House Hunting in Mauritius – Sunset Boulevard

House Hunting in Mauritius

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Today, real estate, tourism and financial services are Mauritius’s primary economic drivers, aided by a tax climate favourable to foreign investors. The island has a flat 15% tax on corporate and individual income, and no taxes on property, capital gains or inheritances.

Foreigners may only buy property in what is called a “property development scheme,” which can be a resort-like development like this one, called Mont Choisy Le Parc Golf & Beach Estate, or a master-planned, mixed-use area known as a “smart city.”

The price range is vast, starting at $160,000 for a 1,000-square-foot apartment all the way up to $10 million for an 8,000-square-foot oceanfront villa, said Outi de Falbaire, director of the Mauritius office of Barnes International Realty.

Mauritius does not have a central electronic deeds database, so tracking home sales and price data is difficult, said Richard Haller, the director of the Mauritius office of Pam Golding. But his agency does its own analyses of how values are faring in the main tourist hubs of Grand Baie and Tamarin, located on the island’s western coast.

Source: The New York Times []

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