions. “The island offers incredible opportunities for affluent buyers, especially with the presence of renowned brands such as Four Seasons and One & Only, St-Géran, who have undertaken prestigious property developments. As the high-end offerings expand and flourish, the market inventory embraces more specialized products with prices now reaching over USD 14 million, compared to a maximum of approximately USD 6 million a few years ago.

Buy Property in Mauritius

Mauritius Offers a Unique Lifestyle

It is important to highlight that in addition to offering residency, our island provides exceptional holistic experiences, including a pleasant climate throughout the year, stunning beaches, world-class resorts, a rich culinary scene, a diverse cultural landscape, and countless lifestyle amenities. 

Timo emphasizes, “Furthermore, Mauritius offers a stable business environment and convenient connections to Dubai International Airport, with daily flights and easy access to Europe and the East.”

Overall, the team at Mauritius Sotheby’s International Realty anticipates a highly positive performance for the 2023-2024 financial year. “We have full confidence in the market outlook and are launching more aggressive marketing campaigns. We firmly believe that the Mauritius Sotheby’s International Realty brand provides high-end investors and entry-level buyers with the ideal opportunity to discover the exceptional lifestyle of Mauritius through properties that cater to their unique needs.”

Live in Mauritius

We’re the industry’s best agents, curating with incomparable attention to style and detail. If you are looking to buy, sell, or rent a property, do not hesitate to contact us.

National Budget Highlights 2023-2024: The Mauritian Destination More Expat-Friendly

Expat in Mauritius

National Budget Highlights 2023-2024

The Mauritian Destination More Expat-Friendly

The national budget for 2023-2024 is yet another testimony to the country’s strong commitment to welcoming foreigners to our home island.

 In 2022, Foreign Direct Investments (FDI) in the real estate sector witnessed impressive growth, with over 600 sales under regulated schemes amounting to MUR 15.4 billion.

Whether you’re a digital nomad, a retiree, a professional, or a family looking for a new relocation destination, these budget measures have something for everyone.

Foreign Acquisition More Accessible

While the minimum investment in property acquisition to obtain a residence permit is USD 375 000, a few innovations add up to the offer:

  • A non-citizen, holder of a residence permit or occupational permit as the main applicant, will be allowed to acquire only one residential property outside of schemes (Smart City and PDS) for a price exceeding USD 500 000 and subject to payment of an additional registration duty of 10% provided that the property does not exceed 1.25 arpents and is not located on State land.

 

  • Enter the Sustainable City Scheme. A non-citizen and his family will be granted a residence permit on the acquisition of residential property at a minimum price of USD 375 000 under this new scheme.

 

  • The time limit for the acquisition of one plot of serviced land by resident non-citizens in a smart city or a PDS project is extended up the 30th of June 2026.

 

  • Processing fees for Integrated Resort Scheme (IRS), Real Estate Scheme (RES), Invest Hotel Scheme (IHS), and Smart City Scheme (SCS) will be standardised.

 

  •  A new processing fee of MUR 25 000 per application will be introduced for non-citizens acquiring “Ground +2 apartments” and for residence permit applications under the residential schemes. 

Discover: Land of Wonders

As from MUR 9 600 000

Retire in Mauritius

  • The residence permit will be accessible to retired non-citizens aged above 50 years and their families on the acquisition of a senior living PDS property exceeding USD 200 000. 

 

  • Foreign retirees above 60 years old will have access to medical insurance locally.

 

  • Retired non-citizens applying for the Residence Permit will not be required to open a local bank account in the initial stage. Instead, a certified bank statement from the applicant’s country of origin or residence showing proof of funds would be accepted together with a written undertaking to open a local bank account in two months’ time. 

 

  • Medical patients and retirees as well as up to two accompanying caretakers will be eligible for a premium visa.

Discover: Le Marais' Gât - Apartment

Price: Rs 21 750 000

New Measures for Local Buyers

  • The Home Ownership Scheme, where the government refunds 5% of the property value, up to a maximum of MUR 500 000 will be extended to the 30th of June 2024. For properties under vente en l’état futur d’achèvement (VEFA), the refund will depend on the amount paid by the acquirer under the VEFA agreement. The property must be reserved on or before the 30th of June 2024 and registered no later than the 30th of June 2025.

 

  • Home Loan Payment Scheme for a person contracting a secured housing loan will be extended to the 30th of June 2024. Individuals who contracted a secured housing loan can benefit from a refund of 5% of the disbursed loan amount, up to MUR 500 000 until the 30th of June 2025.  

Discover: À l'ombre du tamarinier

Price: MUR Rs 28 500 000

Occupation and Work Permits

  • The monthly basic salary threshold for Professional Occupation Permit will be reduced to MUR 30 000, irrespective of sector.

 

  • Applicants for Occupation Permit will be granted a business visa of 120 days without the need for them to leave Mauritius to submit an application.

 

  • Introduction of a “silence is consent” principle of 4 weeks for Work Permit applications. 

 

  • Non-citizens on a tourist or business visa will be allowed to apply for a Work Permit.

It’s Time to Live in Mauritius

Whether you’re looking to buy or rent a property on the island for your retirement, expatriation or investment, we’re the right agents to help make your project a reality. Contact us, info@sir.mu