By Nishta Jhurree. December 2021.
Recovering from the aftermath of Covid, Mauritius remains a preferred investment platform of Africa & Asia in 2021-2022.
For 2021, the Mauritian economy is projected to grow by 5% from its 2020 growth baseline to reach MUR 449.6 bn. The Real Estate sector has a major role to play in this economic rebound.
Foreign Direct Investment (FDI)
Over the last 15 years, the Real Estate sector has attracted a staggering 46% of total inflow of FDI making it the highest recipient of all sectors in Mauritius. This share rose significantly from 37.8% in 2005 to 72.6% in 2019, though it fell to 60.1% in 2020
More than 70% of the FDI for the Real Estate sector was directed to IRS/RES/IHS/PDS/SCS over the last 3 years with the main aim of promoting the development of a mix of residences for sale to non-citizens, citizens, and members of the Mauritian Diaspora.
Mauritius remains a business-friendly destination ranked 13th out of 190 countries in the World Bank Ease of Doing Business 2020. Numerous prospects and incentives for foreign nationals to invest, work,
live or retire in Mauritius are possible, through the Premium Visa Scheme, Residence Permit, and the allocation of a ten-year Occupation Permit amongst others.
Moreover, the recent depreciation of the Mauritian Rupee attracted foreign investments in the country. It has encouraged the Real Estate investment – threshold brought down to USD 375,000 from USD 500,000 for obtaining the Residence Permit. Today, with the injection of foreign currencies in the market, the Mauritian Rupee is slowly appreciating.
Local Investment
The domestic market of Mauritius (is this needed?) is as buoyant as the international market towards it in terms of investment in the Real Estate sector (not very clear as to what you mean). From Q4 2019 till Q3 2020, L’ExpressProperty.com has recorded 2 million visits (67%) from Mauritians only.
This significant interest has evolved further into leads for houses, apartments, and residential plots of land in June 2020 (Source: Lexpress Property Magazine number 63 – Mai 201 by Mediatiz). This shows that the real estate market reserved for Mauritians still is and will remain a valuable investment.
MUR 449..6 bn.. The Real Estate sector has a major role to play in this economic rebound.
Foreign Direct Investment (FDI)
Over the last 15 years, the Real Estate sector has attracted a staggering 46% of total inflow of FDI.
Moreover, with the Key Repo Rate at a record low of 1..85% when COVID hit us in March 2020, the commercial banks offering competitive interest rates and the opening of the borders, the domestic economy should wind back in its sail. It is without doubt a vicious circle bringing light at the end of the tunnel!
