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.

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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 

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

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What Are the Fiscal Advantages of Living in Mauritius?

What Are the Fiscal Advantages of Living in Mauritius?

Invest in Property in Mauritius : All About Taxes

What Are the Fiscal Advantages of Living in Mauritius?

Timo Geldenhuys: Fiscal Advantage is one of the key drivers of why foreigners continue to invest in Mauritius.

The government has been proactive in setting these fiscal benefits to investors coming in and it is one of the main reasons why the Foreign Direct Investments (FDI) flowing into Mauritius are largely supported by the property industry.

So, what are these fiscal benefits ?

It starts with your personal income tax. The Income Tax rate, compared to most of our key markets, is very low. Mauritius has a top income tax rate of 15%. Through Covid-19 there have been a couple of temporary adjustments around that in order to assist in the recovery of the economy. As a result, the top earners will pay around 25% of income tax.

What if you’re a fiscal resident ?

If you base yourself in Mauritius as a fiscal resident and qualify for fiscal residency, (spend more than 183 days per annum in Mauritius), some of the benefits are as follow :

  • There are no dividends tax so if you get paid your dividends in Mauritius you pay 0% tax. That is a key driver for why many captains of industry and successful businessmen choose Mauritius as a residential and fiscal location.
  • There is no capital gains tax. We have seen a steady increase in terms of property appreciation over the years. I always say that Mauritius is a medium to long-term property investment destination, and at the end of the day when you sell that property, you pay zero capital gains tax.

 These are just a few of the advantages that are available, but the key ones I wanted to point out.

What about the inheritance tax ?

There is no Inheritance Tax in Mauritius. That’s important because your beneficiaries are not going to be taxed on the assets that you hold in Mauritius in the future and hence it gives you peace of mind.

Those are the main fiscal benefits of Mauritius. There is a myriad of other benefits that our advisors and service providers who specialize in the sphere can advise on and we would be happy to point you in the right direction.

Live in Mauritius

If you have any questions about this topic, please contact us at Mauritius Sotheby’s International Realty.

Discover Gracious Times

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Discover Nautica Villa

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Can Retirees Invest and Live in Mauritius?

Can Retirees Invest and Live in Mauritius ?

Buy Property In Mauritius: Can Retirees Invest and Live in Mauritius ?

Retiring in Mauritius

Timo Geldenhuys: Yes, you can do so. Now, the question is, how ?

There are two ways. First of all, there’s a specific retiree visa that allows foreign retirees to come and live in Mauritius. Obtaining this visa is easy, and facilitated through the Economic Development Board (Mauritius).

The EDB is a government institution that facilitates investment, visas, and residency in Mauritius. You can go on their portal and it’s self-explanatory.  

What’s the Minimum Investment as a Retiree ?

The key is, the initial residency-retiree permit is a 3-year permit and it’s as simple as bringing in USD18 000 a year for those 3 years. So, it’s not an excessive amount of money, it’s cash that you’re going to use to live here anyway, in terms of your daily costs including property rental, car, etc.

Mauritius is just a phenomenal place to come and retire. The permits and visas are there for you to do it very easily.

Can Retirees Invest in Property in Mauritius ?

The largest percentage of our buyers are in the retiree category, they’re 50+ years old and are predominantly from France and South Africa. When I say France, I also imply most of francophone Europe. There’s an amazing lifestyle here, with lots of opportunities for retirees, including great healthcare, and the shopping is good.

 

The investment is the same as any other investor buying property to get the residence permit, i.e, a minimum of USD375 000 is necessary to qualify for that residency. 

Live in Mauritius

At Mauritius Sotheby’s International Realty, we will facilitate that process for you, and we will do the application on your behalf.

We look forward to assisting you in that process, so if you are a retiree and you want to find out more, please do contact us, and we’ll help you as best we can.

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Discover Ship to Shore

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Live in Mauritius: Why Should a Foreigner Choose Mauritius?

Why Should a Foreigner Invest in Mauritius?

Live In Mauritius: Why Should a Foreigner Choose Mauritius?

Why Invest in Mauritius?

Timo Geldenhuys: Mauritius is a very unique island. Actually, it’s part of Africa, but in a way it’s not, as it’s far from mainland Africa.

The uniqueness of Mauritius is that it’s an independent island with very few natural resources, yet it is the success story of Africa over the last 50 years. These are the first reasons why a foreigner should choose Mauritius

Why Choose Mauritius: Discover Our Mauritian Story

Mauritius gained independence from the United Kingdom in 1968 and since then, the island has managed to reinvent itself numerous times. Originally, the whole economy was built on agriculture and monocrop, mostly sugarcane.

Over the years, various pillars developed and the first one was tourism. Well, everyone knows Mauritius as a beautiful blue sea and coral reef island, and a great place to come and have family holidays, and honeymoons.

Again, the population of Mauritius is well-educated, and the island has systematically grown in various spheres.

Why Choose Mauritius: A Safe International Platform for Investment

They are leaders in the ICT sector and in the offshore banking sector, definitely a great place to do business. Mauritius ranked highly on numerous listings across Africa and is also globally a safe place to invest.

Mauritius has had independent democratic elections every 5 years since 1968. There’s never been any major political upheaval, the population is a law-abiding population and, as a result, it’s a great place to invest with low tax rates and no dividends tax, no inheritance tax. The maximum tax rate here is 15%, so big companies that do business in Africa have chosen Mauritius as a platform to invest.

The island has proven itself as the leading country in Africa in terms of offshore development.

So, generally, is Mauritius a Good Place to Invest?

It’s a yes, and Mauritius Sotheby’s International Realty is well-placed to assist you in this regard, we look forward to seeing you guys and chatting with you soon.

Contact us: info@sir.mu

Front de Mer Apartment

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Sky Bound - Penthouse

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Live in Mauritius: Where Do We Go Shopping On The Island ? (VIDEO)

Where Do We Go Shopping In Mauritius ?

Live In Mauritius : Where do We Go Shopping ?

What About the Shopping Malls On The Island ?

Timo Geldenhuys: Today we’re gonna go on a road trip and we’re going to show you the different shopping centers that exist; North, Middle and South-West of the island. You can go shopping all over the island, so let’s go! 

Shop In Mauritius: Welcome To The Bagatelle Mall

Important visit for those who want to live in Mauritius, here we are at Bagatelle Mall in the middle of the island, servicing the whole Moka and Curepipe region. Located in the heart of Mauritius, this is the biggest mall in Mauritius that has anything and everything you can think of, from an eating perspective experience to shopping, whether it’s fashion or just grocery shopping of fresh fruits and vegetables, everything is available at the Bagatelle Mall. 

Over than the Bagatelle Mall, not only do we have amazing shopping centers but we also have cool markets in Mauritius, and this is a food market in Quatre-Bornes where you can get pretty much any fruit and vegetable you can think of. 

Shop In Mauritius: Welcome To The Mahogany Shopping Centre

Here we are at the Mahogany Shopping Centre which is part of the new Beau Plan Smart City. It’s one of the newest shopping centers on the island, and again you will have a full array of options from dining to entertaining, in a really cool setting and it’s about 10-15 km from Grand-Bay, and servicing this new residential area that’s developing.

Shop In Mauritius: Welcome To La Croisette Shopping Centre

Now we are at La Croisette, the biggest shopping mall in the North. There are a number of malls up in the Grand Bay area, but this is definitely the biggest one, a real hive of activity, especially for late afternoons and evenings and over the weekends. 

Everything you can think of, including great movie theaters are here, so it’s definitely the place to go and shop in the North.

Shop In Mauritius: Welcome To The Phoenix Mall

Here we are at the Phoenix Mall, which is right in the middle of Mauritius. It services a lot of the central part of Mauritius and it is one of the oldest malls on the island, but has actually been upgraded recently. Anything and everything that you need is right here; great coffee shops, restaurants and the closest Nando’s to the West Coast, so a lot of us shoot up here to have a Nando’s.

Shop In Mauritius: Welcome To The Cascavelle Shopping Mall

Another one, we’ve done a lot of these shopping centers and I think it proves the point. This is Cascavelle, it is part of the new smart city, Unicity, which is near Flic en Flac on the West Coast of the island.

One of the unique features is the bowling alley as you can see. So, you can come bowling which is something slightly different for the kids, but a cool place to visit. 

Shop In Mauritius: Welcome To Coeur Cap Tamarin

And we’re now in Tamarin. The newest edition to all the supermarkets and shopping malls in Mauritius, this is the Super U center. What makes it unique is actually that the whole top floor of this center is a grocery shop, called Super U, and the bottom is where all the rest of the shops are. Again you will have a great food court, fresh products, clothing shops, etc, and a massive edition to the shopping experience on the West Coast.

Kalodyne Bay- Apartment 3

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Kalodyne Bay – Penthouse 4

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Foreign ownership, access to Mauritian residence permit and a favourable fiscal climate

Your Weekly Rendez-vous: Welcome to 2-Minute Tuesdays!

Your Weekly Rendez-vous: Welcome to 2-Minute Tuesdays!

2-Minute Tuesdays is a new, informative series hosted by Timo Geldenhuys, Partner of Mauritius Sotheby’s International Realty. Timo has lived in Mauritius for the last 17 years with his family and in this series, he will answer your questions, be it property acquisition, legal terminology, lifestyle options, and many other interesting topics.

So, dive into this unique experience;  it’s time for Mauritius to come alive.

Episode 1 : Want to know where Mauritius is situated or how big is it?

Episode 2 : How can a foreigner acquire property?

Episode 3 : How can a foreigner obtain residency in Mauritius?

Want to know more: Contact us – info@sir.mu 

It’s time to Live in Mauritius 

Property Investment: Acquisition Options for Foreigners Broadened and Made Easier

Property Investment : Acquisition Options for Foreigners Broadened and Made Easier

Another milestone achieved in property investment in Mauritius!

For a minimum investment of USD350 000 and a 10% contribution to the solidarity levy, a holder of any type of residence permit including Permanent Residence Permits, Investor Permits, Occupational Permits, Retiree Permits but excluding  the Premium Visa, now qualifies for property acquisition outside of the approved schemes, i.e, the  Integrated Resort Scheme (IRS), Real Estate Scheme (RES) and Property Development Scheme (PDS).  

This new measure broadens the possibilities of property acquisitions, as foreign residents now have access to many more properties on the island, including:

  •  Already built homes situated on freehold land not exceeding 5276 square metres

  •  Plots of freehold land not exceeding 5276 square metres

The new legislation does not allow foreigners to buy leasehold land, which generally means any beachfront property is excluded and not available.

Discover: Kalyaana Villa

What if You Lose Your Residence Permit?

If you relinquish or lose your residence permit, the good news is that you can still keep ownership of your property as an investment, to rent it out, or to keep it as a secondary residence in Mauritius. You will however only be able to spend 6 months of the year in Mauritius, as per current law.

Investors Can Acquire Property and Obtain Residency in Partnership

It is now also possible for non-citizens to acquire property in partnership, under the fractional ownership policy. Under this regime, each partner will be eligible to apply for the status of residency, provided that each foreigner invests more than USD 375 000 in the property.

Want to know more: Contact us – info@sir.mu 

It’s time to Live in Mauritius 

Investment: Where Exactly is Mauritius? (VIDEO)

Where Exactly is Mauritius?

Today’s Question Is: Where Exactly is Mauritius?

Is Mauritius in the Indian Ocean?

Timo Geldenhuys: Well, Mauritius is this little tiny tropical island, in the middle of the Indian Ocean. 

It’s off the south-eastern part of Africa, about 1000 km East of Madagascar, and very close to Reunion Island, a French island that we can see on a good day. 

How Big is Mauritius?

Well, it’s not very big at all, it’s a tiny little island, 70 km long by 40 km wide. 

Here, things aren’t really measured in distance, it’s more measured in time. 

So, if you want to drive around the circumference of the island, it’s gonna take you about a day, and for the areas where people live, everything’s about half an hour to an hour, to two and two and a half hours drive, depending on how fast or how slow you drive. 

How Big is the Population of Mauritius?

The Mauritian population is about 1.3 million, all living in harmony and so happy together. 

Definitely the most accommodating and happy multicultural society I’ve ever visited in my life.

What Languages are Spoken in Mauritius?

The official language is English, but most people speak French and creole. 

The reason you have this nuance is that prior to independence the British were in control of Mauritius. 

So, that was the official language existing when independence happened, but day-to-day, the prominent languages spoken are French and Creole, though people are comfortable with English, as most of the population can adequately speak English. 

No matter where you come from around the world, you’re not gonna feel isolated, and language is not gonna be an issue. 

St Antoine Private Residence II – Luxury Apartment

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Foreign ownership, access to Mauritian residence permit and a favorable fiscal climate

Skyline Penthouse St-Antoine

This 3-bedroom penthouse is a must-see for R 45,000,000
Foreign ownership, access to Mauritian residence permit and a favourable fiscal climate

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